Document_And_Entity_Informatio
Document And Entity Information | 9 Months Ended | |
Sep. 30, 2014 | Oct. 30, 2014 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-14 | ' |
Document Fiscal Year Focus | '2014 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'SBA COMMUNICATIONS CORP | ' |
Entity Central Index Key | '0001034054 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 129,096,733 |
Trading Symbol | 'SBAC | ' |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Current assets: | ' | ' |
Cash and cash equivalents | $450,257 | $122,112 |
Restricted cash | 46,271 | 47,305 |
Short-term investments | 5,541 | 5,446 |
Accounts receivable, net of allowance of $837 and $686 at September 30, 2014 and December 31, 2013, respectively | 77,435 | 71,339 |
Costs and estimated earnings in excess of billings on uncompleted contracts | 29,105 | 27,864 |
Prepaid and other current assets | 65,777 | 69,586 |
Total current assets | 674,386 | 343,652 |
Property and equipment, net | 2,687,827 | 2,578,444 |
Intangible assets, net | 3,910,755 | 3,387,198 |
Deferred financing fees, net | 78,903 | 73,042 |
Other assets | 457,121 | 400,852 |
Total assets | 7,808,992 | 6,783,188 |
Current Liabilities: | ' | ' |
Accounts payable | 31,325 | 24,302 |
Accrued expenses | 78,643 | 86,131 |
Current maturities of long-term debt | 1,078,318 | 481,886 |
Deferred revenue | 108,054 | 94,658 |
Accrued interest | 38,512 | 46,689 |
Other current liabilities | 11,375 | 14,007 |
Total current liabilities | 1,346,227 | 747,673 |
Long-term liabilities: | ' | ' |
Long-term debt | 6,471,770 | 5,394,721 |
Other long-term liabilities | 288,612 | 283,828 |
Total long-term liabilities | 6,760,382 | 5,678,549 |
Shareholders' equity (deficit): | ' | ' |
Preferred stock - par value $.01, 30,000 shares authorized, no shares issued or outstanding | ' | ' |
Common stock - Class A, par value $.01, 400,000 shares authorized, 129,096 and 128,432 shares issued and outstanding at September 30, 2014 and December 31, 2013, respectively | 1,291 | 1,284 |
Additional paid-in capital | 2,338,007 | 2,907,446 |
Accumulated deficit | -2,542,770 | -2,518,085 |
Accumulated other comprehensive loss, net | -94,145 | -33,679 |
Total shareholders' equity (deficit) | -297,617 | 356,966 |
Total liabilities and shareholders' equity (deficit) | $7,808,992 | $6,783,188 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, except Share data, unless otherwise specified | ||
Accounts receivable, allowance | $837 | $686 |
Preferred stock, par value | $0.01 | $0.01 |
Preferred stock, shares authorized | 30,000,000 | 30,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Class A Common Stock [Member] | ' | ' |
Common stock - Class A, par value | $0.01 | $0.01 |
Common stock - Class A, shares authorized | 400,000,000 | 400,000,000 |
Common stock - Class A, shares issued | 129,096,000 | 128,432,000 |
Common stock - Class A, shares outstanding | 129,096,000 | 128,432,000 |
Consolidated_Statements_Of_Ope
Consolidated Statements Of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||||||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | ||||
Revenues: | ' | ' | ' | ' | ||||
Site leasing | $349,010 | $287,483 | $998,781 | $840,488 | ||||
Site development | 44,283 | 44,611 | 123,481 | 128,982 | ||||
Total revenues | 393,293 | 332,094 | 1,122,262 | 969,470 | ||||
Operating expenses: | ' | ' | ' | ' | ||||
Cost of site leasing | 77,926 | 68,042 | 223,049 | 203,927 | ||||
Cost of site development | 33,950 | 35,253 | 93,432 | 103,788 | ||||
Selling, general, and administrative | 26,589 | [1] | 21,827 | [1] | 76,707 | [1] | 63,765 | [1] |
Acquisition related adjustment and expenses | -58 | 3,599 | 10,728 | 11,378 | ||||
Asset impairment and decommission costs | 5,992 | 6,190 | 13,554 | 16,405 | ||||
Depreciation, accretion, and amortization | 159,410 | 133,281 | 464,858 | 400,006 | ||||
Total operating expenses | 303,809 | 268,192 | 882,328 | 799,269 | ||||
Operating income (loss) | 89,484 | 63,902 | 239,934 | 170,201 | ||||
Other income (expense): | ' | ' | ' | ' | ||||
Interest income | 161 | 274 | 428 | 1,612 | ||||
Interest expense | -78,170 | -62,987 | -215,695 | -185,569 | ||||
Non-cash interest expense | -8,236 | -9,642 | -26,832 | -39,151 | ||||
Amortization of deferred financing fees | -4,599 | -3,981 | -13,114 | -11,508 | ||||
Loss from extinguishment of debt, net | -14,893 | -3 | -25,080 | -5,764 | ||||
Other income, net | 611 | 34,175 | 20,384 | 34,873 | ||||
Total other expense | -105,126 | -42,164 | -259,909 | -205,507 | ||||
Loss (income) before provision for income taxes | -15,642 | 21,738 | -19,975 | -35,306 | ||||
Provision for income taxes | -982 | -207 | -4,710 | -1,441 | ||||
Net (loss) income | ($16,624) | $21,531 | ($24,685) | ($36,747) | ||||
Net (loss) income per common share | ' | ' | ' | ' | ||||
Basic | ($0.13) | $0.17 | ($0.19) | ($0.29) | ||||
Diluted | ($0.13) | $0.16 | ($0.19) | ($0.29) | ||||
Weighted average number of common shares | ' | ' | ' | ' | ||||
Basic | 129,046 | 127,885 | 128,854 | 127,555 | ||||
Diluted | 129,046 | 136,912 | 128,854 | 127,555 | ||||
[1] | Includes non-cash compensation of $6,319 and $4,146 for the three months ended September 30, 2014 and 2013, respectively, and $16,951 and $12,836 for the nine months ended September 30, 2014 and 2013, respectively. |
Consolidated_Statements_Of_Ope1
Consolidated Statements Of Operations (Parenthetical) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Non-cash compensation expense | ' | ' | $17,231 | $13,010 |
Selling, General And Administrative Expenses [Member] | ' | ' | ' | ' |
Non-cash compensation expense | $6,319 | $4,146 | $16,951 | $12,836 |
Consolidated_Statements_Of_Com
Consolidated Statements Of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Consolidated Statements Of Comprehensive Income (Loss) [Abstract] | ' | ' | ' | ' |
Net (loss) income | ($16,624) | $21,531 | ($24,685) | ($36,747) |
Foreign currency translation adjustments | -128,461 | 1,609 | -60,466 | -15,355 |
Comprehensive (loss) income | ($145,085) | $23,140 | ($85,151) | ($52,102) |
Consolidated_Statement_Of_Shar
Consolidated Statement Of Shareholders' Equity (USD $) | Class A Common Stock [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | Additional Paid-In Capital [Member] | Additional Paid-In Capital [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive (Loss) Income [Member] | Shares - Hedge [Member] | Shares - Warrant [Member] | Total |
In Thousands, except Share data | Shares - Hedge [Member] | Shares - Warrant [Member] | USD ($) | Shares - Hedge [Member] | Shares - Warrant [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) |
USD ($) | USD ($) | USD ($) | |||||||||
BALANCE, Amount at Dec. 31, 2013 | ' | ' | $1,284 | ' | ' | $2,907,446 | ($2,518,085) | ($33,679) | ' | ' | $356,966 |
BALANCE, Shares at Dec. 31, 2013 | ' | ' | 128,432,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Net loss | ' | ' | ' | ' | ' | ' | -24,685 | ' | ' | ' | -24,685 |
Common stock issued in connection with stock purchase/option plans, Amount | ' | ' | 7 | ' | ' | 6,287 | ' | ' | ' | ' | 6,294 |
Common stock issued in connection with stock purchase/option plans, Shares | ' | ' | 657,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Non-cash compensation | ' | ' | ' | ' | ' | 17,480 | ' | ' | ' | ' | 17,480 |
Settlement of convertible notes, Amount | ' | ' | 30 | ' | ' | 9,591 | ' | ' | ' | ' | 9,621 |
Settlement of convertible notes, Shares | ' | ' | 3,008,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement of convertible note hedges and common stock warrants, Amount | -30 | ' | ' | 37 | -602,834 | ' | ' | ' | 7 | -602,834 | ' |
Settlement of convertible note hedges and common stock warrants, Shares | -3,002,000 | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustments | ' | ' | ' | ' | ' | ' | ' | -60,466 | ' | ' | -60,466 |
BALANCE, Amount at Sep. 30, 2014 | ' | ' | $1,291 | ' | ' | $2,338,007 | ($2,542,770) | ($94,145) | ' | ' | ($297,617) |
BALANCE, Shares at Sep. 30, 2014 | ' | ' | 129,096,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net loss | ($24,685) | ($36,747) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' |
Depreciation, accretion, and amortization | 464,858 | 400,006 |
Non-cash interest expense | 26,832 | 39,151 |
Deferred income tax expense (benefit) | -1,043 | -2,670 |
Non-cash asset impairment and decommission costs | 9,909 | 13,097 |
Non-cash compensation expense | 17,231 | 13,010 |
Amortization of deferred financing fees | 13,114 | 11,508 |
Loss from extinguishment of debt, net | 25,080 | 5,764 |
Unrealized gain on foreign currency swap contract | ' | -6,893 |
Gain on sale of bankruptcy claim on convertible hedge | ' | -27,870 |
Other non-cash items reflected in the Statements of Operations | 2,323 | 1,368 |
Changes in operating assets and liabilities, net of acquisitions: | ' | ' |
Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts, net | -10,649 | -34,531 |
Prepaid and other assets | -43,923 | -68,622 |
Accounts payable and accrued expenses | -9,750 | 2,996 |
Accrued interest | -659 | 137 |
Other liabilities | 34,541 | 33,344 |
Net cash provided by operating activities | 503,179 | 343,048 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Acquisitions | -1,048,748 | -347,055 |
Capital expenditures | -131,347 | -103,373 |
Other investing activities | -1,782 | 960 |
Net cash used in investing activities | -1,181,877 | -449,468 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Borrowings under Revolving Credit Facility | 575,000 | 125,000 |
Repayments under Revolving Credit Facility | -490,000 | -225,000 |
Repayment of Term Loans | -303,000 | -509,500 |
Proceeds from Term Loans, net of fees | 1,483,337 | ' |
Payment for the redemption of 8.25% Notes | -253,805 | ' |
Proceeds from employee stock purchase/stock option plans | 6,294 | 10,167 |
Proceeds from 4.875% Senior Notes, net of fees | 732,459 | ' |
Proceeds from settlement of convertible note hedges | 7 | 182,855 |
Proceeds from issuance of Tower Securities | ' | 1,304,854 |
Payments for settlement of convertible debt | -132,592 | -794,997 |
Payments for settlement of common stock warrants | -602,834 | -42,424 |
Proceeds from sale of bankruptcy claim on convertible hedge | ' | 27,870 |
Payment for earn-outs | -16,346 | -1,310 |
Other financing activities | -8,157 | -16,005 |
Net cash provided by financing activities | 990,363 | 61,510 |
Effect of exchange rate changes on cash and cash equivalents | 16,480 | 1,220 |
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | 328,145 | -43,690 |
CASH AND CASH EQUIVALENTS: | ' | ' |
Beginning of period | 122,112 | 233,099 |
End of period | 450,257 | 189,409 |
Cash paid during the period for: | ' | ' |
Interest | 216,103 | 185,408 |
Income taxes | 6,377 | 5,208 |
SUPPLEMENTAL CASH FLOW INFORMATION OF NON-CASH ACTIVITIES: | ' | ' |
Assets acquired through capital leases | 1,290 | 1,239 |
Issuance of stock for settlement of convertible debt and warrants, net of hedges | 284 | 18,158 |
Liabilities assumed on acquisition | ' | $9,796 |
Consolidated_Statements_Of_Cas1
Consolidated Statements Of Cash Flows (Parenthetical) | Sep. 30, 2014 | Jul. 24, 2009 | Sep. 30, 2014 | Jul. 01, 2014 |
8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | |
Debt instrument stated percentage | 8.25% | 8.25% | 4.88% | 4.88% |
Basis_Of_Presentation
Basis Of Presentation | 9 Months Ended |
Sep. 30, 2014 | |
Basis Of Presentation [Abstract] | ' |
Basis of Presentation | ' |
1.BASIS OF PRESENTATION | |
The accompanying consolidated financial statements should be read in conjunction with the Annual Report on Form 10-K for the fiscal year ended December 31, 2013 for SBA Communications Corporation and its subsidiaries (the “Company”). These financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and, therefore, omit or condense certain footnotes and other information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States. In the opinion of the Company’s management, all adjustments (consisting of normal recurring accruals) considered necessary for fair financial statement presentation have been made. The results of operations for an interim period may not give a true indication of the results for the year. Certain reclassifications have been made to prior year amounts or balances to conform to the presentation adopted in the current year. | |
The preparation of financial statements requires management to make estimates and assumptions that affect the amounts reported in consolidated financial statements and accompanying notes. While the Company believes that such estimates are fair when considered in conjunction with the consolidated financial statements and accompanying notes, the actual amount of such estimates, when known, will vary from these estimates. | |
Foreign Currency Translation | |
All assets and liabilities of foreign subsidiaries that do not utilize the United States dollar as its functional currency (Brazil and Canada) are translated at period-end rates of exchange, while revenues and expenses are translated at monthly weighted average rates of exchange for the year. Unrealized translation gains and losses are reported as foreign currency translation adjustments through other comprehensive income (loss) in shareholders’ equity. | |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||
2.FAIR VALUE MEASUREMENTS | |||||||||||||||||||
Items Measured at Fair Value on a Recurring Basis— The Company’s earnouts related to acquisitions are measured at fair value on a recurring basis using Level 3 inputs. Level 3 valuations rely on unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. The Company determines the fair value of acquisition-related contingent consideration and any subsequent changes in fair value using a discounted probability-weighted approach using Level 3 inputs. The fair value of the earnouts is reviewed quarterly and is based on the payments the Company expects to make based on historical internal observations related to the anticipated performance of the underlying assets. The Company’s estimate of the fair value of its obligation if the performance targets contained in various acquisition agreements were met was $23.1 million and $30.1 million as of September 30, 2014 and December 31, 2013, respectively, which the Company recorded in accrued expenses on its Consolidated Balance Sheets. The maximum potential obligation related to the performance targets was $35.7 million as of September 30, 2014. | |||||||||||||||||||
The following summarizes the activity of the accrued earnouts: | |||||||||||||||||||
2014 | 2013 | ||||||||||||||||||
(in thousands) | |||||||||||||||||||
Beginning balance, December 31, 2013 and 2012, respectively | $ | 30,063 | $ | 9,840 | |||||||||||||||
Additions | 10,384 | 19,342 | |||||||||||||||||
Payments | -16,346 | -1,310 | |||||||||||||||||
Expirations | -573 | -1,863 | |||||||||||||||||
Change in estimate | -946 | -105 | |||||||||||||||||
Foreign currency translation adjustments | 554 | 61 | |||||||||||||||||
Ending balance, September 30, | $ | 23,136 | $ | 25,965 | |||||||||||||||
Items Measured at Fair Value on a Nonrecurring Basis— The Company’s long-lived assets, intangibles, and asset retirement obligations are measured at fair value on a nonrecurring basis using Level 3 inputs. The Company considers many factors and makes certain assumptions when making this assessment, including but not limited to: general market and economic conditions, historical operating results, geographic location, lease-up potential and expected timing of lease-up. The fair value of the long-lived assets, intangibles, and asset retirement obligations is calculated using a discounted cash flow model. During the three and nine months ended September 30, 2014, the Company recognized an impairment charge of $6.0 million and $13.6 million, respectively. The impairment charge includes the write off of $5.2 million and $10.8 million in carrying value of decommissioned towers and other third party decommission costs incurred related to the Company’s long-lived assets and intangibles for the three and nine months ended September 30, 2014, respectively. During the three and nine months ended September 30, 2013, the Company recognized an impairment charge of $6.2 million and $16.4 million, respectively. The impairment charge includes the write off of $4.9 million and $12.3 million in carrying value of decommissioned towers and other third party decommission costs incurred related to the Company’s long-lived assets and intangibles for the three and nine months ended September 30, 2013, respectively. These write offs result from the Company’s analysis that the future cash flows from certain towers would not recover the carrying value of the investment in those towers. Impairment charges and the related impaired assets relate to the Company’s site leasing operating segment. | |||||||||||||||||||
Fair Value of Financial Instruments— The carrying values of cash and cash equivalents, accounts receivable, restricted cash, accounts payable, and short-term investments approximate their estimated fair values due to the short maturity of these instruments. Short-term investments consisted of $5.3 million and $5.2 million in certificate of deposits, as of September 30, 2014 and December 31, 2013, respectively. The Company’s estimate of the fair value of its held-to-maturity investments in treasury and corporate bonds, including current portion, are based primarily upon Level 1 reported market values. As of September 30, 2014, the carrying value and fair value of the held-to-maturity investments, including current portion, were $1.2 million and $1.3 million, respectively. As of December 31, 2013, the carrying value and fair value of the held-to-maturity investments, including current portion, was $1.1 million and $1.3 million, respectively. | |||||||||||||||||||
