SBA Communications (SBAC) 10-Q 7 Nov 19 2019 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Oct. 31, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Sep. 30, 2019
Amendment Flag	false
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Registrant Name	SBA COMMUNICATIONS CORPORATION
Entity Central Index Key	0001034054
Entity File Number	001-16853
Entity Incorporation, State Country Name	Florida
Entity Tax Identification Number	650716501
Entity Address, Address Line One	8051 Congress Avenue
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	Florida
Entity Address, Postal Zip Code	33487
City Area Code	561
Local Phone Number	995-7670
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		112,601,008

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents		$ 128,778	$ 143,444
Restricted cash		27,502	32,464
Accounts receivable, net		122,725	111,035
Costs and estimated earnings in excess of billings on uncompleted contracts		28,303	23,785
Prepaid expenses and other current assets	[1]	21,946	63,126
Total current assets		329,254	373,854
Property and equipment, net	[1]	2,763,055	2,786,355
Intangible assets, net		3,261,885	3,331,465
Right-of-use assets, net	[1]	2,449,933
Other assets	[1]	397,011	722,033
Total assets		9,201,138	7,213,707
Current Liabilities:
Accounts payable		35,130	34,308
Accrued expenses		63,151	63,665
Current maturities of long-term debt		24,000	941,728
Deferred revenue		112,382	108,054
Accrued interest		34,493	48,722
Current lease liabilities	[1]	230,197
Other current liabilities	[1]	10,799	9,802
Total current liabilities		510,152	1,206,279
Long-term liabilities:
Long-term debt, net		9,821,502	8,996,825
Long-term lease liabilities	[1]	2,174,512
Other long-term liabilities	[1]	241,269	387,426
Total long-term liabilities		12,237,283	9,384,251
Redeemable noncontrolling interest		14,077
Shareholders' 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, 112,604 shares and 112,433 shares issued and outstanding at September 30, 2019 and December 31, 2018, respectively		1,126	1,124
Additional paid-in capital		2,446,369	2,270,326
Accumulated deficit		(5,387,091)	(5,136,368)
Accumulated other comprehensive loss, net		(620,778)	(511,905)
Total shareholders' deficit		(3,560,374)	(3,376,823)
Total liabilities, redeemable noncontrolling interests, and shareholders' deficit		$ 9,201,138	$ 7,213,707
[1]	On January 1, 2019, the Company adopted ASU 2016-02 which requires lessees to recognize a right-of-use asset and a lease liability. Upon adoption, certain assets and liabilities were reclassified to Right-of-use assets, net and lease liabilities in accordance with provisions of ASU 2016-02. See Note 1 for further discussion.

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Consolidated Balance Sheets [Abstract]
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
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	112,604,000	112,433,000
Common stock - Class A, shares outstanding	112,604,000	112,433,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Site leasing		$ 468,572	$ 435,260	$ 1,379,758	$ 1,295,686
Site development		38,975	31,961	121,229	86,160
Total revenues		507,547	467,221	1,500,987	1,381,846
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):
Cost of site leasing		92,993	92,294	279,167	278,800
Cost of site development		30,516	24,447	92,606	67,693
Selling, general, and administrative	[1]	42,272	34,908	148,755	106,901
Acquisition and new business initiatives related adjustments and expenses		4,692	2,995	9,669	9,171
Asset impairment and decommission costs		8,240	6,868	23,631	22,778
Depreciation, accretion, and amortization		174,987	167,703	517,590	502,659
Total operating expenses		353,700	329,215	1,071,418	988,002
Operating income		153,847	138,006	429,569	393,844
Other income (expense):
Interest income		1,311	2,006	4,692	4,972
Interest expense		(96,567)	(95,717)	(292,681)	(278,278)
Non-cash interest expense		(662)	(632)	(1,954)	(2,002)
Amortization of deferred financing fees		(5,157)	(4,980)	(15,333)	(15,265)
Loss from extinguishment of debt, net		(457)		(457)	(14,443)
Other income (expense), net		(33,551)	(24,518)	(21,296)	(110,175)
Total other income (expense), net		(135,083)	(123,841)	(327,029)	(415,191)
Income (loss) before income taxes		18,764	14,165	102,540	(21,347)
(Provision) benefit for income taxes		3,002	1,979	(22,813)	11,645
Net income (loss)		21,766	16,144	79,727	(9,702)
Net (income) attributable to the noncontrolling interest		(87)		(87)
Net income (loss) attributable to SBA Communications Corporation		$ 21,679	$ 16,144	$ 79,640	$ (9,702)
Net income (loss) per common share attributable to SBA Communications Corporation:
Basic		$ 0.19	$ 0.14	$ 0.70	$ (0.08)
Diluted		$ 0.19	$ 0.14	$ 0.69	$ (0.08)
Weighted average number of common shares
Basic		113,037	114,597	112,985	115,378
Diluted		115,184	116,114	114,824	115,378
[1]	Includes non-cash compensation of $ 12,281 and $ 10,261 for the three months ended September 30, 2019 and 2018, respectively, and $ 59,017 and $ 31,188 for the nine months ended September 30, 2019 and 2018, respectively.