The Company determines fair value of its debt instruments utilizing various Level 2 sources including quoted prices and indicative quotes (non-binding quotes) from brokers that require judgment to interpret market information including implied credit spreads for similar borrowings on recent trades or bid/ask prices. The fair value of the Revolving Credit Facility is considered to approximate the carrying value because the interest payments are based on Eurodollar rates that reset every month. The Company does not believe its credit risk has changed materially from the date the applicable Eurodollar Rate plus 187.5 to 237.5 basis points was set for the Revolving Credit Facility. The following table reflects fair values, principal balances, and carrying values of the Company’s debt instruments (see Note 11). | |||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||
Fair Value | Principal Balance | Carrying Value | Fair Value | Principal Balance | Carrying Value | ||||||||||||||
(in thousands) | |||||||||||||||||||
4.000% Convertible Senior Notes due 2014 | $ | 1,325,115 | $ | 367,068 | $ | 367,068 | $ | 1,479,859 | $ | 499,944 | $ | 468,394 | |||||||
8.250% Senior Notes due 2019 | — | — | — | 262,031 | 243,750 | 242,387 | |||||||||||||
5.625% Senior Notes due 2019 | 507,500 | 500,000 | 500,000 | 514,375 | 500,000 | 500,000 | |||||||||||||
5.750% Senior Notes due 2020 | 814,000 | 800,000 | 800,000 | 832,000 | 800,000 | 800,000 | |||||||||||||
4.875% Senior Notes due 2022 | 729,375 | 750,000 | 743,992 | — | — | — | |||||||||||||
4.254% 2010-1 Tower Securities | 680,503 | 680,000 | 680,000 | 689,717 | 680,000 | 680,000 | |||||||||||||
5.101% 2010-2 Tower Securities | 573,392 | 550,000 | 550,000 | 586,586 | 550,000 | 550,000 | |||||||||||||
2.933% 2012-1Tower Securities | 616,747 | 610,000 | 610,000 | 604,736 | 610,000 | 610,000 | |||||||||||||
2.240% 2013-1C Tower Securities | 419,598 | 425,000 | 425,000 | 408,442 | 425,000 | 425,000 | |||||||||||||
3.722% 2013-2C Tower Securities | 570,751 | 575,000 | 575,000 | 530,098 | 575,000 | 575,000 | |||||||||||||
3.598% 2013-1D Tower Securities | 330,759 | 330,000 | 330,000 | 318,856 | 330,000 | 330,000 | |||||||||||||
Revolving Credit Facility | 300,000 | 300,000 | 300,000 | 215,000 | 215,000 | 215,000 | |||||||||||||
2011 Term Loan | — | — | — | 180,980 | 180,529 | 180,234 | |||||||||||||
2012-1 Term Loan | 175,809 | 176,250 | 176,250 | 184,538 | 185,000 | 185,000 | |||||||||||||
2012-2 Term Loan | — | — | — | 110,383 | 109,971 | 109,745 | |||||||||||||
2014 Term Loan | 1,458,844 | 1,496,250 | 1,492,778 | — | — | — | |||||||||||||
BNDES Loans | — | — | — | 5,847 | 5,847 | 5,847 | |||||||||||||
Totals | $ | 8,502,393 | $ | 7,559,568 | $ | 7,550,088 | $ | 6,923,448 | $ | 5,910,041 | $ | 5,876,607 | |||||||
Restricted_Cash
Restricted Cash | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Restricted Cash [Abstract] | ' | ||||||||
Restricted Cash | ' | ||||||||
3.RESTRICTED CASH | |||||||||
Restricted cash consists of the following: | |||||||||
As of | As of | ||||||||
30-Sep-14 | 31-Dec-13 | Included on Balance Sheet | |||||||
(in thousands) | |||||||||
Securitization escrow accounts | $ | 45,871 | $ | 46,364 | Restricted cash - current asset | ||||
Payment and performance bonds | 400 | 941 | Restricted cash - current asset | ||||||
Surety bonds and workers compensation | 5,934 | 8,991 | Other assets - noncurrent | ||||||
Total restricted cash | $ | 52,205 | $ | 56,296 | |||||
Pursuant to the terms of the Tower Securities (see Note 11), the Company is required to establish a securitization escrow account, held by an indenture trustee, into which all rents and other sums due on the towers that secure the Tower Securities are directly deposited by the lessees. These restricted cash amounts are used to fund reserve accounts for the payment of (1) debt service costs, (2) ground rents, real estate and personal property taxes and insurance premiums related to towers, (3) trustee and servicing expenses, and (4) management fees and to reserve a portion of advance rents from tenants. The restricted cash in the controlled deposit account in excess of required reserve balances is subsequently released to the Borrowers (as defined in Note 11) monthly, provided that the Borrowers are in compliance with their debt service coverage ratio and that no event of default has occurred. All monies held by the indenture trustee are classified as restricted cash on the Company’s Consolidated Balance Sheets. | |||||||||
Payment and performance bonds relate primarily to collateral requirements for tower construction currently in process by the Company. Cash is pledged as collateral related to surety bonds issued for the benefit of the Company or its affiliates in the ordinary course of business and primarily relates to the Company’s tower removal obligations. As of September 30, 2014, the Company had $40.0 million in surety bonds and payment and performance bonds for which it was only required to post $2.7 million in collateral. As of December 31, 2013, the Company had $42.0 million in surety, payment and performance bonds for which it was only required to post $6.1 million in collateral. The Company periodically evaluates the collateral posted for its bonds to ensure that it meets the minimum requirements. As of September 30, 2014 and December 31, 2013, the Company had also pledged $2.6 million and $2.3 million, respectively, as collateral related to its workers compensation policy. | |||||||||
Other_Assets
Other Assets | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Other Assets [Abstract] | ' | ||||||
Other Assets | ' | ||||||
4.OTHER ASSETS | |||||||
The Company’s other assets are comprised of the following: | |||||||
As of | As of | ||||||
30-Sep-14 | 31-Dec-13 | ||||||
(in thousands) | |||||||
Restricted cash | $ | 5,934 | $ | 8,991 | |||
Long-term investments | 52,716 | 52,801 | |||||
Prepaid land rent | 129,319 | 119,047 | |||||
Straight-line rent receivable | 218,435 | 179,292 | |||||
Other | 50,717 | 40,721 | |||||
Total other assets | $ | 457,121 | $ | 400,852 | |||
Acquisitions
Acquisitions | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Acquisitions [Abstract] | ' | ||||||||||||
Acquisitions | ' | ||||||||||||
5.ACQUISITIONS | |||||||||||||
The Company acquired 94 communication sites and related assets and liabilities and the rights to manage 4 additional communication sites during the three months ended September 30, 2014. These acquisitions were not significant to the Company and, accordingly, a preliminary estimate of the fair value of the assets acquired and liabilities assumed has not been presented. The Company evaluates all acquisitions after the applicable closing date of each transaction to determine whether any additional adjustments are needed to the allocation of the purchase price paid for the assets acquired and liabilities assumed by major balance sheet caption, as well as the separate recognition of intangible assets from goodwill if certain criteria are met. | |||||||||||||
The following table summarizes all of the Company’s cash acquisition capital expenditures: | |||||||||||||
For the three months | For the nine months | ||||||||||||
ended September 30, | ended September 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
(in thousands) | |||||||||||||
Towers and related intangible assets | $ | 71,688 | $ | 80,326 | $ | 1,019,733 | $ | 311,191 | |||||
Ground lease buyouts (1) | 9,586 | 11,320 | 29,015 | 35,864 | |||||||||
Total cash acquisition capital expenditures | $ | 81,274 | $ | 91,646 | $ | 1,048,748 | $ | 347,055 | |||||
-1 | In addition, the Company paid $2.7 million and $2.8 million for ground lease extensions and term easements during the three months ended September 30, 2014 and 2013, respectively, and $7.8 million and $7.6 million for ground lease extensions during the nine months ended September 30, 2014 and 2013, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets. | ||||||||||||
Subsequent to September 30, 2014, the Company acquired 52 communication sites and related assets and liabilities for $40.6 million in cash. | |||||||||||||
Foreign Currency Forward Contract | |||||||||||||
On September 29, 2014, the Company executed put and call option contracts settling on November 25, 2014 which create a “costless collar” based on the cost to purchase $1.17 billion Brazilian Reals with US Dollars. The options are intended to limit exposure to movements in the related exchange rates and were entered into in contemplation of the purchase of the Oi S.A. acquisition that is anticipated to close December 1, 2014. These options create a floor price for the purchase of Brazilian Reals of 2.4 and a ceiling price of 2.5665. These contracts did not qualify for hedge accounting and, as such, any gains and losses would be reflected within Other Income, net in the accompanying Consolidated Statement of Operations. As of September 30, 2014, there was no gain or loss recognized in connection with these contracts. | |||||||||||||
Intangible_Assets_Net
Intangible Assets, Net | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Intangible Assets, Net [Abstract] | ' | ||||||||||||||||||
Intangible Assets, Net | ' | ||||||||||||||||||
6.INTANGIBLE ASSETS, NET | |||||||||||||||||||
The following table provides the gross and net carrying amounts for each major class of intangible assets: | |||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||
Gross carrying | Accumulated | Net book | Gross carrying | Accumulated | Net book | ||||||||||||||
amount | amortization | value | amount | amortization | value | ||||||||||||||
(in thousands) | |||||||||||||||||||
Current contract intangibles | $ | 3,800,298 | $ | -830,888 | $ | 2,969,410 | $ | 3,154,616 | $ | -649,861 | $ | 2,504,755 | |||||||
Network location intangibles | 1,331,398 | -390,053 | 941,345 | 1,209,142 | -326,699 | 882,443 | |||||||||||||
Intangible assets, net | $ | 5,131,696 | $ | -1,220,941 | $ | 3,910,755 | $ | 4,363,758 | $ | -976,560 | $ | 3,387,198 | |||||||
All intangible assets noted above are included in the Company’s site leasing segments. The Company amortizes its intangible assets using the straight-line method over an estimated economic life of 15 years. Amortization expense relating to the intangible assets was $86.2 million and $68.1 million for the three months ended September 30, 2014 and 2013, respectively, and $250.5 million and $201.7 million for the nine months ended September 30, 2014 and 2013, respectively. These amounts are subject to changes in estimates resulting from purchase price adjustments. | |||||||||||||||||||
Property_And_Equipment_Net
Property And Equipment, Net | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Property And Equipment, Net [Abstract] | ' | ||||||
Property And Equipment, Net | ' | ||||||
7.PROPERTY AND EQUIPMENT, NET | |||||||
Property and equipment, net (including assets held under capital leases) consists of the following: | |||||||
As of | As of | ||||||
30-Sep-14 | 31-Dec-13 | ||||||
(in thousands) | |||||||
Towers and related components | $ | 4,070,524 | $ | 3,821,482 | |||
Construction-in-process | 37,867 | 24,275 | |||||
Furniture, equipment, and vehicles | 50,686 | 40,274 | |||||
Land, buildings, and improvements | 405,212 | 364,830 | |||||
4,564,289 | 4,250,861 | ||||||
Less: accumulated depreciation | -1,876,462 | -1,672,417 | |||||
Property and equipment, net | $ | 2,687,827 | $ | 2,578,444 | |||
Construction-in-process represents costs incurred related to towers that are under development and will be used in the Company’s operations. Depreciation expense was $73.0 million and $65.1 million for the three months ended September 30, 2014 and 2013, respectively, and $213.7 million and $198.1 million for the nine months ended September 30, 2014 and 2013, respectively. At September 30, 2014 and December 31, 2013, non-cash capital expenditures that are included in accounts payable and accrued expenses were $19.3 million and $11.4 million, respectively. | |||||||
Costs_And_Estimated_Earnings_O
Costs And Estimated Earnings On Uncompleted Contracts | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Costs And Estimated Earnings On Uncompleted Contracts [Abstract] | ' | ||||||
Costs And Estimated Earnings On Uncompleted Contracts | ' | ||||||
8.COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS | |||||||
Costs and estimated earnings on uncompleted contracts consist of the following: | |||||||
As of | As of | ||||||
30-Sep-14 | 31-Dec-13 | ||||||
(in thousands) | |||||||
Costs incurred on uncompleted contracts | $ | 121,782 | $ | 94,145 | |||
Estimated earnings | 53,720 | 32,547 | |||||
Billings to date | -153,216 | -108,070 | |||||
$ | 22,286 | $ | 18,622 | ||||
These amounts are included in the accompanying Consolidated Balance Sheets under the following captions: | |||||||
As of | As of | ||||||
30-Sep-14 | 31-Dec-13 | ||||||
(in thousands) | |||||||
Costs and estimated earnings in excess of | |||||||
billings on uncompleted contracts | $ | 29,105 | $ | 27,864 | |||
Other current liabilities (Billings in excess of costs and | |||||||
estimated earnings on uncompleted contracts) | -6,819 | -9,242 | |||||
$ | 22,286 | $ | 18,622 | ||||
Eight significant customers comprised 87.8% and 89.6% of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings on uncompleted contracts at September 30, 2014 and December 31, 2013, respectively. | |||||||
Concentration_Of_Credit_Risk
Concentration Of Credit Risk | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Concentration Of Credit Risk [Abstract] | ' | ||||||||
Concentration of Credit Risk | ' | ||||||||
9.CONCENTRATION OF CREDIT RISK | |||||||||
The Company’s credit risks consist primarily of accounts receivable with national, regional, and local wireless service providers and federal and state government agencies. The Company performs periodic credit evaluations of its customers’ financial condition and provides allowances for doubtful accounts, as required, based upon factors surrounding the credit risk of specific customers, historical trends, and other information. The Company generally does not require collateral on its lease agreements or site development contracts. | |||||||||
The following is a list of significant customers (representing at least 10% of segment revenues for the periods reported) and the percentage of total segment revenues for the specified time periods derived from such customers. | |||||||||
For the three months | For the nine months | ||||||||
ended September 30, | ended September 30, | ||||||||
2014 | 2013 | 2014 | 2013 | ||||||
Percentage of Domestic Site Leasing Revenue | |||||||||
AT&T Wireless (1) | 31.10% | 27.20% | 29.70% | 25.80% | |||||
Sprint (2) | 25.10% | 30.80% | 26.20% | 30.40% | |||||
T-Mobile (3) | 19.10% | 18.10% | 19.40% | 17.90% | |||||
Verizon Wireless | 14.20% | 13.70% | 14.00% | 13.10% | |||||
For the three months | For the nine months | ||||||||
ended September 30, | ended September 30, | ||||||||
2014 | 2013 | 2014 | 2013 | ||||||
Percentage of International Site Leasing Revenue | |||||||||
Oi | 46.20% | 1.30% | 43.10% | 1.20% | |||||
Telefonica | 27.20% | 49.30% | 30.20% | 52.00% | |||||
Digicel | 4.50% | 11.80% | 5.00% | 12.00% | |||||
For the three months | For the nine months | ||||||||
ended September 30, | ended September 30, | ||||||||
2014 | 2013 | 2014 | 2013 | ||||||
Percentage of Site Development Revenue | |||||||||
Sprint (2) | 46.10% | 1.80% | 32.20% | 0.90% | |||||
Ericsson, Inc. | 16.10% | 32.20% | 17.20% | 38.10% | |||||
Verizon Wireless | 10.00% | 4.90% | 9.80% | 4.30% | |||||
T-Mobile (3) | 7.40% | 10.50% | 8.90% | 7.90% | |||||
Alcatel-Lucent | 0.70% | 8.10% | 2.50% | 10.10% | |||||
(1)Prior year amounts have been adjusted to reflect the merger of AT&T Wireless and Cricket. | |||||||||
(2)Prior year amounts have been adjusted to reflect the merger of Sprint and Clearwire. | |||||||||
(3)Prior year amounts have been adjusted to reflect the merger of T-Mobile and Metro PCS. | |||||||||
Five significant customers comprised 54.2% and 51.5% of total gross accounts receivable at September 30, 2014 and December 31, 2013, respectively. | |||||||||
Accrued_Expenses
Accrued Expenses | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Accrued Expenses [Abstract] | ' | ||||||
Accrued Expenses | ' | ||||||
10.ACCRUED EXPENSES | |||||||
The Company’s accrued expenses are comprised of the following: | |||||||
As of | As of | ||||||
30-Sep-14 | 31-Dec-13 | ||||||
(in thousands) | |||||||
Accrued earnouts | $ | 23,136 | $ | 30,063 | |||
Salaries and benefits | 12,340 | 11,351 | |||||
Real estate and property taxes | 9,224 | 9,814 | |||||
Other | 33,943 | 34,903 | |||||
$ | 78,643 | $ | 86,131 | ||||
Debt
Debt | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Debt [Abstract] | ' | ||||||||||||||||||||||||
Debt | ' | ||||||||||||||||||||||||
11. DEBT | |||||||||||||||||||||||||
The carrying and principal values of debt consist of the following (in thousands): | |||||||||||||||||||||||||
Maturity | As of | As of | |||||||||||||||||||||||
Date | 30-Sep-14 | 31-Dec-13 | |||||||||||||||||||||||
Principal Balance | Carrying Value | Principal Balance | Carrying Value | ||||||||||||||||||||||
4.000% Convertible Senior Notes | Oct. 1, 2014 | $ | 367,068 | $ | 367,068 | $ | 499,944 | $ | 468,394 | ||||||||||||||||
8.250% Senior Notes | Aug. 15, 2019 | — | — | 243,750 | 242,387 | ||||||||||||||||||||
5.625% Senior Notes | Oct. 1, 2019 | 500,000 | 500,000 | 500,000 | 500,000 | ||||||||||||||||||||
5.750% Senior Notes | 15-Jul-20 | 800,000 | 800,000 | 800,000 | 800,000 | ||||||||||||||||||||
4.875% Senior Notes | 15-Jul-22 | 750,000 | 743,992 | — | — | ||||||||||||||||||||
4.254% 2010-1 Tower Securities | 15-Apr-15 | 680,000 | 680,000 | 680,000 | 680,000 | ||||||||||||||||||||
5.101% 2010-2 Tower Securities | 17-Apr-17 | 550,000 | 550,000 | 550,000 | 550,000 | ||||||||||||||||||||
2.933% 2012-1 Tower Securities | Dec. 15, 2017 | 610,000 | 610,000 | 610,000 | 610,000 | ||||||||||||||||||||
2.240% 2013-1C Tower Securities | 16-Apr-18 | 425,000 | 425,000 | 425,000 | 425,000 | ||||||||||||||||||||
3.722% 2013-2C Tower Securities | 17-Apr-23 | 575,000 | 575,000 | 575,000 | 575,000 | ||||||||||||||||||||
3.598% 2013-1D Tower Securities | 16-Apr-18 | 330,000 | 330,000 | 330,000 | 330,000 | ||||||||||||||||||||
Revolving Credit Facility | 9-May-17 | 300,000 | 300,000 | 215,000 | 215,000 | ||||||||||||||||||||
2011 Term Loan | 30-Jun-18 | — | — | 180,529 | 180,234 | ||||||||||||||||||||
2012-1 Term Loan | 9-May-17 | 176,250 | 176,250 | 185,000 | 185,000 | ||||||||||||||||||||
2012-2 Term Loan | Sept. 28, 2019 | — | — | 109,971 | 109,745 | ||||||||||||||||||||
2014 Term Loan | Mar. 24, 2021 | 1,496,250 | 1,492,778 | — | — | ||||||||||||||||||||
BNDES Loans | various | — | — | 5,847 | 5,847 | ||||||||||||||||||||
Total debt | $ | 7,559,568 | $ | 7,550,088 | $ | 5,910,041 | $ | 5,876,607 | |||||||||||||||||
Less: current maturities of long-term debt | -1,078,318 | -481,886 | |||||||||||||||||||||||
Total long-term debt, net of current maturities | $ | 6,471,770 | $ | 5,394,721 | |||||||||||||||||||||
The table below reflects cash and non-cash interest expense amounts recognized by debt instrument for the periods presented: | |||||||||||||||||||||||||
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Cash | Non-cash | Cash | Non-cash | Cash | Non-cash | Cash | Non-cash | ||||||||||||||||||
Interest | Interest | Interest | Interest | Interest | Interest | Interest | Interest | ||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
1.875% Convertible Senior Notes | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2,670 | $ | 10,434 | |||||||||
4.0% Convertible Senior Notes | 3,675 | 7,934 | 4,999 | 9,570 | 12,520 | 26,266 | 14,999 | 28,446 | |||||||||||||||||
8.25% Senior Notes | 2,458 | 24 | 5,027 | 46 | 12,513 | 121 | 15,082 | 135 | |||||||||||||||||
5.625% Senior Notes | 7,031 | — | 7,031 | — | 21,094 | — | 21,094 | — | |||||||||||||||||
5.75% Senior Notes | 11,500 | — | 11,500 | — | 34,500 | — | 34,500 | — | |||||||||||||||||
4.875% Senior Notes | 9,141 | 157 | — | — | 9,141 | 157 | — | — | |||||||||||||||||
2010 Secured Tower Rev Securities | 14,346 | — | 14,349 | — | 43,036 | — | 43,037 | — | |||||||||||||||||
2012 Secured Tower Rev Securities | 4,521 | — | 4,521 | — | 13,564 | — | 13,564 | — | |||||||||||||||||
2013 Secured Tower Rev Securities | 10,804 | — | 10,804 | — | 32,413 | — | 19,588 | — | |||||||||||||||||
Revolving Credit Facility | 1,007 | — | 856 | — | 3,279 | — | 3,338 | — | |||||||||||||||||
2011 Term Loan | — | — | 1,730 | 16 | 696 | 7 | 8,802 | 85 | |||||||||||||||||
2012-1 Term Loan | 1,222 | — | 1,123 | — | 3,336 | — | 3,516 | — | |||||||||||||||||
2012-2 Term Loan | — | — | 1,054 | 10 | 424 | 4 | 5,362 | 51 | |||||||||||||||||
2014 Term Loan | 12,458 | 121 | — | — | 28,911 | 277 | — | — | |||||||||||||||||
Other | 7 | — | -7 | — | 268 | — | 17 | — | |||||||||||||||||
Total | $ | 78,170 | $ | 8,236 | $ | 62,987 | $ | 9,642 | $ | 215,695 | $ | 26,832 | $ | 185,569 | $ | 39,151 | |||||||||
Revolving Credit Facility under the Senior Credit Agreement | |||||||||||||||||||||||||
The Revolving Credit Facility is governed by the Senior Credit Agreement. As of September 30, 2014, the Revolving Credit Facility consisted of a revolving loan under which up to $770.0 million aggregate principal amount may be borrowed, repaid and redrawn, subject to compliance with specific financial ratios and the satisfaction of other customary conditions to borrowing. Amounts borrowed under the Revolving Credit Facility accrue interest at the Eurodollar Rate plus a margin that ranges from 187.5 basis points to 237.5 basis points or at a Base Rate plus a margin that ranges from 87.5 basis points to 137.5 basis points, in each case based on the ratio of Consolidated Total Debt to Annualized Borrower EBITDA, calculated in accordance with the Senior Credit Agreement. If not earlier terminated by SBA Senior Finance II LLC (“SBA Senior Finance II”), a subsidiary of the Company, the Revolving Credit Facility will terminate on, and SBA Senior Finance II will repay all amounts outstanding on or before, May 9, 2017. The proceeds available under the Revolving Credit Facility may be used for general corporate purposes. A per annum commitment fee of 0.375% to 0.5% of the unused commitments under the Revolving Credit Facility is charged based on the ratio of Consolidated Total Debt to Annualized Borrower EBITDA (calculated in accordance with the Senior Credit Agreement). SBA Senior Finance II may, from time to time, borrow from and repay the Revolving Credit Facility. Consequently, the amount outstanding under the Revolving Credit Facility at the end of a period may not be reflective of the total amounts outstanding during such period. As of September 30, 2014, the Revolving Credit Facility was accruing interest at 2.535% per annum. | |||||||||||||||||||||||||
During the three and nine months ended September 30, 2014, the Company borrowed $300.0 million and $575.0 million, respectively, under the Revolving Credit Facility. During the three and nine months ended September 30, 2014, the Company repaid $100.0 million and $490.0 million, respectively, of the outstanding balance under the Revolving Credit Facility. As of September 30, 2014, $300.0 million was outstanding under the Revolving Credit Facility. Subsequent to September 30, 2014, the Company repaid the remaining $300.0 million outstanding balance under the Revolving Credit Facility with proceeds from the issuance of the 2014 Tower Securities (defined below). As of the date of this filing, no amounts were outstanding under the Revolving Credit Facility, and the amount available based on specified covenants under the facility was $770.0 million. | |||||||||||||||||||||||||
On February 7, 2014, SBA Senior Finance II entered into a Second Amended and Restated Credit Agreement (as amended and restated, the “Senior Credit Agreement”) with several banks and other financial institutions or entities from time to time parties to the Senior Credit Agreement to, among other things, obtain a $1.5 billion senior secured term loan (the “2014 Term Loan”) and to amend certain terms of the existing senior credit agreement. In addition to providing for the 2014 Term Loan, the Senior Credit Agreement was amended to, among other things, amend the terms of certain events of default, modify certain negative covenants and remove the parent financial maintenance leverage covenant to reflect the increased size of SBA Senior Finance II and its restricted subsidiaries. All other material terms of the Senior Credit Agreement, as it existed prior to February 7, 2014, remained unchanged. | |||||||||||||||||||||||||
Term Loans under the Senior Credit Agreement | |||||||||||||||||||||||||
2011 Term Loan | |||||||||||||||||||||||||
On February 7, 2014, the Company repaid the remaining $180.5 million outstanding principal balance of the 2011 Term Loan. In connection with the prepayment, the Company expensed $1.1 million of net deferred financing fees and $0.3 million of discount related to the debt. | |||||||||||||||||||||||||
2012-1 Term Loan | |||||||||||||||||||||||||
The 2012-1 Term Loan consists of a senior secured term loan with an initial aggregate principal amount of $200.0 million that matures on May 9, 2017. The 2012-1 Term Loan accrues interest, at SBA Senior Finance II’s election, at either the Base Rate plus a margin that ranges from 100 to 150 basis points or the Eurodollar Rate plus a margin that ranges from 200 to 250 basis points, in each case based on the ratio of Consolidated Total Debt to Annualized Borrower EBITDA (calculated in accordance with the Senior Credit Agreement). As of September 30, 2014, the 2012-1 Term Loan was accruing interest at 2.66% per annum. Principal payments on the 2012-1 Term Loan commenced on September 30, 2012 and are being made in quarterly installments on the last day of each March, June, September, and December, in an amount equal to $2.5 million for each of the first eight quarters, $3.75 million for the next four quarters and $5.0 million for each quarter thereafter. SBA Senior Finance II has the ability to prepay any or all amounts under the 2012-1 Term Loan without premium or penalty. To the extent not previously repaid, the 2012-1 Term Loan will be due and payable on the maturity date. The 2012-1 Term Loan was issued at par. The Company incurred deferred financing fees of $2.7 million in relation to this transaction which are being amortized through the maturity date. | |||||||||||||||||||||||||
During the three and nine months ended September 30, 2014, the Company repaid $3.8 million and $8.8 million, respectively, of principal on the 2012-1 Term Loan. As of September 30, 2014, the 2012-1 Term Loan had a principal balance of $176.3 million. | |||||||||||||||||||||||||
2012-2 Term Loan | |||||||||||||||||||||||||
On February 7, 2014, the Company repaid the entire $110.0 million outstanding principal balance of the 2012-2 Term Loan. In connection with the prepayment, the Company expensed $1.0 million of net deferred financing fees and $0.2 million of discount related to the debt. | |||||||||||||||||||||||||
2014 Term Loan | |||||||||||||||||||||||||
The 2014 Term Loan consists of a senior secured term loan with an initial aggregate principal amount of $1.5 billion that matures on March 24, 2021. The 2014 Term Loan accrues interest, at SBA Senior Finance II’s election, at either the Base Rate plus 150 basis points (with a Base Rate floor of 1.75%) or the Eurodollar Rate plus 250 basis points (with a Eurodollar Rate floor of 0.75%). The 2014 Term Loan was issued at 99.75% of par value. As of September 30, 2014, the 2014 Term Loan was accruing interest at 3.25% per annum. Principal payments on the 2014 Term Loan commenced on September 30, 2014 and will be made in quarterly installments on the last day of each March, June, September, and December in an amount equal to $3.75 million. SBA Senior Finance II has the ability to prepay any or all amounts under the 2014 Term Loan. The Company has incurred deferred financing fees of approximately $12.9 million to date in relation to this transaction which are being amortized through the maturity date. | |||||||||||||||||||||||||
Net proceeds from the 2014 Term Loan were used (1) to repay in full the remaining $180.5 million balance of the 2011 Term Loan, (2) to repay in full the remaining $110.0 million balance of the 2012-2 Term Loan, (3) to repay the $390.0 million outstanding balance under the Revolving Credit Facility, (4) to pay the cash consideration in connection with SBA’s acquisition of towers from Oi S.A. in Brazil, and (5) for general corporate purposes. | |||||||||||||||||||||||||
Secured Tower Revenue Securities | |||||||||||||||||||||||||
2010 Tower Securities | |||||||||||||||||||||||||
On April 16, 2010, the Company, through a New York common law trust (the “Trust”), issued $680.0 million of 2010-1 Tower Securities and $550.0 million of 2010-2 Tower Securities (together the “2010 Tower Securities”). The 2010-1 Tower Securities have an annual interest rate of 4.254% and the 2010-2 Tower Securities have an annual interest rate of 5.101%. The weighted average annual fixed interest rate of the 2010 Tower Securities is 4.7%, including borrowers’ fees, payable monthly. The anticipated repayment date and the final maturity date for the 2010–1 Tower Securities was April 15, 2015 and April 16, 2040, respectively. The anticipated repayment date and the final maturity date for the 2010–2 Tower Securities is April 17, 2017 and April 15, 2042, respectively. The sole asset of the Trust consists of a non-recourse mortgage loan made in favor of those SBA entities that are borrowers on the mortgage loan (the “Borrowers”). The Company incurred deferred financing fees of $18.0 million in relation to this transaction which are being amortized through the anticipated repayment date of each of the 2010 Tower Securities. | |||||||||||||||||||||||||
On October 15, 2014, the Company repaid in full the 2010-1 Tower Securities with proceeds from the 2014 Tower Securities (defined below). In connection with the prepayment, the Company expensed $1.1 million of net deferred financing fees. | |||||||||||||||||||||||||
2012-1 Tower Securities | |||||||||||||||||||||||||
On August 9, 2012, the Company, through the Trust, issued $610.0 million of Secured Tower Revenue Securities Series 2012-1 (the “2012-1 Tower Securities”) which have an anticipated repayment date and a final maturity date of December 15, 2017 and December 15, 2042, respectively. The fixed interest rate of the 2012-1 Tower Securities is 2.933% per annum, payable monthly. The Company incurred deferred financing fees of $14.9 million in relation to this transaction which are being amortized through the anticipated repayment date of the 2012-1 Tower Securities. | |||||||||||||||||||||||||
2013 Tower Securities | |||||||||||||||||||||||||
On April 18, 2013, the Company, through the Trust, issued $425.0 million of 2.240% Secured Tower Revenue Securities Series 2013-1C which have an anticipated repayment date and a final maturity date of April 16, 2018 and April 15, 2043, respectively, $575.0 million of 3.722% Secured Tower Revenue Securities Series 2013-2C which have an anticipated repayment date and a final maturity date of April 17, 2023 and April 15, 2048, respectively, and $330.0 million of 3.598% Secured Tower Revenue Securities Series 2013-1D which have an anticipated repayment date and a final maturity date of April 16, 2018 and April 15, 2043, respectively (collectively the “2013 Tower Securities”). The aggregate $1.33 billion of 2013 Tower Securities have a blended interest rate of 3.218% and an initial weighted average life through the anticipated repayment date of 7.2 years. The Company incurred an aggregate of deferred financing fees of $25.5 million in relation to this transaction which are being amortized through the anticipated repayment date of each of the 2013 Tower Securities. | |||||||||||||||||||||||||
2014 Tower Securities | |||||||||||||||||||||||||
On October 15, 2014, the Company, through the Trust, issued $920.0 million of 2.898% Secured Tower Revenue Securities Series 2014-1C which have an anticipated repayment date and a final maturity date of October 15, 2019 and October 17, 2044, respectively, and $620.0 million of 3.869% Secured Tower Revenue Securities Series 2014-2C which have an anticipated repayment date and a final maturity date of October 15, 2024 and October 15, 2049, respectively, (collectively the “2014 Tower Securities”). The aggregate $1.54 billion of 2014 Tower Securities have a blended interest rate of 3.289% and a weighted average life through the anticipated repayment date of 7.0 years. Net proceeds from this offering were used to prepay in full $680 million of Series 2010-1 securities and to repay the $300 million outstanding balance under the Company’s Revolving Credit Facility which had been drawn in order to partially repay the 4.0% Notes. The remaining net proceeds will be used for general corporate purposes. The Company has incurred deferred financing fees in the aggregate of $20.9 million in relation to this transaction which are being amortized through the anticipated repayment date of each of the 2014 Tower Securities. | |||||||||||||||||||||||||
As of September 30, 2014, the Borrowers met the debt service coverage ratio required by the mortgage loan agreement and were in compliance with all other covenants as set forth in the agreement. | |||||||||||||||||||||||||
4.0% Convertible Senior Notes due 2014 | |||||||||||||||||||||||||
On April 24, 2009, the Company issued $500.0 million of its 4.0% Convertible Senior Notes (the “4.0% Notes”) in a private placement transaction. Interest was payable semi-annually on April 1 and October 1 and the notes matured on October 1, 2014. The 4.0% Notes were convertible, at the holder’s option, into shares of the Company’s Class A common stock, at an initial conversion rate of 32.9164 shares of its Class A common stock per $1,000 principal amount of 4.0% Notes (subject to certain customary adjustments), which is equivalent to an initial conversion price of approximately $30.38 per share or a 22.5% conversion premium based on the last reported sale price of $24.80 per share of the Company’s Class A common stock on the Nasdaq Global Select Market on April 20, 2009, the purchase agreement date. | |||||||||||||||||||||||||
Concurrently with the pricing of the 4.0% Notes, the Company entered into convertible note hedge and warrant transactions with affiliates of certain of the initial purchasers of the convertible notes. The initial strike price of the convertible note hedge transactions relating to the 4.0% Notes is $30.38 per share of the Company’s Class A common stock (the same as the initial conversion price of the 4.0% Notes) and the upper strike price of the warrant transactions is $44.64 per share. | |||||||||||||||||||||||||
At the time of the issuance of the 4.0% Notes, the Company elected to settle its conversion obligations in stock. Effective March 17, 2014, the Company elected to settle the principal amount of any conversions in cash and any additional conversion consideration at the conversion rate then applicable in shares of its Class A common stock. Concurrently with the settlement of any 4.0% Notes converted, the Company settled the associated convertible note hedges and received an equal number of shares to those issued to the noteholders. | |||||||||||||||||||||||||