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Non-cash compensation expense			$ 60,633	$ 32,140
Selling, General And Administrative [Member]
Non-cash compensation expense	$ 12,281	$ 10,261	$ 59,017	$ 31,188

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Consolidated Statements of Comprehensive Loss [Abstract]
Net income (loss)	$ 21,766	$ 16,144	$ 79,727	$ (9,702)
Change in fair value of cash flow hedge	(10,811)		(62,404)
Foreign currency translation adjustments	(55,047)	(27,598)	(46,469)	(149,057)
Comprehensive loss	(44,092)	(11,454)	(29,146)	(158,759)
Comprehensive loss attributable to the noncontrolling interest	(87)		(87)
Comprehensive loss attributable to SBA Communications Corporation	$ (44,179)	$ (11,454)	$ (29,233)	$ (158,759)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Deficit - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]Class A Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss, Net [Member]	Total
BALANCE at Dec. 31, 2017	$ 1,164	$ 2,167,470	$ (4,388,288)	$ (379,460)	$ (2,599,114)
BALANCE, Shares at Dec. 31, 2017	116,446
Net income (loss) attributable to SBA Communications Corporation			31,545		31,545
Common stock issued in connection with stock purchase/option plans	$ 3	6,883			6,886
Common stock issued in connection with stock purchase/option plans, Shares	264
Non-cash stock compensation		10,636			10,636
Repurchase and retirement of common stock	$ (2)		(38,543)		(38,545)
Repurchase and retirement of common stock, Shares	(238)
Foreign currency translation adjustments				351	351
BALANCE at Mar. 31, 2018	$ 1,165	2,184,989	(4,395,286)	(379,109)	(2,588,241)
BALANCE, Shares at Mar. 31, 2018	116,472
BALANCE at Dec. 31, 2017	$ 1,164	2,167,470	(4,388,288)	(379,460)	(2,599,114)
BALANCE, Shares at Dec. 31, 2017	116,446
Net income (loss) attributable to SBA Communications Corporation					(9,702)
Foreign currency translation adjustments					(149,057)
BALANCE at Sep. 30, 2018	$ 1,142	2,233,793	(4,851,501)	(528,517)	(3,145,083)
BALANCE, Shares at Sep. 30, 2018	114,244
BALANCE at Mar. 31, 2018	$ 1,165	2,184,989	(4,395,286)	(379,109)	(2,588,241)
BALANCE, Shares at Mar. 31, 2018	116,472
Net income (loss) attributable to SBA Communications Corporation			(57,391)		(57,391)
Common stock issued in connection with stock purchase/option plans	$ 2	20,791			20,793
Common stock issued in connection with stock purchase/option plans, Shares	238
Non-cash stock compensation		11,493			11,493
Repurchase and retirement of common stock	$ (19)		(306,960)		(306,979)
Repurchase and retirement of common stock, Shares	(1,878)
Foreign currency translation adjustments				(121,810)	(121,810)
BALANCE at Jun. 30, 2018	$ 1,148	2,217,273	(4,759,637)	(500,919)	(3,042,135)
BALANCE, Shares at Jun. 30, 2018	114,832
Net income (loss) attributable to SBA Communications Corporation			16,144		16,144
Common stock issued in connection with stock purchase/option plans	$ 1	5,849			5,850
Common stock issued in connection with stock purchase/option plans, Shares	109
Non-cash stock compensation		10,671			10,671
Repurchase and retirement of common stock	$ (7)		(108,008)		(108,015)
Repurchase and retirement of common stock, Shares	(697)
Foreign currency translation adjustments				(27,598)	(27,598)
BALANCE at Sep. 30, 2018	$ 1,142	2,233,793	(4,851,501)	(528,517)	(3,145,083)
BALANCE, Shares at Sep. 30, 2018	114,244
BALANCE at Dec. 31, 2018	$ 1,124	2,270,326	(5,136,368)	(511,905)	$ (3,376,823)
BALANCE, Shares at Dec. 31, 2018	112,433				112,433
Net income (loss) attributable to SBA Communications Corporation			25,989		$ 25,989
Common stock issued in connection with stock purchase/option plans	$ 8	63,467			63,475
Common stock issued in connection with stock purchase/option plans, Shares	762
Non-cash stock compensation		23,722			23,722
Common stock issued in connection with acquisitions		1,680			1,680