During the three and nine months ended September 30, 2014, holders of the 4.0% Notes converted $11.3 million and $132.9 million, respectively, in principal amount of 4.0% Notes. The Company settled its conversion obligation through the payment of the principal amount in cash and the issuance of 0.3 million and 3.0 million shares of its Class A common stock during the three and nine months ended September 30, 2014, respectively. Concurrently with these conversions, the related convertible note hedges were settled, and the Company received 0.4 million (of which 0.1 million related to notices received during the second quarter of 2014) and 3.0 million shares of its Class A common stock during the three and nine months ended September 30, 2014, respectively. As a result, the Company’s outstanding share count was not impacted by the conversion of these notes. | |||||||||||||||||||||||||
During the final settlement period, the Company received conversion notices totaling $367 million in principal of the 4.0% Notes and settled these on October 1, 2014 for $367 million in cash and 8.7 million shares of Class A common stock. Concurrently with the settlement of the Company’s conversion obligation, the Company settled the convertible note hedges that the Company had purchased at the time the 4.0% Notes were issued, receiving 8.7 million shares of its Class A common stock. As a result, SBA’s outstanding share count was not impacted by the conversion of these notes. The remaining $38,000 aggregate principal amount of 4.0% Notes that was not converted matured on October 1, 2014 and was settled in cash at principal plus accrued interest. | |||||||||||||||||||||||||
During the three months ended September 30, 2014, the Company paid $326.6 million to early settle approximately 32% of the outstanding warrants sold in connection with the issuance of the 4.0% Notes, representing approximately 5.3 million underlying shares of Class A common stock, originally scheduled to mature in the first quarter of 2015. During the nine months ended September 30, 2014, the Company paid $602.8 million to early settle approximately 62% of the original warrants sold in connection with the issuance of the 4.0% Notes, representing approximately 10.2 million underlying shares of Class A common stock, originally scheduled to mature in the first quarter of 2015. Subsequent to September 30, 2014, the Company early settled approximately 7% of the original total outstanding warrants for $74.3 million, representing approximately 1.2 million underlying shares, originally scheduled to mature in the first quarter of 2015. As of the date of this filing, the Company has approximately 31% of the original warrants still outstanding representing approximately 5.1 million underlying shares, which are currently scheduled to mature in the first quarter of 2015. | |||||||||||||||||||||||||
Senior Notes | |||||||||||||||||||||||||
8.25% Senior Notes | |||||||||||||||||||||||||
On July 24, 2009, SBA Telecommunications LLC (“Telecommunications”), the Company’s wholly owned subsidiary, issued $375.0 million of unsecured senior notes due August 15, 2019 (the “8.25% Notes”). | |||||||||||||||||||||||||
On April 13, 2012, the Company used the proceeds of an equity offering to redeem $131.3 million in aggregate principal amount of its 8.25% Notes and to pay $10.8 million as a premium on the redemption of the 8.25% Notes. The Company expensed $0.9 million and $2.4 million of debt discount and deferred financing fees, respectively, related to the redemption of the 8.25% Notes. | |||||||||||||||||||||||||
On August 15, 2014, the Company used proceeds from the 4.875% Notes (defined below) to redeem the remaining $243.8 million principal balance and to pay $10.1 million as a premium on redemption of the 8.25% Notes. The Company expensed $1.2 million and $3.3 million of debt discount and deferred financing fees, respectively, related to the redemption of the 8.25% Notes. | |||||||||||||||||||||||||
5.75% Senior Notes | |||||||||||||||||||||||||
On July 13, 2012, Telecommunications issued $800.0 million of unsecured senior notes due July 15, 2020 (the “5.75% Notes”). The 5.75% Notes accrue interest at a rate of 5.75% and were issued at par. Interest on the 5.75% Notes is due semi-annually on July 15 and January 15 of each year beginning on January 15, 2013. The Company incurred deferred financing fees of $14.0 million in relation to this transaction which are being amortized through the maturity date. | |||||||||||||||||||||||||
5.625% Senior Notes | |||||||||||||||||||||||||
On September 28, 2012, the Company issued $500.0 million of unsecured senior notes due October 1, 2019 (the “5.625% Notes”). The 5.625% Notes accrue interest at a rate of 5.625% per annum and were issued at par. Interest on the 5.625% Notes is due semi-annually on April 1 and October 1 of each year beginning on April 1, 2013. The Company incurred deferred financing fees of $8.6 million in relation to this transaction which are being amortized through the maturity date. | |||||||||||||||||||||||||
4.875% Senior Notes | |||||||||||||||||||||||||
On July 1, 2014, the Company issued $750.0 million of unsecured senior notes due July 15, 2022 (the “4.875% Notes”). The 4.875% Notes accrue interest at a rate of 4.875% per annum and were issued at 99.178% of par value. Interest on the 4.875% Notes is due semi-annually on January 15 and July 15 of each year beginning January 15, 2015. The Company incurred deferred financing fees of $11.4 million in relation to this transaction which are being amortized through the maturity date. Net proceeds from the 4.875% Notes were used to (i) redeem all of the 8.25% Notes due 2019 including the associated call premium for $253.0 million and (ii) pay the conversion obligations with respect to approximately $121.0 million aggregate principal amount of our 4.0% Notes. All remaining net proceeds were used for general corporate purposes. | |||||||||||||||||||||||||
BNDES Loans | |||||||||||||||||||||||||
During the nine months ended September 30, 2014, the Company had borrowings of $0.4 million and repayments of $6.3 million under the BNDES Loans. The BNDES Loans were repaid in full in April 2014. | |||||||||||||||||||||||||
Shareholders_Equity
Shareholders' Equity | 9 Months Ended |
Sep. 30, 2014 | |
Shareholders' Equity [Abstract] | ' |
Shareholders' Equity | ' |
12.SHAREHOLDERS’ EQUITY | |
Common Stock equivalents | |
The Company has potential common stock equivalents related to its outstanding stock options (see Note 13), restricted stock units, and the warrants related to the 4.0% Notes (see Note 11). These potential common stock equivalents were not included in diluted loss per share because the effect would have been anti-dilutive for each of the three and nine months ended September 30, 2014, respectively. Accordingly, basic and diluted loss per common share and the weighted average number of shares used in the computation are the same for each period presented. As of September 30, 2013, the Company had potential common stock equivalents related to its outstanding stock options and restricted stock units and the 1.875% Notes and 4.0% Notes. These potential common stock equivalents were considered in the Company’s diluted earnings (loss) per share calculation (see Note 16). | |
Stock Repurchases | |
The Company’s Board of Directors authorized a stock repurchase program on April 27, 2011. This program authorizes the Company to purchase, from time to time, up to $300.0 million of the Company’s outstanding Class A common stock through open market repurchases in compliance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended, and/or in privately negotiated transactions at management’s discretion based on market and business conditions, applicable legal requirements and other factors. This program became effective on April 28, 2011 and will continue until otherwise modified or terminated by the Company’s Board of Directors at any time in the Company’s sole discretion. | |
During the nine months ended September 30, 2014, the Company did not repurchase any shares in conjunction with the stock repurchase program. As of September 30, 2014, the Company had a remaining authorization to repurchase an additional $150.0 million of its common stock under its current $300.0 million stock repurchase program. | |
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Stock-Based Compensation [Abstract] | ' | ||||||||||
Stock-Based Compensation | ' | ||||||||||
13.STOCK-BASED COMPENSATION | |||||||||||
Stock Options | |||||||||||
The Company records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model with the assumptions included in the table below. The Company uses a combination of historical data and historical volatility to establish the expected volatility. Historical data is used to estimate the expected option life and the expected forfeiture rate. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. The following assumptions were used to estimate the fair value of options granted using the Black-Scholes option-pricing model: | |||||||||||
For the nine months ended | |||||||||||
September 30, | |||||||||||
2014 | 2013 | ||||||||||
Risk free interest rate | 1.15% - 1.37% | 0.51% - 1.38% | |||||||||
Dividend yield | 0.00% | 0.00% | |||||||||
Expected volatility | 22.00% | 25.0% - 29.0% | |||||||||
Expected lives | 4.4 years | 3.9 - 4.8 years | |||||||||
The following table summarizes the Company’s activities with respect to its stock option plans for the nine months ended September 30, 2014 as follows (dollars and number of shares in thousands, except for per share data): | |||||||||||
Weighted- | |||||||||||
Weighted- | Average | ||||||||||
Average | Remaining | ||||||||||
Number | Exercise Price | Contractual | Aggregate | ||||||||
of Shares | Per Share | Life (in years) | Intrinsic Value | ||||||||
Outstanding at December 31, 2013 | 2,979 | $ | 48.30 | ||||||||
Granted | 1,121 | $ | 95.51 | ||||||||
Exercised | -743 | $ | 36.20 | ||||||||
Canceled | -29 | $ | 77.89 | ||||||||
Outstanding at September 30, 2014 | 3,328 | $ | 66.64 | 4.9 | $ | 147,296 | |||||
Exercisable at September 30, 2014 | 1,082 | $ | 41.08 | 3.2 | $ | 75,516 | |||||
Unvested at September 30, 2014 | 2,246 | $ | 78.95 | 5.7 | $ | 71,780 | |||||
The weighted-average fair value of options granted during the nine months ended September 30, 2014 and 2013 was $19.49 and $17.20, respectively. The total intrinsic value for options exercised during the nine months ended September 30, 2014 and 2013 was $46.5 million and $30.7 million, respectively. | |||||||||||
Restricted Stock Units | |||||||||||
The following table summarizes the Company’s restricted stock unit activity for the nine months ended September 30, 2014: | |||||||||||
Weighted- | |||||||||||
Average | |||||||||||
Grant Date | |||||||||||
Number of | Fair Value per | ||||||||||
Units | Share | ||||||||||
(in thousands) | |||||||||||
Outstanding at December 31, 2013 | 305 | $ | 55.60 | ||||||||
Granted | 118 | $ | 95.55 | ||||||||
Vested | -121 | $ | 50.14 | ||||||||
Forfeited/canceled | -3 | $ | 74.31 | ||||||||
Outstanding at September 30, 2014 | 299 | $ | 73.42 | ||||||||
Income_Taxes
Income Taxes | 9 Months Ended |
Sep. 30, 2014 | |
Income Taxes [Abstract] | ' |
Income Taxes | ' |
14.INCOME TAXES | |
The Company had U.S. taxable losses during the three and nine months ended September 30, 2014 and 2013, and, as a result, federal and state net operating loss carry-forwards were generated. The U.S. federal and state net operating loss carry-forwards of the Company have a full valuation allowance as management believes that the Company will not generate sufficient taxable income in future periods to realize the losses. A foreign tax provision is recognized because certain international subsidiaries of the Company have profitable operations or a net deferred tax liability position. | |
Segment_Data
Segment Data | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Data [Abstract] | ' | |||||||||||||||
Segment Data | ' | |||||||||||||||
15.SEGMENT DATA | ||||||||||||||||
The Company operates principally in two business segments: site leasing and site development. The Company’s reportable segments are strategic business units that offer different services. They are managed separately based on the fundamental differences in their operations. The site leasing segment includes results of the managed and sublease businesses. The site development segment includes the results of both consulting and construction related activities. | ||||||||||||||||
Commencing in the second quarter of 2014, the Company expanded the presentation of its site leasing business into two reportable segments, domestic site leasing and international site leasing as a result of its international site leasing revenues exceeding 10% of total revenues. All prior periods have been recast to conform to the current year presentation. | ||||||||||||||||
Revenues, cost of revenues (exclusive of depreciation, accretion and amortization), capital expenditures (including assets acquired through the issuance of shares of the Company’s Class A common stock) and identifiable assets pertaining to the segments in which the Company continues to operate are presented below: | ||||||||||||||||
Not | ||||||||||||||||
Domestic Site | Int'l Site | Site | Identified by | |||||||||||||
Leasing | Leasing | Development | Segment (1) | Total | ||||||||||||
(in thousands) | ||||||||||||||||
For the three months ended September 30, 2014 | ||||||||||||||||
Revenues | $ | 293,775 | $ | 55,235 | $ | 44,283 | $ | — | $ | 393,293 | ||||||
Cost of revenues (2) | 63,108 | 14,818 | 33,950 | — | 111,876 | |||||||||||
Operating profit | 230,667 | 40,417 | 10,333 | — | 281,417 | |||||||||||
Selling, general, and administrative | 16,908 | 4,413 | 3,046 | 2,222 | 26,589 | |||||||||||
Asset impairment and decommission costs | 5,536 | 456 | — | — | 5,992 | |||||||||||
Acquisition related adjustments and expenses | 2,242 | -2,300 | — | — | -58 | |||||||||||
Depreciation, amortization and accretion | 129,227 | 28,792 | 660 | 731 | 159,410 | |||||||||||
Operating income (loss) | 76,754 | 9,056 | 6,627 | -2,953 | 89,484 | |||||||||||
Other expense (principally interest expense | ||||||||||||||||
and other expense) | -105,126 | -105,126 | ||||||||||||||
Loss before provision for income taxes | -15,642 | |||||||||||||||
Cash capital expenditures (3) | 113,561 | 17,514 | 2,151 | 7,587 | 140,813 | |||||||||||
For the three months ended September 30, 2013 | ||||||||||||||||
Revenues | $ | 267,540 | $ | 19,943 | $ | 44,611 | $ | — | $ | 332,094 | ||||||
Cost of revenues (2) | 61,259 | 6,783 | 35,253 | — | 103,295 | |||||||||||
Operating profit | 206,281 | 13,160 | 9,358 | — | 228,799 | |||||||||||
Selling, general, and administrative | 15,321 | 2,500 | 1,942 | 2,064 | 21,827 | |||||||||||
Asset impairment and decommission costs | 5,678 | 512 | — | — | 6,190 | |||||||||||
Acquisition related adjustments and expenses | 1,838 | 1,761 | — | — | 3,599 | |||||||||||
Depreciation, amortization and accretion | 121,766 | 10,308 | 731 | 476 | 133,281 | |||||||||||
Operating income (loss) | 61,678 | -1,921 | 6,685 | -2,540 | 63,902 | |||||||||||
Other expense (principally interest expense | ||||||||||||||||
and other expense) | -42,164 | -42,164 | ||||||||||||||
Income before provision for income taxes | 21,738 | |||||||||||||||
Cash capital expenditures (3) | 63,401 | 58,343 | 3,151 | 471 | 125,366 | |||||||||||
For the nine months ended September 30, 2014 | ||||||||||||||||
Revenues | $ | 854,003 | $ | 144,778 | $ | 123,481 | $ | — | $ | 1,122,262 | ||||||
Cost of revenues (2) | 185,637 | 37,412 | 93,432 | — | 316,481 | |||||||||||
Operating profit | 668,366 | 107,366 | 30,049 | — | 805,781 | |||||||||||
Selling, general, and administrative | 49,665 | 12,518 | 7,047 | 7,477 | 76,707 | |||||||||||
Asset impairment and decommission costs | 12,263 | 1,291 | — | — | 13,554 | |||||||||||
Acquisition related adjustments and expenses | 8,878 | 1,850 | — | — | 10,728 | |||||||||||
Depreciation, amortization and accretion | 385,605 | 75,160 | 1,788 | 2,305 | 464,858 | |||||||||||
Operating income (loss) | 211,955 | 16,547 | 21,214 | -9,782 | 239,934 | |||||||||||
Other expense (principally interest expense | ||||||||||||||||
and other expense) | -259,909 | -259,909 | ||||||||||||||
Loss before provision for income taxes | -19,975 | |||||||||||||||
Cash capital expenditures (3) | 451,384 | 712,920 | 5,923 | 11,158 | 1,181,385 | |||||||||||
Not | ||||||||||||||||
Domestic Site | Int'l Site | Site | Identified by | |||||||||||||
Leasing | Leasing | Development | Segment (1) | Total | ||||||||||||
(in thousands) | ||||||||||||||||
For the nine months ended September 30, 2013 | ||||||||||||||||
Revenues | $ | 781,366 | $ | 59,122 | $ | 128,982 | $ | — | $ | 969,470 | ||||||
Cost of revenues (2) | 183,869 | 20,058 | 103,788 | — | 307,715 | |||||||||||
Operating profit (loss) | 597,497 | 39,064 | 25,194 | — | 661,755 | |||||||||||
Selling, general, and administrative | 44,088 | 6,765 | 5,817 | 7,095 | 63,765 | |||||||||||
Asset impairment and decommission costs | 14,860 | 1,545 | — | — | 16,405 | |||||||||||
Acquisition related adjustments and expenses | 2,833 | 8,545 | — | — | 11,378 | |||||||||||
Depreciation, amortization and accretion | 365,798 | 31,026 | 1,762 | 1,420 | 400,006 | |||||||||||
Operating income (loss) | 169,918 | -8,817 | 17,615 | -8,515 | 170,201 | |||||||||||
Other expense (principally interest expense | ||||||||||||||||
and other expense) | -205,507 | -205,507 | ||||||||||||||
Loss before provision for income taxes | -35,306 | |||||||||||||||
Cash capital expenditures (3) | 177,835 | 266,845 | 5,798 | 1,189 | 451,667 | |||||||||||
Assets | ||||||||||||||||
As of September 30, 2014 | $ | 5,559,854 | $ | 1,623,467 | $ | 68,167 | $ | 557,504 | $ | 7,808,992 | ||||||
As of December 31, 2013 | 5,427,969 | 1,040,401 | 76,214 | 238,604 | 6,783,188 | |||||||||||
(1)Assets not identified by segment consist primarily of general corporate assets. | ||||||||||||||||
(2)Excludes depreciation, amortization, and accretion. | ||||||||||||||||
(3)Includes cash paid for capital expenditures and acquisitions and vehicle capital lease additions. | ||||||||||||||||
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Earnings Per Share | ' | ||||||||||||
16.EARNINGS PER SHARE | |||||||||||||
Basic earnings per share was computed by dividing net income from continuing operations attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income from continuing operations attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding and any dilutive Common Stock equivalents, including unvested restricted stock and shares issuable upon exercise of stock options as determined under the “If-Converted” method and also Common Stock warrants as determined under the “Treasury Stock” method. | |||||||||||||
The following table sets forth basic and diluted income from continuing operations per common share for the three and nine months ended September 30, 2014 and 2013 (in thousands, except per share data): | |||||||||||||
For the three months | For the nine months | ||||||||||||
ended September 30, | ended September 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Numerator: | |||||||||||||
Net (loss) income | $ | -16,624 | $ | 21,531 | $ | -24,685 | $ | -36,747 | |||||
Denominator: | |||||||||||||
Basic weighted-average shares outstanding | 129,046 | 127,885 | 128,854 | 127,555 | |||||||||
Dilutive impact of stock options and restricted shares | — | 1,195 | — | — | |||||||||
Dilutive impact of common stock warrants | — | 7,832 | — | — | |||||||||
Diluted weighted-average shares outstanding | 129,046 | 136,912 | 128,854 | 127,555 | |||||||||
Earnings (loss) per share attributable to continuing operations: | |||||||||||||
Basic | $ | -0.13 | $ | 0.17 | $ | -0.19 | $ | -0.29 | |||||
Diluted | $ | -0.13 | $ | 0.16 | $ | -0.19 | $ | -0.29 | |||||
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Fair Value Measurements [Abstract] | ' | ||||||||||||||||||
Summary Of Accrued Earnout Activity | ' | ||||||||||||||||||
2014 | 2013 | ||||||||||||||||||
(in thousands) | |||||||||||||||||||
Beginning balance, December 31, 2013 and 2012, respectively | $ | 30,063 | $ | 9,840 | |||||||||||||||
Additions | 10,384 | 19,342 | |||||||||||||||||
Payments | -16,346 | -1,310 | |||||||||||||||||
Expirations | -573 | -1,863 | |||||||||||||||||
Change in estimate | -946 | -105 | |||||||||||||||||
Foreign currency translation adjustments | 554 | 61 | |||||||||||||||||
Ending balance, September 30, | $ | 23,136 | $ | 25,965 | |||||||||||||||
Summary Of Fair Values, Principal Balances, And Carrying Values Of Company's Debt Instruments | ' | ||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||
Fair Value | Principal Balance | Carrying Value | Fair Value | Principal Balance | Carrying Value | ||||||||||||||
(in thousands) | |||||||||||||||||||
4.000% Convertible Senior Notes due 2014 | $ | 1,325,115 | $ | 367,068 | $ | 367,068 | $ | 1,479,859 | $ | 499,944 | $ | 468,394 | |||||||
8.250% Senior Notes due 2019 | — | — | — | 262,031 | 243,750 | 242,387 | |||||||||||||
5.625% Senior Notes due 2019 | 507,500 | 500,000 | 500,000 | 514,375 | 500,000 | 500,000 | |||||||||||||
5.750% Senior Notes due 2020 | 814,000 | 800,000 | 800,000 | 832,000 | 800,000 | 800,000 | |||||||||||||
4.875% Senior Notes due 2022 | 729,375 | 750,000 | 743,992 | — | — | — | |||||||||||||
4.254% 2010-1 Tower Securities | 680,503 | 680,000 | 680,000 | 689,717 | 680,000 | 680,000 | |||||||||||||
5.101% 2010-2 Tower Securities | 573,392 | 550,000 | 550,000 | 586,586 | 550,000 | 550,000 | |||||||||||||
2.933% 2012-1Tower Securities | 616,747 | 610,000 | 610,000 | 604,736 | 610,000 | 610,000 | |||||||||||||
2.240% 2013-1C Tower Securities | 419,598 | 425,000 | 425,000 | 408,442 | 425,000 | 425,000 | |||||||||||||
3.722% 2013-2C Tower Securities | 570,751 | 575,000 | 575,000 | 530,098 | 575,000 | 575,000 | |||||||||||||
3.598% 2013-1D Tower Securities | 330,759 | 330,000 | 330,000 | 318,856 | 330,000 | 330,000 | |||||||||||||
Revolving Credit Facility | 300,000 | 300,000 | 300,000 | 215,000 | 215,000 | 215,000 | |||||||||||||
2011 Term Loan | — | — | — | 180,980 | 180,529 | 180,234 | |||||||||||||
2012-1 Term Loan | 175,809 | 176,250 | 176,250 | 184,538 | 185,000 | 185,000 | |||||||||||||
2012-2 Term Loan | — | — | — | 110,383 | 109,971 | 109,745 | |||||||||||||
2014 Term Loan | 1,458,844 | 1,496,250 | 1,492,778 | — | — | — | |||||||||||||
BNDES Loans | — | — | — | 5,847 | 5,847 | 5,847 | |||||||||||||
Totals | $ | 8,502,393 | $ | 7,559,568 | $ | 7,550,088 | $ | 6,923,448 | $ | 5,910,041 | $ | 5,876,607 | |||||||
Restricted_Cash_Tables
Restricted Cash (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Restricted Cash [Abstract] | ' | ||||||||
Schedule Of Restricted Cash | ' | ||||||||
As of | As of | ||||||||
30-Sep-14 | 31-Dec-13 | Included on Balance Sheet | |||||||
(in thousands) | |||||||||
Securitization escrow accounts | $ | 45,871 | $ | 46,364 | Restricted cash - current asset | ||||
Payment and performance bonds | 400 | 941 | Restricted cash - current asset | ||||||
Surety bonds and workers compensation | 5,934 | 8,991 | Other assets - noncurrent | ||||||
Total restricted cash | $ | 52,205 | $ | 56,296 | |||||
Other_Assets_Tables
Other Assets (Tables) | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Other Assets [Abstract] | ' | ||||||
Schedule Of Other Assets | ' | ||||||
As of | As of | ||||||
30-Sep-14 | 31-Dec-13 | ||||||
(in thousands) | |||||||
Restricted cash | $ | 5,934 | $ | 8,991 | |||
Long-term investments | 52,716 | 52,801 | |||||
Prepaid land rent | 129,319 | 119,047 | |||||
Straight-line rent receivable | 218,435 | 179,292 | |||||
Other | 50,717 | 40,721 | |||||
Total other assets | $ | 457,121 | $ | 400,852 | |||
Acquisitions_Tables
Acquisitions (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Acquisitions [Abstract] | ' | ||||||||||||
Schedule Of Acquisition Capital Expenditures | ' | ||||||||||||
For the three months | For the nine months | ||||||||||||
ended September 30, | ended September 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
(in thousands) | |||||||||||||
Towers and related intangible assets | $ | 71,688 | $ | 80,326 | $ | 1,019,733 | $ | 311,191 | |||||
Ground lease buyouts (1) | 9,586 | 11,320 | 29,015 | 35,864 | |||||||||
Total cash acquisition capital expenditures | $ | 81,274 | $ | 91,646 | $ | 1,048,748 | $ | 347,055 | |||||
-1 | In addition, the Company paid $2.7 million and $2.8 million for ground lease extensions and term easements during the three months ended September 30, 2014 and 2013, respectively, and $7.8 million and $7.6 million for ground lease extensions during the nine months ended September 30, 2014 and 2013, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets. | ||||||||||||
Intangible_Assets_Net_Tables
Intangible Assets, Net (Tables) | 9 Months Ended | ||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||
Intangible Assets, Net [Abstract] | ' | ||||||||||||||||||
Gross And Net Carrying Amounts For Each Major Class Of Intangible Assets | ' | ||||||||||||||||||
As of September 30, 2014 | As of December 31, 2013 | ||||||||||||||||||
Gross carrying | Accumulated | Net book | Gross carrying | Accumulated | Net book | ||||||||||||||
amount | amortization | value | amount | amortization | value | ||||||||||||||
(in thousands) | |||||||||||||||||||
Current contract intangibles | $ | 3,800,298 | $ | -830,888 | $ | 2,969,410 | $ | 3,154,616 | $ | -649,861 | $ | 2,504,755 | |||||||
Network location intangibles | 1,331,398 | -390,053 | 941,345 | 1,209,142 | -326,699 | 882,443 | |||||||||||||
Intangible assets, net | $ | 5,131,696 | $ | -1,220,941 | $ | 3,910,755 | $ | 4,363,758 | $ | -976,560 | $ | 3,387,198 | |||||||
Property_And_Equipment_Net_Tab
Property And Equipment, Net (Tables) | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Property And Equipment, Net [Abstract] | ' | ||||||
Property And Equipment, Net (Including Assets Held Under Capital Leases) | ' | ||||||
As of | As of | ||||||
30-Sep-14 | 31-Dec-13 | ||||||
(in thousands) | |||||||
Towers and related components | $ | 4,070,524 | $ | 3,821,482 | |||
Construction-in-process | 37,867 | 24,275 | |||||
Furniture, equipment, and vehicles | 50,686 | 40,274 | |||||
Land, buildings, and improvements | 405,212 | 364,830 | |||||
4,564,289 | 4,250,861 | ||||||
Less: accumulated depreciation | -1,876,462 | -1,672,417 | |||||
Property and equipment, net | $ | 2,687,827 | $ | 2,578,444 | |||
Costs_And_Estimated_Earnings_O1
Costs And Estimated Earnings On Uncompleted Contracts (Tables) | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Costs And Estimated Earnings On Uncompleted Contracts [Abstract] | ' | ||||||
Summary Of Costs And Estimated Earnings On Uncompleted Contracts | ' | ||||||
As of | As of | ||||||
30-Sep-14 | 31-Dec-13 | ||||||
(in thousands) | |||||||
Costs incurred on uncompleted contracts | $ | 121,782 | $ | 94,145 | |||
Estimated earnings | 53,720 | 32,547 | |||||
Billings to date | -153,216 | -108,070 | |||||
$ | 22,286 | $ | 18,622 | ||||
Costs And Estimated Earnings On Uncompleted Contracts Accompanying Consolidated Balance Sheets | ' | ||||||
As of | As of | ||||||
30-Sep-14 | 31-Dec-13 | ||||||
(in thousands) | |||||||
Costs and estimated earnings in excess of | |||||||
billings on uncompleted contracts | $ | 29,105 | $ | 27,864 | |||
Other current liabilities (Billings in excess of costs and | |||||||
estimated earnings on uncompleted contracts) | -6,819 | -9,242 | |||||
$ | 22,286 | $ | 18,622 | ||||
Concentration_Of_Credit_Risk_T
Concentration Of Credit Risk (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2014 | |||||||||
Concentration Of Credit Risk [Abstract] | ' | ||||||||
Summary Of Significant Customers And Percentage Of Total Revenue For Specified Time Periods Derived From Such Customers | ' | ||||||||
For the three months | For the nine months | ||||||||
ended September 30, | ended September 30, | ||||||||
2014 | 2013 | 2014 | 2013 | ||||||
Percentage of Domestic Site Leasing Revenue | |||||||||
AT&T Wireless (1) | 31.10% | 27.20% | 29.70% | 25.80% | |||||
Sprint (2) | 25.10% | 30.80% | 26.20% | 30.40% | |||||
T-Mobile (3) | 19.10% | 18.10% | 19.40% | 17.90% | |||||
Verizon Wireless | 14.20% | 13.70% | 14.00% | 13.10% | |||||
For the three months | For the nine months | ||||||||
ended September 30, | ended September 30, | ||||||||
2014 | 2013 | 2014 | 2013 | ||||||
Percentage of International Site Leasing Revenue | |||||||||
Oi | 46.20% | 1.30% | 43.10% | 1.20% | |||||
Telefonica | 27.20% | 49.30% | 30.20% | 52.00% | |||||
Digicel | 4.50% | 11.80% | 5.00% | 12.00% | |||||
For the three months | For the nine months | ||||||||
ended September 30, | ended September 30, | ||||||||
2014 | 2013 | 2014 | 2013 | ||||||
Percentage of Site Development Revenue | |||||||||
Sprint (2) | 46.10% | 1.80% | 32.20% | 0.90% | |||||
Ericsson, Inc. | 16.10% | 32.20% | 17.20% | 38.10% | |||||
Verizon Wireless | 10.00% | 4.90% | 9.80% | 4.30% | |||||
T-Mobile (3) | 7.40% | 10.50% | 8.90% | 7.90% | |||||
Alcatel-Lucent | 0.70% | 8.10% | 2.50% | 10.10% | |||||
(1)Prior year amounts have been adjusted to reflect the merger of AT&T Wireless and Cricket. | |||||||||
(2)Prior year amounts have been adjusted to reflect the merger of Sprint and Clearwire. | |||||||||
(3)Prior year amounts have been adjusted to reflect the merger of T-Mobile and Metro PCS. | |||||||||
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 9 Months Ended | ||||||
Sep. 30, 2014 | |||||||
Accrued Expenses [Abstract] | ' | ||||||
Schedule Of Accrued Expenses | ' | ||||||
As of | As of | ||||||
30-Sep-14 | 31-Dec-13 | ||||||
(in thousands) | |||||||
Accrued earnouts | $ | 23,136 | $ | 30,063 | |||
Salaries and benefits | 12,340 | 11,351 | |||||
Real estate and property taxes | 9,224 | 9,814 | |||||
Other | 33,943 | 34,903 | |||||
$ | 78,643 | $ | 86,131 | ||||
Debt_Tables
Debt (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2014 | |||||||||||||||||||||||||
Debt [Abstract] | ' | ||||||||||||||||||||||||
Carrying And Principal Values Of Debt | ' | ||||||||||||||||||||||||
Maturity | As of | As of | |||||||||||||||||||||||
Date | 30-Sep-14 | 31-Dec-13 | |||||||||||||||||||||||
Principal Balance | Carrying Value | Principal Balance | Carrying Value | ||||||||||||||||||||||
4.000% Convertible Senior Notes | Oct. 1, 2014 | $ | 367,068 | $ | 367,068 | $ | 499,944 | $ | 468,394 | ||||||||||||||||
8.250% Senior Notes | Aug. 15, 2019 | — | — | 243,750 | 242,387 | ||||||||||||||||||||
5.625% Senior Notes | Oct. 1, 2019 | 500,000 | 500,000 | 500,000 | 500,000 | ||||||||||||||||||||
5.750% Senior Notes | 15-Jul-20 | 800,000 | 800,000 | 800,000 | 800,000 | ||||||||||||||||||||
4.875% Senior Notes | 15-Jul-22 | 750,000 | 743,992 | — | — | ||||||||||||||||||||
4.254% 2010-1 Tower Securities | 15-Apr-15 | 680,000 | 680,000 | 680,000 | 680,000 | ||||||||||||||||||||
5.101% 2010-2 Tower Securities | 17-Apr-17 | 550,000 | 550,000 | 550,000 | 550,000 | ||||||||||||||||||||
2.933% 2012-1 Tower Securities | Dec. 15, 2017 | 610,000 | 610,000 | 610,000 | 610,000 | ||||||||||||||||||||
2.240% 2013-1C Tower Securities | 16-Apr-18 | 425,000 | 425,000 | 425,000 | 425,000 | ||||||||||||||||||||
3.722% 2013-2C Tower Securities | 17-Apr-23 | 575,000 | 575,000 | 575,000 | 575,000 | ||||||||||||||||||||
3.598% 2013-1D Tower Securities | 16-Apr-18 | 330,000 | 330,000 | 330,000 | 330,000 | ||||||||||||||||||||
Revolving Credit Facility | 9-May-17 | 300,000 | 300,000 | 215,000 | 215,000 | ||||||||||||||||||||
2011 Term Loan | 30-Jun-18 | — | — | 180,529 | 180,234 | ||||||||||||||||||||
2012-1 Term Loan | 9-May-17 | 176,250 | 176,250 | 185,000 | 185,000 | ||||||||||||||||||||
2012-2 Term Loan | Sept. 28, 2019 | — | — | 109,971 | 109,745 | ||||||||||||||||||||
2014 Term Loan | Mar. 24, 2021 | 1,496,250 | 1,492,778 | — | — | ||||||||||||||||||||
BNDES Loans | various | — | — | 5,847 | 5,847 | ||||||||||||||||||||
Total debt | $ | 7,559,568 | $ | 7,550,088 | $ | 5,910,041 | $ | 5,876,607 | |||||||||||||||||
Less: current maturities of long-term debt | -1,078,318 | -481,886 | |||||||||||||||||||||||
Total long-term debt, net of current maturities | $ | 6,471,770 | $ | 5,394,721 | |||||||||||||||||||||
Schedule Of Cash And Non-Cash Interest Expense | ' | ||||||||||||||||||||||||
For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||||||||||||||
Cash | Non-cash | Cash | Non-cash | Cash | Non-cash | Cash | Non-cash | ||||||||||||||||||
Interest | Interest | Interest | Interest | Interest | Interest | Interest | Interest | ||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
1.875% Convertible Senior Notes | $ | — | $ | — | $ | — | $ | — | $ | — | $ | — | $ | 2,670 | $ | 10,434 | |||||||||
4.0% Convertible Senior Notes | 3,675 | 7,934 | 4,999 | 9,570 | 12,520 | 26,266 | 14,999 | 28,446 | |||||||||||||||||
8.25% Senior Notes | 2,458 | 24 | 5,027 | 46 | 12,513 | 121 | 15,082 | 135 | |||||||||||||||||
5.625% Senior Notes | 7,031 | — | 7,031 | — | 21,094 | — | 21,094 | — | |||||||||||||||||
5.75% Senior Notes | 11,500 | — | 11,500 | — | 34,500 | — | 34,500 | — | |||||||||||||||||
4.875% Senior Notes | 9,141 | 157 | — | — | 9,141 | 157 | — | — | |||||||||||||||||
2010 Secured Tower Rev Securities | 14,346 | — | 14,349 | — | 43,036 | — | 43,037 | — | |||||||||||||||||
2012 Secured Tower Rev Securities | 4,521 | — | 4,521 | — | 13,564 | — | 13,564 | — | |||||||||||||||||
2013 Secured Tower Rev Securities | 10,804 | — | 10,804 | — | 32,413 | — | 19,588 | — | |||||||||||||||||
Revolving Credit Facility | 1,007 | — | 856 | — | 3,279 | — | 3,338 | — | |||||||||||||||||
2011 Term Loan | — | — | 1,730 | 16 | 696 | 7 | 8,802 | 85 | |||||||||||||||||
2012-1 Term Loan | 1,222 | — | 1,123 | — | 3,336 | — | 3,516 | — | |||||||||||||||||
2012-2 Term Loan | — | — | 1,054 | 10 | 424 | 4 | 5,362 | 51 | |||||||||||||||||
2014 Term Loan | 12,458 | 121 | — | — | 28,911 | 277 | — | — | |||||||||||||||||
Other | 7 | — | -7 | — | 268 | — | 17 | — | |||||||||||||||||
Total | $ | 78,170 | $ | 8,236 | $ | 62,987 | $ | 9,642 | $ | 215,695 | $ | 26,832 | $ | 185,569 | $ | 39,151 | |||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||
Sep. 30, 2014 | |||||||||||
Stock-Based Compensation [Abstract] | ' | ||||||||||
Schedule Of Assumptions Used To Estimate Fair Value Of Stock Options | ' | ||||||||||
For the nine months ended | |||||||||||
September 30, | |||||||||||
2014 | 2013 | ||||||||||
Risk free interest rate | 1.15% - 1.37% | 0.51% - 1.38% | |||||||||
Dividend yield | 0.00% | 0.00% | |||||||||
Expected volatility | 22.00% | 25.0% - 29.0% | |||||||||
Expected lives | 4.4 years | 3.9 - 4.8 years | |||||||||
Company's Activities With Respect To Its Stock Options | ' | ||||||||||
Weighted- | |||||||||||
Weighted- | Average | ||||||||||
Average | Remaining | ||||||||||
Number | Exercise Price | Contractual | Aggregate | ||||||||
of Shares | Per Share | Life (in years) | Intrinsic Value | ||||||||
Outstanding at December 31, 2013 | 2,979 | $ | 48.30 | ||||||||
Granted | 1,121 | $ | 95.51 | ||||||||
Exercised | -743 | $ | 36.20 | ||||||||
Canceled | -29 | $ | 77.89 | ||||||||
Outstanding at September 30, 2014 | 3,328 | $ | 66.64 | 4.9 | $ | 147,296 | |||||
Exercisable at September 30, 2014 | 1,082 | $ | 41.08 | 3.2 | $ | 75,516 | |||||
Unvested at September 30, 2014 | 2,246 | $ | 78.95 | 5.7 | $ | 71,780 | |||||
Company's Restricted Stock Unit Activity | ' | ||||||||||
Weighted- | |||||||||||
Average | |||||||||||
Grant Date | |||||||||||
Number of | Fair Value per | ||||||||||
Units | Share | ||||||||||
(in thousands) | |||||||||||
Outstanding at December 31, 2013 | 305 | $ | 55.60 | ||||||||
Granted | 118 | $ | 95.55 | ||||||||
Vested | -121 | $ | 50.14 | ||||||||
Forfeited/canceled | -3 | $ | 74.31 | ||||||||
Outstanding at September 30, 2014 | 299 | $ | 73.42 | ||||||||
Segment_Data_Tables
Segment Data (Tables) | 9 Months Ended | |||||||||||||||