Common stock issued in connection with acquisitions, Shares	10
Change in fair value of cash flow hedge				(15,312)	(15,312)
Foreign currency translation adjustments				(4,544)	(4,544)
BALANCE at Mar. 31, 2019	$ 1,132	2,359,195	(5,131,347)	(531,761)	(3,302,781)
BALANCE, Shares at Mar. 31, 2019	113,205
BALANCE at Dec. 31, 2018	$ 1,124	2,270,326	(5,136,368)	(511,905)	$ (3,376,823)
BALANCE, Shares at Dec. 31, 2018	112,433				112,433
Net income (loss) attributable to SBA Communications Corporation					$ 79,640
Change in fair value of cash flow hedge					(62,404)
Foreign currency translation adjustments					(46,469)
BALANCE at Sep. 30, 2019	$ 1,126	2,446,369	(5,387,091)	(620,778)	$ (3,560,374)
BALANCE, Shares at Sep. 30, 2019	112,604				112,604
Impact of adoption of ASU 2016-02 related to leases			(20,968)		$ (20,968)
BALANCE at Mar. 31, 2019	$ 1,132	2,359,195	(5,131,347)	(531,761)	(3,302,781)
BALANCE, Shares at Mar. 31, 2019	113,205
Net income (loss) attributable to SBA Communications Corporation			31,973		31,973
Common stock issued in connection with stock purchase/option plans	$ 3	24,443			24,446
Common stock issued in connection with stock purchase/option plans, Shares	348
Non-cash stock compensation		24,747			24,747
Change in fair value of cash flow hedge				(36,281)	(36,281)
Repurchase and retirement of common stock	$ (4)		(94,568)		(94,572)
Repurchase and retirement of common stock, Shares	(463)
Foreign currency translation adjustments				13,122	13,122
BALANCE at Jun. 30, 2019	$ 1,131	2,408,385	(5,193,942)	(554,920)	(3,339,346)
BALANCE, Shares at Jun. 30, 2019	113,090
Net income (loss) attributable to SBA Communications Corporation			21,679		21,679
Common stock issued in connection with stock purchase/option plans	$ 2	24,986			24,988
Common stock issued in connection with stock purchase/option plans, Shares	208
Non-cash stock compensation		12,998			12,998
Change in fair value of cash flow hedge				(10,811)	(10,811)
Repurchase and retirement of common stock	$ (7)		(172,955)		(172,962)
Repurchase and retirement of common stock, Shares	(694)
Foreign currency translation adjustments				(55,047)	(55,047)
Payment of dividends on common stock			(41,873)		(41,873)
BALANCE at Sep. 30, 2019	$ 1,126	$ 2,446,369	$ (5,387,091)	$ (620,778)	$ (3,560,374)
BALANCE, Shares at Sep. 30, 2019	112,604				112,604

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 79,727	$ (9,702)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, accretion, and amortization	517,590	502,659
Non-cash asset impairment and decommission costs	22,816	22,146
Non-cash compensation expense	60,633	32,140
Deferred income tax expense (benefit)	5,988	(27,925)
Loss on remeasurement of U.S. dollar denominated intercompany loans	25,880	113,138
Other non-cash items reflected in the Statements of Operations	14,839	31,374
Changes in operating assets and liabilities, net of acquisitions:
AR and costs and est. earnings in excess of billings on uncompleted contracts, net	(13,909)	(4,655)
Prepaid expenses and other assets	669	(28,061)
Operating lease right-of-use assets, net	68,518
Accounts payable and accrued expenses	(2,521)	(2,496)
Accrued interest	(14,228)	(14,813)
Long-term lease liabilities	(64,057)
Other liabilities	3,039	10,338
Net cash provided by operating activities	704,984	624,143
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions	(283,701)	(403,835)
Capital expenditures	(111,381)	(104,966)
Purchase of investments	(528,915)	(99,823)
Proceeds from sale of investments	515,557	95,890
Other investing activities	(6,626)	(7,583)
Net cash used in investing activities	(415,066)	(520,317)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under Revolving Credit Facility	265,000	805,000
Repayments under Revolving Credit Facility	(590,000)	(725,000)
Repayment of Tower Securities	(920,000)	(755,000)
Proceeds from issuance of Tower Securities, net of fees	1,153,036	631,479