Sep. 30, 2014 | ||||||||||||||||
Segment Data [Abstract] | ' | |||||||||||||||
Segment Reporting Information Disclosure | ' | |||||||||||||||
Not | ||||||||||||||||
Domestic Site | Int'l Site | Site | Identified by | |||||||||||||
Leasing | Leasing | Development | Segment (1) | Total | ||||||||||||
(in thousands) | ||||||||||||||||
For the three months ended September 30, 2014 | ||||||||||||||||
Revenues | $ | 293,775 | $ | 55,235 | $ | 44,283 | $ | — | $ | 393,293 | ||||||
Cost of revenues (2) | 63,108 | 14,818 | 33,950 | — | 111,876 | |||||||||||
Operating profit | 230,667 | 40,417 | 10,333 | — | 281,417 | |||||||||||
Selling, general, and administrative | 16,908 | 4,413 | 3,046 | 2,222 | 26,589 | |||||||||||
Asset impairment and decommission costs | 5,536 | 456 | — | — | 5,992 | |||||||||||
Acquisition related adjustments and expenses | 2,242 | -2,300 | — | — | -58 | |||||||||||
Depreciation, amortization and accretion | 129,227 | 28,792 | 660 | 731 | 159,410 | |||||||||||
Operating income (loss) | 76,754 | 9,056 | 6,627 | -2,953 | 89,484 | |||||||||||
Other expense (principally interest expense | ||||||||||||||||
and other expense) | -105,126 | -105,126 | ||||||||||||||
Loss before provision for income taxes | -15,642 | |||||||||||||||
Cash capital expenditures (3) | 113,561 | 17,514 | 2,151 | 7,587 | 140,813 | |||||||||||
For the three months ended September 30, 2013 | ||||||||||||||||
Revenues | $ | 267,540 | $ | 19,943 | $ | 44,611 | $ | — | $ | 332,094 | ||||||
Cost of revenues (2) | 61,259 | 6,783 | 35,253 | — | 103,295 | |||||||||||
Operating profit | 206,281 | 13,160 | 9,358 | — | 228,799 | |||||||||||
Selling, general, and administrative | 15,321 | 2,500 | 1,942 | 2,064 | 21,827 | |||||||||||
Asset impairment and decommission costs | 5,678 | 512 | — | — | 6,190 | |||||||||||
Acquisition related adjustments and expenses | 1,838 | 1,761 | — | — | 3,599 | |||||||||||
Depreciation, amortization and accretion | 121,766 | 10,308 | 731 | 476 | 133,281 | |||||||||||
Operating income (loss) | 61,678 | -1,921 | 6,685 | -2,540 | 63,902 | |||||||||||
Other expense (principally interest expense | ||||||||||||||||
and other expense) | -42,164 | -42,164 | ||||||||||||||
Income before provision for income taxes | 21,738 | |||||||||||||||
Cash capital expenditures (3) | 63,401 | 58,343 | 3,151 | 471 | 125,366 | |||||||||||
For the nine months ended September 30, 2014 | ||||||||||||||||
Revenues | $ | 854,003 | $ | 144,778 | $ | 123,481 | $ | — | $ | 1,122,262 | ||||||
Cost of revenues (2) | 185,637 | 37,412 | 93,432 | — | 316,481 | |||||||||||
Operating profit | 668,366 | 107,366 | 30,049 | — | 805,781 | |||||||||||
Selling, general, and administrative | 49,665 | 12,518 | 7,047 | 7,477 | 76,707 | |||||||||||
Asset impairment and decommission costs | 12,263 | 1,291 | — | — | 13,554 | |||||||||||
Acquisition related adjustments and expenses | 8,878 | 1,850 | — | — | 10,728 | |||||||||||
Depreciation, amortization and accretion | 385,605 | 75,160 | 1,788 | 2,305 | 464,858 | |||||||||||
Operating income (loss) | 211,955 | 16,547 | 21,214 | -9,782 | 239,934 | |||||||||||
Other expense (principally interest expense | ||||||||||||||||
and other expense) | -259,909 | -259,909 | ||||||||||||||
Loss before provision for income taxes | -19,975 | |||||||||||||||
Cash capital expenditures (3) | 451,384 | 712,920 | 5,923 | 11,158 | 1,181,385 | |||||||||||
Not | ||||||||||||||||
Domestic Site | Int'l Site | Site | Identified by | |||||||||||||
Leasing | Leasing | Development | Segment (1) | Total | ||||||||||||
(in thousands) | ||||||||||||||||
For the nine months ended September 30, 2013 | ||||||||||||||||
Revenues | $ | 781,366 | $ | 59,122 | $ | 128,982 | $ | — | $ | 969,470 | ||||||
Cost of revenues (2) | 183,869 | 20,058 | 103,788 | — | 307,715 | |||||||||||
Operating profit (loss) | 597,497 | 39,064 | 25,194 | — | 661,755 | |||||||||||
Selling, general, and administrative | 44,088 | 6,765 | 5,817 | 7,095 | 63,765 | |||||||||||
Asset impairment and decommission costs | 14,860 | 1,545 | — | — | 16,405 | |||||||||||
Acquisition related adjustments and expenses | 2,833 | 8,545 | — | — | 11,378 | |||||||||||
Depreciation, amortization and accretion | 365,798 | 31,026 | 1,762 | 1,420 | 400,006 | |||||||||||
Operating income (loss) | 169,918 | -8,817 | 17,615 | -8,515 | 170,201 | |||||||||||
Other expense (principally interest expense | ||||||||||||||||
and other expense) | -205,507 | -205,507 | ||||||||||||||
Loss before provision for income taxes | -35,306 | |||||||||||||||
Cash capital expenditures (3) | 177,835 | 266,845 | 5,798 | 1,189 | 451,667 | |||||||||||
Assets | ||||||||||||||||
As of September 30, 2014 | $ | 5,559,854 | $ | 1,623,467 | $ | 68,167 | $ | 557,504 | $ | 7,808,992 | ||||||
As of December 31, 2013 | 5,427,969 | 1,040,401 | 76,214 | 238,604 | 6,783,188 | |||||||||||
(1)Assets not identified by segment consist primarily of general corporate assets. | ||||||||||||||||
(2)Excludes depreciation, amortization, and accretion. | ||||||||||||||||
(3)Includes cash paid for capital expenditures and acquisitions and vehicle capital lease additions. | ||||||||||||||||
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2014 | |||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||
Weighted-Average Shares of Common Stock Outstanding Used in Calculation of Basic and Diluted Earnings Per Share | ' | ||||||||||||
For the three months | For the nine months | ||||||||||||
ended September 30, | ended September 30, | ||||||||||||
2014 | 2013 | 2014 | 2013 | ||||||||||
Numerator: | |||||||||||||
Net (loss) income | $ | -16,624 | $ | 21,531 | $ | -24,685 | $ | -36,747 | |||||
Denominator: | |||||||||||||
Basic weighted-average shares outstanding | 129,046 | 127,885 | 128,854 | 127,555 | |||||||||
Dilutive impact of stock options and restricted shares | — | 1,195 | — | — | |||||||||
Dilutive impact of common stock warrants | — | 7,832 | — | — | |||||||||
Diluted weighted-average shares outstanding | 129,046 | 136,912 | 128,854 | 127,555 | |||||||||
Earnings (loss) per share attributable to continuing operations: | |||||||||||||
Basic | $ | -0.13 | $ | 0.17 | $ | -0.19 | $ | -0.29 | |||||
Diluted | $ | -0.13 | $ | 0.16 | $ | -0.19 | $ | -0.29 | |||||
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | |
Accrued earnouts | $23,136,000 | $25,965,000 | $23,136,000 | $25,965,000 | $30,063,000 | $9,840,000 |
Performance targets, maximum potential obligation | 35,700,000 | ' | 35,700,000 | ' | ' | ' |
Impairment charge recognized, related to long-lived assets | 6,000,000 | 6,200,000 | 13,600,000 | 16,400,000 | ' | ' |
Write-offs relating to long-lived assets and intangibles | 5,200,000 | 4,900,000 | 10,800,000 | 12,300,000 | ' | ' |
Certificate of deposits | 5,300,000 | ' | 5,300,000 | ' | 5,200,000 | ' |
Held-to-maturity investments, carrying value | 1,200,000 | ' | 1,200,000 | ' | 1,100,000 | ' |
Held-to-maturity investments, fair value | $1,300,000 | ' | $1,300,000 | ' | $1,300,000 | ' |
Minimum [Member] | ' | ' | ' | ' | ' | ' |
Basis spread on variable interest rate | ' | ' | 1.88% | ' | ' | ' |
Maximum [Member] | ' | ' | ' | ' | ' | ' |
Basis spread on variable interest rate | ' | ' | 2.38% | ' | ' | ' |
Fair_Value_Measurements_Summar
Fair Value Measurements (Summary Of Accrued Earnout Activity) (Details) (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Fair Value Measurements [Abstract] | ' | ' |
Beginning balance, December 31, | $30,063 | $9,840 |
Additions | 10,384 | 19,342 |
Payments | -16,346 | -1,310 |
Expirations | -573 | -1,863 |
Change in estimate | -946 | -105 |
Foreign currency translation adjustments | 554 | 61 |
Ending balance, September 30, | $23,136 | $25,965 |
Fair_Value_Measurements_Summar1
Fair Value Measurements (Summary Of Fair Values, Principal Balances, And Carrying Values Of Company's Debt Instruments) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Apr. 29, 2009 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Jul. 24, 2009 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 28, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Jul. 13, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Jul. 01, 2014 | Sep. 30, 2014 | Jul. 01, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Apr. 16, 2010 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 16, 2010 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Aug. 09, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 18, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 18, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 18, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Feb. 07, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | 1.875% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | 2011 Term Loan [Member] | 2011 Term Loan [Member] | 2011 Term Loan [Member] | 2011 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-2 Term Loan [Member] | 2012-2 Term Loan [Member] | 2012-2 Term Loan [Member] | 2012-2 Term Loan [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | BNDES Loans [Member] | BNDES Loans [Member] | BNDES Loans [Member] |
Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | Fair Value [Member] | Principal Balance [Member] | Carrying Value [Member] | Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | Fair Value [Member] | Principal Balance [Member] | Carrying Value [Member] | Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | Fair Value [Member] | Principal Balance [Member] | Carrying Value [Member] | Fair Value [Member] | Fair Value [Member] | Principal Balance [Member] | Principal Balance [Member] | Carrying Value [Member] | Carrying Value [Member] | Fair Value [Member] | Principal Balance [Member] | Carrying Value [Member] | Fair Value [Member] | Principal Balance [Member] | Carrying Value [Member] | Fair Value [Member] | Principal Balance [Member] | Carrying Value [Member] | |||||||||||||||||||||||||||||||||||||
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, Fair Value | $8,502,393 | $6,923,448 | $7,559,568 | $5,910,041 | $7,550,088 | $5,876,607 | ' | ' | ' | $1,325,115 | $1,479,859 | $367,068 | $499,944 | $367,068 | $468,394 | ' | ' | $262,031 | $243,750 | $242,387 | ' | ' | $507,500 | $514,375 | $500,000 | $500,000 | $500,000 | $500,000 | ' | ' | $814,000 | $832,000 | $800,000 | $800,000 | $800,000 | $800,000 | ' | ' | ' | $729,375 | $750,000 | $743,992 | ' | ' | $680,503 | $689,717 | $680,000 | $680,000 | $680,000 | $680,000 | ' | ' | $573,392 | $586,586 | $550,000 | $550,000 | $550,000 | $550,000 | ' | ' | $616,747 | $604,736 | $610,000 | $610,000 | $610,000 | $610,000 | ' | ' | $419,598 | $408,442 | $425,000 | $425,000 | $425,000 | $425,000 | ' | ' | $570,751 | $530,098 | $575,000 | $575,000 | $575,000 | $575,000 | ' | ' | $330,759 | $318,856 | $330,000 | $330,000 | $330,000 | $330,000 | ' | $300,000 | $215,000 | $300,000 | $215,000 | $300,000 | $215,000 | ' | $180,980 | $180,529 | $180,234 | ' | $175,809 | $184,538 | $176,250 | $185,000 | $176,250 | $185,000 | ' | $110,383 | $109,971 | $109,745 | ' | ' | $1,458,844 | $1,496,250 | $1,492,778 | $5,847 | $5,847 | $5,847 |
Debt instrument stated percentage | ' | ' | ' | ' | ' | ' | 1.88% | 4.00% | 4.00% | ' | ' | ' | ' | ' | ' | 8.25% | 8.25% | ' | ' | ' | 5.63% | 5.63% | ' | ' | ' | ' | ' | ' | 5.75% | 5.75% | ' | ' | ' | ' | ' | ' | ' | 4.88% | 4.88% | ' | ' | ' | 4.25% | 4.25% | ' | ' | ' | ' | ' | ' | 5.10% | 5.10% | ' | ' | ' | ' | ' | ' | 2.93% | 2.93% | ' | ' | ' | ' | ' | ' | 2.24% | 2.24% | ' | ' | ' | ' | ' | ' | 3.72% | 3.72% | ' | ' | ' | ' | ' | ' | 3.60% | 3.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt Instrument Maturity Date | ' | ' | ' | ' | ' | ' | ' | 1-Oct-14 | 1-Oct-14 | ' | ' | ' | ' | ' | ' | 15-Aug-19 | 15-Aug-19 | ' | ' | ' | 1-Oct-19 | 1-Oct-19 | ' | ' | ' | ' | ' | ' | 15-Jul-20 | 15-Jul-20 | ' | ' | ' | ' | ' | ' | 15-Jul-22 | 15-Jul-22 | ' | ' | ' | ' | 16-Apr-40 | 15-Apr-15 | ' | ' | ' | ' | ' | ' | 15-Apr-42 | 17-Apr-17 | ' | ' | ' | ' | ' | ' | 15-Dec-42 | 15-Dec-17 | ' | ' | ' | ' | ' | ' | 15-Apr-43 | 16-Apr-18 | ' | ' | ' | ' | ' | ' | 15-Apr-48 | 17-Apr-23 | ' | ' | ' | ' | ' | ' | 15-Apr-43 | 16-Apr-18 | ' | ' | ' | ' | ' | ' | 9-May-17 | ' | ' | ' | ' | ' | ' | 30-Jun-18 | ' | ' | ' | 9-May-17 | ' | ' | ' | ' | ' | ' | 28-Sep-19 | ' | ' | ' | 24-Mar-21 | 24-Mar-21 | ' | ' | ' | ' | ' | ' |
Restricted_Cash_Narrative_Deta
Restricted Cash (Narrative) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Restricted Cash [Abstract] | ' | ' |
Surety, payment and performance bonds | $40 | $42 |
Collateral payment for performance bonds | 2.7 | 6.1 |
Collateral related to workers compensation policy | $2.60 | $2.30 |
Restricted_Cash_Schedule_Of_Re
Restricted Cash (Schedule Of Restricted Cash) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Total restricted cash | $52,205 | $56,296 |
Restricted Cash - Current Asset [Member] | Securitization Escrow Accounts [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Total restricted cash | 45,871 | 46,364 |
Restricted Cash - Current Asset [Member] | Payment and Performance Bonds [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Total restricted cash | 400 | 941 |
Other Assets - Noncurrent [Member] | Surety Bonds and Workers Compensation [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Total restricted cash | $5,934 | $8,991 |
Other_Assets_Schedule_Of_Other
Other Assets (Schedule Of Other Assets) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Other Assets [Abstract] | ' | ' |
Restricted cash | $5,934 | $8,991 |
Long-term investments | 52,716 | 52,801 |
Prepaid land rent | 129,319 | 119,047 |
Straight-line rent receivable | 218,435 | 179,292 |
Other | 50,717 | 40,721 |
Total other assets | $457,121 | $400,852 |
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) | 9 Months Ended | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2014 | Sep. 29, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
USD ($) | BRL | Other Acquisitions [Member] | Subsequent Event [Member] | |
item | USD ($) | |||
item | ||||
Business Acquisition [Line Items] | ' | ' | ' | ' |
Number of towers acquired | ' | ' | 94 | 52 |
Number of towers, acquired right to use | ' | ' | 4 | ' |
Cash paid for acquisition | ' | ' | ' | $40,600,000 |
Foreign currency forward contracts | ' | 1,170,000,000 | ' | ' |
Foreign currency floor price | ' | 2.4 | ' | ' |
Foreign currency ceiling price | ' | 2.5665 | ' | ' |
Gain (loss) on derivative | $0 | ' | ' | ' |
Acquisitions_Schedule_Of_Acqui
Acquisitions (Schedule Of Acquisition Capital Expenditures) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |||||
Acquisitions [Abstract] | ' | ' | ' | ' | ||||
Towers and related intangible assets | $71,688,000 | $80,326,000 | $1,019,733,000 | $311,191,000 | ||||
Ground lease land purchases | 9,586,000 | [1] | 11,320,000 | [1] | 29,015,000 | [1] | 35,864,000 | [1] |
Total cash acquisition capital expenditures | 81,274,000 | 91,646,000 | 1,048,748,000 | 347,055,000 | ||||
Ground lease extensions | $2,700,000 | $2,800,000 | $7,800,000 | $7,600,000 | ||||
[1] | In addition, the Company paid $2.7 million and $2.8 million for ground lease extensions and term easements during the three months ended September 30, 2014 and 2013, respectively, and $7.8 million and $7.6 million for ground lease extensions during the nine months ended September 30, 2014 and 2013, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets. |
Intangible_Assets_Net_Narrativ
Intangible Assets, Net (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Intangible Assets, Net [Abstract] | ' | ' | ' | ' |
Intangible assets, useful life | ' | ' | '15 years | ' |
Amortization expense | $86.20 | $68.10 | $250.50 | $201.70 |
Intangible_Assets_Net_Gross_An
Intangible Assets, Net (Gross And Net Carrying Amounts For Each Major Class Of Intangible Assets) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross amount | $5,131,696 | $4,363,758 |
Accumulated amortization | -1,220,941 | -976,560 |
Net book value | 3,910,755 | 3,387,198 |
Current Contract Intangibles [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross amount | 3,800,298 | 3,154,616 |
Accumulated amortization | -830,888 | -649,861 |
Net book value | 2,969,410 | 2,504,755 |
Network Location Intangibles [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross amount | 1,331,398 | 1,209,142 |
Accumulated amortization | -390,053 | -326,699 |
Net book value | $941,345 | $882,443 |
Property_And_Equipment_Net_Nar
Property And Equipment, Net (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 |
Property And Equipment, Net [Abstract] | ' | ' | ' | ' | ' |
Depreciation expense | $73 | $65.10 | $213.70 | $198.10 | ' |
Non-cash capital expenditures | ' | ' | $19.30 | ' | $11.40 |
Property_And_Equipment_Net_Pro
Property And Equipment, Net (Property And Equipment, Net (Including Assets Held Under Capital Leases)) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $4,564,289 | $4,250,861 |
Less: accumulated depreciation | -1,876,462 | -1,672,417 |
Property and equipment, net | 2,687,827 | 2,578,444 |
Towers and Related Components [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 4,070,524 | 3,821,482 |
Construction-In-Process [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 37,867 | 24,275 |
Furniture, Equipment and Vehicles [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 50,686 | 40,274 |
Land, Buildings, and Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $405,212 | $364,830 |
Costs_And_Estimated_Earnings_O2
Costs And Estimated Earnings On Uncompleted Contracts (Narrative) (Details) | 9 Months Ended | |
Sep. 30, 2014 | Dec. 31, 2013 | |
customer | ||
Costs And Estimated Earnings On Uncompleted Contracts [Abstract] | ' | ' |
Costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings, percentage comprised by significant customers | 87.80% | 89.60% |
Number of significant customers | 8 | ' |
Costs_And_Estimated_Earnings_O3
Costs And Estimated Earnings On Uncompleted Contracts (Summary Of Costs And Estimated Earnings On Uncompleted Contracts) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Costs And Estimated Earnings On Uncompleted Contracts [Abstract] | ' | ' |
Costs incurred on uncompleted contracts | $121,782 | $94,145 |
Estimated earnings | 53,720 | 32,547 |
Billings to date | -153,216 | -108,070 |
Costs and estimated earnings on uncompleted contracts | $22,286 | $18,622 |
Costs_And_Estimated_Earnings_O4
Costs And Estimated Earnings On Uncompleted Contracts (Costs And Estimated Earnings On Uncompleted Contracts Accompanying Consolidated Balance Sheets) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Costs And Estimated Earnings On Uncompleted Contracts [Abstract] | ' | ' |
Costs and estimated earnings in excess of billings on uncompleted contracts | $29,105 | $27,864 |
Other current liabilities (Billings in excess of costs and estimated earnings on uncompleted contracts) | -6,819 | -9,242 |
Costs and estimated earnings on uncompleted contracts | $22,286 | $18,622 |
Concentration_Of_Credit_Risk_N
Concentration Of Credit Risk (Narrative) (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Jun. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | |
customer | customer | |||
Concentration Risk [Line Items] | ' | ' | ' | ' |
Number of significant customers | ' | ' | 8 | ' |
Accounts Receivable [Member] | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Number of significant customers | 5 | 5 | ' | ' |
Concentration risk percentage of accounts receivable | ' | ' | 54.20% | 51.50% |
Concentration_Of_Credit_Risk_S
Concentration Of Credit Risk (Summary Of Significant Customers And Percentage Of Total Revenue For Specified Time Periods Derived From Such Customers) (Details) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | |||||
Domestic Site Leasing Revenue [Member] | AT&T [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 31.10% | [1] | 27.20% | [1] | 29.70% | [1] | 25.80% | [1] |
Domestic Site Leasing Revenue [Member] | Sprint [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 25.10% | [2] | 30.80% | [2] | 26.20% | [2] | 30.40% | [2] |
Domestic Site Leasing Revenue [Member] | T-Mobile [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 19.10% | [3] | 18.10% | [3] | 19.40% | [3] | 17.90% | [3] |
Domestic Site Leasing Revenue [Member] | Verizon [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 14.20% | 13.70% | 14.00% | 13.10% | ||||
International Site Leasing Revenue [Member] | Oi [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 46.20% | 1.30% | 43.10% | 1.20% | ||||
International Site Leasing Revenue [Member] | Telefonica [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 27.20% | 49.30% | 30.20% | 52.00% | ||||
International Site Leasing Revenue [Member] | Digicel [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 4.50% | 11.80% | 5.00% | 12.00% | ||||
Site Development Revenue [Member] | Sprint [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 46.10% | [2] | 1.80% | [2] | 32.20% | [2] | 0.90% | [2] |
Site Development Revenue [Member] | Ericsson, Inc [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 16.10% | 32.20% | 17.20% | 38.10% | ||||
Site Development Revenue [Member] | T-Mobile [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 7.40% | [3] | 10.50% | [3] | 8.90% | [3] | 7.90% | [3] |
Site Development Revenue [Member] | Verizon [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 10.00% | 4.90% | 9.80% | 4.30% | ||||
Site Development Revenue [Member] | Alcatel-Lucent [Member] | ' | ' | ' | ' | ||||
Concentration Risk [Line Items] | ' | ' | ' | ' | ||||
Concentration risk percentage of revenue | 0.70% | 8.10% | 2.50% | 10.10% | ||||
[1] | Prior year amounts have been adjusted to reflect the merger of AT&T Wireless and Cricket. | |||||||
[2] | Prior year amounts have been adjusted to reflect the merger of Sprint and Clearwire. | |||||||
[3] | Prior year amounts have been adjusted to reflect the merger of T-Mobile and Metro PCS. |
Accrued_Expenses_Details
Accrued Expenses (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | ||
Accrued Expenses [Abstract] | ' | ' |
Accrued earnouts | $23,136 | $30,063 |
Salaries and benefits | 12,340 | 11,351 |
Real estate and property taxes | 9,224 | 9,814 |
Other | 33,943 | 34,903 |
Accrued expenses | $78,643 | $86,131 |
Debt_Revolving_Credit_Facility
Debt (Revolving Credit Facility Under The Senior Credit Agreement) (Narrative) (Details) (USD $) | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | |||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Feb. 07, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Feb. 07, 2014 | Feb. 07, 2014 | Feb. 07, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
Subsequent Event [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | |||
Eurodollar [Member] | Base Rate [Member] | Eurodollar [Member] | Base Rate [Member] | Revolving Credit Facility [Member] | Eurodollar [Member] | Base Rate [Member] | Revolving Credit Facility [Member] | ||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, maximum borrowing capacity | ' | ' | ' | ' | $770,000,000 | $770,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis spread on variable interest rate | ' | ' | ' | ' | ' | ' | ' | 2.50% | 1.50% | 1.88% | 1.88% | 0.88% | ' | 2.38% | 2.38% | 1.38% | ' |
Line of credit facility, commitment fee | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.38% | ' | ' | ' | 0.50% |
Borrowings on the revolving credit facility | ' | ' | ' | ' | 300,000,000 | 575,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of revolving credit facility | 490,000,000 | 225,000,000 | 300,000,000 | 390,000,000 | 100,000,000 | 490,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, outstanding | ' | ' | ' | ' | 300,000,000 | 300,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, remaining borrowing capacity | ' | ' | ' | ' | 770,000,000 | 770,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | ' | ' | ' | $1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Revolving credit facility, effective interest rate | ' | ' | ' | ' | 2.54% | 2.54% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Term_Loans_Under_The_Seni
Debt (Term Loans Under The Senior Credit Agreement) (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | ||||||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Feb. 07, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Feb. 07, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Feb. 07, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Feb. 07, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Feb. 07, 2014 | Feb. 07, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
2011 Term Loan [Member] | 2011 Term Loan [Member] | 2011 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-2 Term Loan [Member] | 2012-2 Term Loan [Member] | 2012-2 Term Loan [Member] | 2012-2 Term Loan [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Eurodollar [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | Maximum [Member] | ||||||
First Eight Quarters [Member] | Next Four Quarters [Member] | Each Quarter Thereafter [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | Base Rate [Member] | Base Rate [Member] | Eurodollar [Member] | Eurodollar [Member] | Base Rate [Member] | Base Rate [Member] | Eurodollar [Member] | Eurodollar [Member] | ||||||||||||||||||||||||
2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | |||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | ' | ' | ' | ' | ' | $200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | $1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | ' | ' | 30-Jun-18 | ' | 9-May-17 | ' | ' | ' | ' | ' | ' | 28-Sep-19 | ' | 24-Mar-21 | 24-Mar-21 | ' | ' | ' | 9-May-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Basis spread on variable interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.50% | 2.50% | 1.88% | 0.88% | 1.00% | 1.88% | 2.00% | 2.38% | 1.38% | 1.50% | 2.38% | 2.50% |
Base rate floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Eurodollar rate floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Term Loan, percentage of par value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Coupon rate of notes | ' | ' | ' | ' | ' | ' | ' | ' | 2.66% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.25% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred financing fees | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | 12,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Quarterly payments | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | 3,750,000 | 5,000,000 | ' | ' | ' | ' | ' | 3,750,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayment of term loans | ' | ' | 303,000,000 | 509,500,000 | ' | 180,500,000 | ' | ' | 8,800,000 | ' | ' | ' | ' | 110,000,000 | 3,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Amortized deferred financing fees | 4,599,000 | 3,981,000 | 13,114,000 | 11,508,000 | ' | 1,100,000 | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Write off of discount related to debt | ' | ' | ' | ' | ' | 300,000 | ' | ' | ' | ' | ' | ' | ' | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate debt | 7,550,088,000 | ' | 7,550,088,000 | ' | 5,876,607,000 | ' | ' | 180,234,000 | 176,250,000 | 185,000,000 | ' | ' | ' | ' | ' | ' | 109,745,000 | ' | 1,492,778,000 | ' | ' | 300,000,000 | 300,000,000 | 215,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Repayments of revolving credit facility | ' | ' | $490,000,000 | $225,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $390,000,000 | $100,000,000 | $490,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Secured_Tower_Revenue_Sec
Debt (Secured Tower Revenue Securities) (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | |||||||||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Oct. 15, 2014 | Apr. 16, 2010 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 16, 2010 | Sep. 30, 2014 | Dec. 31, 2013 | Oct. 15, 2014 | Apr. 16, 2010 | Aug. 09, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 18, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 18, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 18, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 18, 2013 | Oct. 15, 2014 | Oct. 15, 2014 | Oct. 15, 2014 | Sep. 30, 2014 | Oct. 15, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 29, 2009 | Sep. 30, 2014 | Dec. 31, 2013 | |
4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 2010 Secured Tower Revenue Securities [Member] | 2010 Secured Tower Revenue Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 2013 Secured Tower Revenue Securities [Member] | 2.898% 2014-1C Tower Securities [Member] | 3.869% 2014-2C Tower Securities [Member] | 2014 Secured Tower Revenue Securities [Member] | 2014 Secured Tower Revenue Securities [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | ' | ' | ' | ' | ' | ' | $680,000,000 | ' | ' | $550,000,000 | ' | ' | ' | ' | $610,000,000 | ' | ' | $425,000,000 | ' | ' | $575,000,000 | ' | ' | $330,000,000 | ' | ' | $1,330,000,000 | $920,000,000 | $620,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, interest rate, stated percentage | ' | ' | ' | ' | ' | ' | 4.25% | 4.25% | ' | 5.10% | 5.10% | ' | ' | ' | 2.93% | 2.93% | ' | 2.24% | 2.24% | ' | 3.72% | 3.72% | ' | 3.60% | 3.60% | ' | ' | 2.90% | 3.87% | ' | ' | ' | ' | ' | 4.00% | 4.00% | ' |
Debt instrument, weighted average interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.22% | ' | ' | 3.29% | ' | ' | ' | ' | ' | ' | ' |
Repayment date of debt instrument | ' | ' | ' | ' | ' | ' | 15-Apr-15 | ' | ' | 17-Apr-17 | ' | ' | ' | ' | 15-Dec-17 | ' | ' | 16-Apr-18 | ' | ' | 17-Apr-23 | ' | ' | 16-Apr-18 | ' | ' | ' | 15-Oct-19 | 15-Oct-24 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | ' | ' | 16-Apr-40 | 15-Apr-15 | ' | 15-Apr-42 | 17-Apr-17 | ' | ' | ' | 15-Dec-42 | 15-Dec-17 | ' | 15-Apr-43 | 16-Apr-18 | ' | 15-Apr-48 | 17-Apr-23 | ' | 15-Apr-43 | 16-Apr-18 | ' | ' | 17-Oct-44 | 15-Oct-49 | ' | ' | ' | 9-May-17 | ' | 1-Oct-14 | 1-Oct-14 | ' |
Amortized deferred financing fees | 4,599,000 | 3,981,000 | 13,114,000 | 11,508,000 | ' | ' | ' | ' | ' | ' | ' | ' | 1,100,000 | 18,000,000 | 14,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 25,500,000 | ' | ' | ' | 20,900,000 | ' | ' | ' | ' | ' | ' |
Weighted average life of debt instrument through the anticipated repayment date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years 2 months 12 days | ' | ' | '7 years | ' | ' | ' | ' | ' | ' | ' |
Aggregate debt | 7,550,088,000 | ' | 7,550,088,000 | ' | 5,876,607,000 | ' | ' | 680,000,000 | 680,000,000 | ' | 550,000,000 | 550,000,000 | ' | ' | ' | 610,000,000 | 610,000,000 | ' | 425,000,000 | 425,000,000 | ' | 575,000,000 | 575,000,000 | ' | 330,000,000 | 330,000,000 | ' | ' | ' | 1,540,000,000 | ' | ' | 300,000,000 | 215,000,000 | ' | 367,068,000 | 468,394,000 |
Repayments of long-term debt | ' | ' | ' | ' | ' | $680,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000,000 | ' | ' | ' | ' | ' |
Debt_40_Convertible_Senior_Not
Debt (4.0% Convertible Senior Notes Due 2014) (Narrative) (Details) (USD $) | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2014 | Sep. 30, 2013 | Oct. 01, 2014 | Apr. 29, 2009 | Sep. 30, 2014 | Sep. 30, 2014 | Oct. 01, 2014 | Oct. 01, 2014 | Apr. 24, 2009 | Sep. 30, 2014 | Jun. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | Circumstance A [Member] | Circumstance B [Member] | Subsequent Event [Member] | |||
Class A Common Stock [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | ||||||||
Class A Common Stock [Member] | Class A Common Stock [Member] | ||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, issuance date | ' | ' | ' | 24-Apr-09 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible senior notes issued | ' | ' | ' | $500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, interest rate, stated percentage | ' | ' | ' | 4.00% | 4.00% | 4.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Interest payable dates | ' | ' | ' | 'April 1 and October 1 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | 1-Oct-14 | ' | 1-Oct-14 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Conversion rate | ' | ' | ' | ' | ' | ' | ' | ' | 0.0329164 | ' | ' | ' | ' | ' | ' |
Per share conversion price | ' | ' | ' | ' | ' | ' | ' | ' | $30.38 | ' | ' | ' | ' | ' | ' |
Conversion premium | ' | ' | ' | ' | ' | ' | ' | ' | 22.50% | ' | ' | ' | ' | ' | ' |
Last reported selling price | ' | ' | ' | ' | ' | ' | ' | ' | $24.80 | ' | ' | ' | ' | ' | ' |
Upper strike price of warrants | ' | ' | ' | ' | ' | ' | ' | ' | $44.64 | ' | ' | ' | ' | ' | ' |
Principal amount converted | ' | ' | 367,000,000 | ' | 11,300,000 | 132,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | 74,300,000 |
Issuance of common stock | ' | ' | ' | ' | ' | ' | ' | 8,700,000 | ' | 300,000 | ' | 3,000,000 | ' | ' | ' |
Common stock received from conversion settlement | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | 100,000 | 3,000,000 | ' | ' | ' |
Company paid in cash to settle warrants | 602,834,000 | 42,424,000 | ' | ' | 326,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement of outstanding warrants, percentage | ' | ' | ' | ' | 32.00% | 62.00% | ' | ' | ' | ' | ' | ' | ' | ' | 7.00% |
Number of warrants remaining under obligation | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,100,000 |
Number of warrants remaining under obligation, percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 31.00% |
Issuance of stock for conversion of debt, amount | 284,000 | 18,158,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Payments for settlement of convertible debt | 132,592,000 | 794,997,000 | 367,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate principal amount of convertible debt | ' | ' | ' | ' | ' | ' | $38,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Settlement of outstanding warrants | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,300,000 | 10,200,000 | 1,200,000 |
Debt_Senior_Notes_Narrative_De
Debt (Senior Notes) (Narrative) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | 0 Months Ended | 9 Months Ended | |||||||||||
Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Aug. 15, 2014 | Jul. 01, 2014 | Apr. 13, 2012 | Jul. 24, 2009 | Sep. 30, 2014 | Dec. 31, 2013 | Jul. 13, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 28, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Jul. 01, 2014 | Sep. 30, 2014 | Jul. 01, 2014 | Apr. 29, 2009 | Sep. 30, 2014 | Dec. 31, 2013 | |
8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | ||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured senior notes | ' | ' | ' | ' | ' | ' | ' | ' | $375,000,000 | ' | ' | $800,000,000 | ' | ' | $500,000,000 | ' | ' | ' | ' | $750,000,000 | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | 15-Aug-19 | 15-Aug-19 | ' | 15-Jul-20 | 15-Jul-20 | ' | 1-Oct-19 | 1-Oct-19 | ' | 15-Jul-22 | 15-Jul-22 | ' | 1-Oct-14 | 1-Oct-14 | ' |
Debt instrument, interest rate, stated percentage | ' | ' | ' | ' | ' | ' | ' | ' | 8.25% | 8.25% | ' | 5.75% | 5.75% | ' | 5.63% | 5.63% | ' | ' | 4.88% | 4.88% | 4.00% | 4.00% | ' |
Percentage of face value price for issuance of senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.18% | ' | ' | ' | ' | ' |
Interest payable dates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'July 15 and January 15 | ' | ' | 'April 1 and October 1 | ' | ' | 'January 15 and July 15 | ' | ' | 'April 1 and October 1 | ' | ' |
Amortized deferred financing fees | 4,599,000 | 3,981,000 | 13,114,000 | 11,508,000 | ' | 3,300,000 | 11,400,000 | 2,400,000 | ' | ' | ' | 14,000,000 | ' | ' | 8,600,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, aggregate principal amount redeemed | ' | ' | ' | ' | ' | 243,800,000 | 121,000,000 | 131,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Premium on redemption | ' | ' | ' | ' | ' | 10,100,000 | 253,000,000 | 10,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt discount expensed | ' | ' | ' | ' | ' | 1,200,000 | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, principal balance | $7,559,568,000 | ' | $7,559,568,000 | ' | $5,910,041,000 | ' | ' | ' | ' | ' | $243,750,000 | ' | $800,000,000 | $800,000,000 | ' | $500,000,000 | $500,000,000 | ' | $750,000,000 | ' | ' | $367,068,000 | $499,944,000 |
Debt_BNDES_Loans_Narrative_Det
Debt (BNDES Loans) (Narrative) (Details) (BNDES Loans [Member], USD $) | 9 Months Ended |
In Millions, unless otherwise specified | Sep. 30, 2014 |
BNDES Loans [Member] | ' |
Debt Instrument [Line Items] | ' |
Debt instrument, additional borrowings | $0.40 |
Repayments of BNDES Loans | $6.30 |
Debt_Carrying_And_Principal_Va
Debt (Carrying And Principal Values Of Debt) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 29, 2009 | Sep. 30, 2014 | Dec. 31, 2013 | Jul. 24, 2009 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 28, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Jul. 13, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Jul. 01, 2014 | Sep. 30, 2014 | Jul. 01, 2014 | Apr. 16, 2010 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 16, 2010 | Sep. 30, 2014 | Dec. 31, 2013 | Aug. 09, 2012 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 18, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 18, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Apr. 18, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2013 | Feb. 07, 2014 | Sep. 30, 2014 | Dec. 31, 2013 | Dec. 31, 2013 |
4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 4.254% 2010-1 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 5.101% 2010-2 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.933% 2012-1 Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 2.240% 2013-1C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.722% 2013-2C Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | 3.598% 2013-1D Tower Securities [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | 2011 Term Loan [Member] | 2011 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-2 Term Loan [Member] | 2012-2 Term Loan [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | BNDES Loans [Member] | |||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Principal Balance | $7,559,568,000 | $5,910,041,000 | ' | $367,068,000 | $499,944,000 | ' | ' | $243,750,000 | ' | $500,000,000 | $500,000,000 | ' | $800,000,000 | $800,000,000 | ' | $750,000,000 | ' | ' | $680,000,000 | $680,000,000 | ' | $550,000,000 | $550,000,000 | ' | $610,000,000 | $610,000,000 | ' | $425,000,000 | $425,000,000 | ' | $575,000,000 | $575,000,000 | ' | $330,000,000 | $330,000,000 | $300,000,000 | $215,000,000 | ' | $180,529,000 | $176,250,000 | $185,000,000 | ' | $109,971,000 | ' | $1,496,250,000 | ' | $5,847,000 |
Carrying Value | 7,550,088,000 | 5,876,607,000 | ' | 367,068,000 | 468,394,000 | ' | ' | 242,387,000 | ' | 500,000,000 | 500,000,000 | ' | 800,000,000 | 800,000,000 | ' | 743,992,000 | ' | ' | 680,000,000 | 680,000,000 | ' | 550,000,000 | 550,000,000 | ' | 610,000,000 | 610,000,000 | ' | 425,000,000 | 425,000,000 | ' | 575,000,000 | 575,000,000 | ' | 330,000,000 | 330,000,000 | 300,000,000 | 215,000,000 | ' | 180,234,000 | 176,250,000 | 185,000,000 | ' | 109,745,000 | ' | 1,492,778,000 | ' | 5,847,000 |
Less: current maturities of long-term debt | -1,078,318,000 | -481,886,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt, net of current maturities | $6,471,770,000 | $5,394,721,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, maturity date | ' | ' | 1-Oct-14 | 1-Oct-14 | ' | 15-Aug-19 | 15-Aug-19 | ' | 1-Oct-19 | 1-Oct-19 | ' | 15-Jul-20 | 15-Jul-20 | ' | 15-Jul-22 | 15-Jul-22 | ' | 16-Apr-40 | 15-Apr-15 | ' | 15-Apr-42 | 17-Apr-17 | ' | 15-Dec-42 | 15-Dec-17 | ' | 15-Apr-43 | 16-Apr-18 | ' | 15-Apr-48 | 17-Apr-23 | ' | 15-Apr-43 | 16-Apr-18 | ' | 9-May-17 | ' | 30-Jun-18 | ' | 9-May-17 | ' | 28-Sep-19 | ' | 24-Mar-21 | 24-Mar-21 | ' | ' |
Debt instrument, interest rate, stated percentage | ' | ' | 4.00% | 4.00% | ' | 8.25% | 8.25% | ' | 5.63% | 5.63% | ' | 5.75% | 5.75% | ' | ' | 4.88% | 4.88% | 4.25% | 4.25% | ' | 5.10% | 5.10% | ' | 2.93% | 2.93% | ' | 2.24% | 2.24% | ' | 3.72% | 3.72% | ' | 3.60% | 3.60% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Schedule_Of_Cash_And_NonC
Debt (Schedule Of Cash And Non-Cash Interest Expense) (Details) (USD $) | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | |||||||||||||||||||||||||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Apr. 29, 2009 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jul. 24, 2009 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 28, 2012 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Jul. 13, 2012 | Sep. 30, 2014 | Sep. 30, 2014 | Jul. 01, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
1.875% Convertible Senior Notes [Member] | 1.875% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | 4.875% Senior Notes [Member] | 2010 Secured Tower Revenue Securities [Member] | 2010 Secured Tower Revenue Securities [Member] | 2010 Secured Tower Revenue Securities [Member] | 2010 Secured Tower Revenue Securities [Member] | 2012 Secured Tower Revenue Securities [Member] | 2012 Secured Tower Revenue Securities [Member] | 2012 Secured Tower Revenue Securities [Member] | 2012 Secured Tower Revenue Securities [Member] | 2013 Secured Tower Revenue Securities [Member] | 2013 Secured Tower Revenue Securities [Member] | 2013 Secured Tower Revenue Securities [Member] | 2013 Secured Tower Revenue Securities [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | 2011 Term Loan [Member] | 2011 Term Loan [Member] | 2011 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2012-2 Term Loan [Member] | 2012-2 Term Loan [Member] | 2012-2 Term Loan [Member] | 2014 Term Loan [Member] | 2014 Term Loan [Member] | Other [Member] | Other [Member] | Other [Member] | Other [Member] | |||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Cash Interest | $78,170 | $62,987 | $215,695 | $185,569 | $2,670 | ' | $3,675 | $4,999 | $12,520 | $14,999 | ' | $2,458 | $5,027 | $12,513 | $15,082 | ' | $7,031 | $7,031 | $21,094 | $21,094 | ' | $11,500 | $11,500 | $34,500 | $34,500 | ' | $9,141 | $9,141 | ' | $14,346 | $14,349 | $43,036 | $43,037 | $4,521 | $4,521 | $13,564 | $13,564 | $10,804 | $10,804 | $32,413 | $19,588 | $1,007 | $856 | $3,279 | $3,338 | $1,730 | $696 | $8,802 | $1,222 | $1,123 | $3,336 | $3,516 | $1,054 | $424 | $5,362 | $12,458 | $28,911 | $7 | ($7) | $268 | $17 |
Non-cash Interest | $8,236 | $9,642 | $26,832 | $39,151 | $10,434 | ' | $7,934 | $9,570 | $26,266 | $28,446 | ' | $24 | $46 | $121 | $135 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $157 | $157 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $16 | $7 | $85 | ' | ' | ' | ' | $10 | $4 | $51 | $121 | $277 | ' | ' | ' | ' |
Debt instrument, interest rate, stated percentage | ' | ' | ' | ' | ' | 1.88% | 4.00% | ' | 4.00% | ' | 4.00% | 8.25% | ' | 8.25% | ' | 8.25% | 5.63% | ' | 5.63% | ' | 5.63% | 5.75% | ' | 5.75% | ' | 5.75% | 4.88% | 4.88% | 4.88% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_40_Convertible_Senior_Not1
Debt (4.0% Convertible Senior Notes due 2014 - Carrying Value Of Debt) (Details) (USD $) | Sep. 30, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' | ' |
Principal Balance | $7,559,568,000 | $5,910,041,000 |
Carrying Value | 7,550,088,000 | 5,876,607,000 |
4.0% Convertible Senior Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Principal Balance | 367,068,000 | 499,944,000 |
Carrying Value | $367,068,000 | $468,394,000 |
Shareholders_Equity_Narrative_
Shareholders' Equity (Narrative) (Details) (USD $) | Sep. 30, 2014 | Sep. 30, 2014 | Apr. 29, 2009 | Sep. 30, 2014 | Apr. 27, 2011 |
In Millions, unless otherwise specified | 1.875% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | 4.0% Convertible Senior Notes [Member] | Current Stock Repurchase Program [Member] | Current Stock Repurchase Program [Member] |
Class A Common Stock [Member] | Class A Common Stock [Member] | ||||
Class of Stock [Line Items] | ' | ' | ' | ' | ' |
Debt instrument stated percentage | 1.88% | 4.00% | 4.00% | ' | ' |
Stock repurchase program, authorized | ' | ' | ' | $300 | $300 |
Stock repurchase program, remaining authorization | ' | ' | ' | $150 | ' |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 9 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 |
Stock-Based Compensation [Abstract] | ' | ' |
Weighted-average fair value of options granted | $19.49 | $17.20 |
Total intrinsic value for options exercised | $46.50 | $30.70 |
StockBased_Compensation_Schedu
Stock-Based Compensation (Schedule Of Assumptions Used To Estimate Fair Value Of Stock Options) (Details) | 9 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2013 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Risk free interest rate, Minimum | 1.15% | 0.51% |
Risk free interest rate, Maximum | 1.37% | 1.38% |
Dividend yield | 0.00% | 0.00% |
Expected volatility | 22.00% | ' |
Expected lives | '4 years 4 months 24 days | ' |
Minimum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected volatility | ' | 25.00% |
Expected lives | ' | '3 years 10 months 24 days |
Maximum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected volatility | ' | 29.00% |
Expected lives | ' | '4 years 9 months 18 days |
StockBased_Compensation_Compan
Stock-Based Compensation (Company's Activities With Respect To Its Stock Options) (Details) (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 |
Stock-Based Compensation [Abstract] | ' |
Number of Shares Outstanding, Beginning Balance | 2,979 |
Number of Shares, Granted | 1,121 |
Number of Shares, Exercised | -743 |
Number of Shares, Canceled | -29 |
Number of Shares Outstanding, Ending Balance | 3,328 |
Number of Shares Exercisable, Ending Balance | 1,082 |
Number of Shares Unvested, Ending Balance | 2,246 |
Weighted-Average Exercise Price Per Share Outstanding, Beginning Balance | $48.30 |
Weighted-Average Exercise Price Per Share, Granted | $95.51 |
Weighted-Average Exercise Price Per Share, Exercised | $36.20 |
Weighted-Average Exercise Price Per Share, Canceled | $77.89 |
Weighted-Average Exercise Price Per Share Outstanding, Ending Balance | $66.64 |
Weighted-Average Exercise Price Per Share Exercisable, Ending Balance | $41.08 |
Weighted-Average Exercise Price Per Share Unvested, Ending Balance | $78.95 |
Weighted-Average Remaining Contractual Life (in years) Outstanding at September 30, 2014 | '4 years 10 months 24 days |
Weighted-Average Remaining Contractual Life (in years) Exercisable at September 30, 2014 | '3 years 2 months 12 days |
Weighted-Average Remaining Contractual Life (in years) Unvested at September 30, 2014 | '5 years 8 months 12 days |
Aggregate Intrinsic Value Exercisable at September 30, 2014 | $147,296 |
Aggregate Intrinsic Value Outstanding at September 30, 2014 | 75,516 |
Aggregate Intrinsic Value Unvested at September 30, 2014 | $71,780 |
StockBased_Compensation_Compan1
Stock-Based Compensation (Company's Restricted Stock Unit Activity) (Details) (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 |
Stock-Based Compensation [Abstract] | ' |
Number of Units Outstanding, at December 31, 2013 | 305 |
Number of Units, Granted | 118 |
Number of Units, Vested | -121 |
Number of Units, Forfeited/Canceled | -3 |
Number of Units Outstanding, at September 30, 2014 | 299 |
Weighted-Average Grant Date Fair Value per Share Outstanding, at December 31, 2013 | $55.60 |
Weighted-Average Grant Date Fair Value per Share, Granted | $95.55 |
Weighted-Average Grant Date Fair Value per Share, Vested | $50.14 |
Weighted-Average Grant Date Fair Value per Share, Forfeited/Canceled | $74.31 |
Weighted-Average Grant Date Fair Value per Share Outstanding, at September 30, 2014 | $73.42 |
Segment_Data_Narrative_Details
Segment Data (Narrative) (Details) | 9 Months Ended | 3 Months Ended | |
Sep. 30, 2014 | Sep. 30, 2014 | Sep. 30, 2014 | |
segment | Site Leasing Revenue [Member] | International Site Leasing Revenue [Member] | |
segment | Minimum [Member] | ||
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of business segments | 2 | 2 | ' |
Concentration risk percentage of revenue | ' | ' | 10.00% |
Segment_Data_Segment_Reporting
Segment Data (Segment Reporting Information Disclosure) (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||||||||
In Thousands, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||||
Revenues | $393,293 | $332,094 | $1,122,262 | $969,470 | ' | |||||
Cost of revenues | 111,876 | [1] | 103,295 | [1] | 316,481 | [1] | 307,715 | [1] | ' | |
Operating profit (loss) | 281,417 | 228,799 | 805,781 | 661,755 | ' | |||||
Selling, general, and administrative | 26,589 | [2] | 21,827 | [2] | 76,707 | [2] | 63,765 | [2] | ' | |
Asset impairment and decommission costs | 5,992 | 6,190 | 13,554 | 16,405 | ' | |||||
Acquisition related adjustment and expenses | -58 | 3,599 | 10,728 | 11,378 | ' | |||||
Depreciation, amortization and accretion | 159,410 | 133,281 | 464,858 | 400,006 | ' | |||||
Operating income (loss) | 89,484 | 63,902 | 239,934 | 170,201 | ' | |||||
Other expense (principally interest expense and other expense) | -105,126 | -42,164 | -259,909 | -205,507 | ' | |||||
Loss (income) before provision for income taxes | -15,642 | 21,738 | -19,975 | -35,306 | ' | |||||
Cash capital expenditures | 140,813 | [3] | 125,366 | [3] | 1,181,385 | [3] | 451,667 | [3] | ' | |
Assets | 7,808,992 | ' | 7,808,992 | ' | 6,783,188 | |||||
Domestic Site Leasing Revenue [Member] | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||||
Revenues | 293,775 | 267,540 | 854,003 | 781,366 | ' | |||||
Cost of revenues | 63,108 | [1] | 61,259 | [1] | 185,637 | [1] | 183,869 | [1] | ' | |
Operating profit (loss) | 230,667 | 206,281 | 668,366 | 597,497 | ' | |||||
Selling, general, and administrative | 16,908 | 15,321 | 49,665 | 44,088 | ' | |||||
Asset impairment and decommission costs | 5,536 | 5,678 | 12,263 | 14,860 | ' | |||||
Acquisition related adjustment and expenses | 2,242 | 1,838 | 8,878 | 2,833 | ' | |||||
Depreciation, amortization and accretion | 129,227 | 121,766 | 385,605 | 365,798 | ' | |||||
Operating income (loss) | 76,754 | 61,678 | 211,955 | 169,918 | ' | |||||
Cash capital expenditures | 113,561 | [3] | 63,401 | [3] | 451,384 | [3] | 177,835 | [3] | ' | |
Assets | 5,559,854 | ' | 5,559,854 | ' | 5,427,969 | |||||
International Site Leasing Revenue [Member] | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||||
Revenues | 55,235 | 19,943 | 144,778 | 59,122 | ' | |||||
Cost of revenues | 14,818 | [1] | 6,783 | [1] | 37,412 | [1] | 20,058 | [1] | ' | |
Operating profit (loss) | 40,417 | 13,160 | 107,366 | 39,064 | ' | |||||
Selling, general, and administrative | 4,413 | 2,500 | 12,518 | 6,765 | ' | |||||
Asset impairment and decommission costs | 456 | 512 | 1,291 | 1,545 | ' | |||||
Acquisition related adjustment and expenses | -2,300 | 1,761 | 1,850 | 8,545 | ' | |||||
Depreciation, amortization and accretion | 28,792 | 10,308 | 75,160 | 31,026 | ' | |||||
Operating income (loss) | 9,056 | -1,921 | 16,547 | -8,817 | ' | |||||
Cash capital expenditures | 17,514 | [3] | 58,343 | [3] | 712,920 | [3] | 266,845 | [3] | ' | |
Assets | 1,623,467 | ' | 1,623,467 | ' | 1,040,401 | |||||
Site Development [Member] | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||||
Revenues | 44,283 | 44,611 | 123,481 | 128,982 | ' | |||||
Cost of revenues | 33,950 | [1] | 35,253 | [1] | 93,432 | [1] | 103,788 | [1] | ' | |
Operating profit (loss) | 10,333 | 9,358 | 30,049 | 25,194 | ' | |||||
Selling, general, and administrative | 3,046 | 1,942 | 7,047 | 5,817 | ' | |||||
Depreciation, amortization and accretion | 660 | 731 | 1,788 | 1,762 | ' | |||||
Operating income (loss) | 6,627 | 6,685 | 21,214 | 17,615 | ' | |||||
Cash capital expenditures | 2,151 | [3] | 3,151 | [3] | 5,923 | [3] | 5,798 | [3] | ' | |
Assets | 68,167 | ' | 68,167 | ' | 76,214 | |||||
Not Identified by Segment [Member] | ' | ' | ' | ' | ' | |||||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | |||||
Selling, general, and administrative | 2,222 | [4] | 2,064 | [4] | 7,477 | [4] | 7,095 | [4] | ' | |
Depreciation, amortization and accretion | 731 | [4] | 476 | [4] | 2,305 | [4] | 1,420 | [4] | ' | |
Operating income (loss) | -2,953 | [4] | -2,540 | [4] | -9,782 | [4] | -8,515 | [4] | ' | |
Other expense (principally interest expense and other expense) | -105,126 | [4] | -42,164 | [4] | -259,909 | [4] | -205,507 | [4] | ' | |
Cash capital expenditures | 7,587 | [3],[4] | 471 | [3],[4] | 11,158 | [3],[4] | 1,189 | [3],[4] | ' | |
Assets | $557,504 | [4] | ' | $557,504 | [4] | ' | $238,604 | [4] | ||
[1] | Excludes depreciation, amortization, and accretion. | |||||||||
[2] | Includes non-cash compensation of $6,319 and $4,146 for the three months ended September 30, 2014 and 2013, respectively, and $16,951 and $12,836 for the nine months ended September 30, 2014 and 2013, respectively. | |||||||||
[3] | Includes cash paid for capital expenditures and acquisitions and vehicle capital lease additions. | |||||||||
[4] | Assets not identified by segment consist primarily of general corporate assets. |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2014 | Sep. 30, 2013 | Sep. 30, 2014 | Sep. 30, 2013 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Net (loss) income | ($16,624) | $21,531 | ($24,685) | ($36,747) |
Basic weighted-average shares outstanding | 129,046 | 127,885 | 128,854 | 127,555 |
Dilutive impact of stock options and restricted shares | ' | 1,195 | ' | ' |
Dilutive impact of common stock warrants | ' | 7,832 | ' | ' |
Diluted weighted-average shares outstanding | 129,046 | 136,912 | 128,854 | 127,555 |
Earnings (loss) per share attributable to continuing operations: | ' | ' | ' | ' |
Basic | ($0.13) | $0.17 | ($0.19) | ($0.29) |
Diluted | ($0.13) | $0.16 | ($0.19) | ($0.29) |