Repurchase and retirement of common stock	(267,534)	(453,539)
Proceeds from employee stock purchase/stock option plans	112,909	33,678
Repayment of Term Loans	(18,000)	(1,941,000)
Proceeds from Term Loans, net of fees		2,377,264
Payment of dividends on common stock	(41,873)
Other financing activities	(1,119)	(4,071)
Net cash used in financing activities	(307,581)	(31,189)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(1,957)	(13,608)
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(19,620)	59,029
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:
Beginning of period	178,300	104,295
End of period	158,680	163,324
Cash paid during the period for:
Interest	306,810	293,372
Income taxes	14,860	16,525
SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES:
Right-of-use assets obtained in exchange for new operating lease liabilities	37,913
Operating lease modifications and reassessments	67,794
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 1,706	$ 1,142
Common stock issued in connection with acquisitions	1,680
Consolidation of an equity method investment	$ 71,990

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2019
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, 2018 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 the 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 amounts, when known, may vary from these estimates. Foreign Currency Translation All assets and liabilities of foreign subsidiaries that do not utilize the U.S. dollar as its functional currency are translated at period-end exchange rates, while revenues and expenses are translated at monthly average exchange rates during the period. Unrealized remeasurement gains and losses are reported as foreign currency translation adjustments through Accumulated Other Comprehensive Loss in the Consolidated Statement of Shareholders’ Deficit. For foreign subsidiaries where the U.S. dollar is the functional currency, monetary assets and liabilities of such subsidiaries, which are not denominated in U.S. dollars, are remeasured at exchange rates in effect at the balance sheet date, and revenues and expenses are remeasured at monthly average rates prevailing during the year. Unrealized translation gains and losses are reported as other income (expense), net in the Consolidated Statements of Operations. Intercompany Loans Subject to Remeasurement In accordance with Accounting Standards Codification (ASC) 830, the Company remeasures foreign denominated intercompany loans with the corresponding change in the balance being recorded in Other income (expense), net in the Consolidated Statement of Operations as settlement is anticipated or planned in the foreseeable future. The Company recorded a $ 21.0 million loss and a $ 17.1 million loss, net of taxes, on the remeasurement of intercompany loans for the three months ended September 30, 2019 and 2018, respectively, and a $ 16.3 million loss and a $ 74.7 million loss, net of taxes, on the remeasurement of intercompany loans for the nine months ended September 30, 2019 and 2018, respectively, due to changes in foreign exchange rates. As of September 30, 2019 and December 31, 2018, the aggregate amount outstanding under the intercompany loan agreements with the Company’s Brazilian subsidiary was $ 434.8 million and $ 536.9 million, respectively. As of September 30, 2019, the aggregate amount outstanding under the intercompany loan agreement with the Company’s South African subsidiary was $ 58.9 million. Leases The Company adopted ASU No. 2016-02, Leases (“Topic 842”) using the modified retrospective adoption method with an effective date of January 1, 2019. The consolidated financial statements for 2019 are presented under the new standard, while the comparative periods presented are not adjusted and continue to be reported in accordance with the Company's historical accounting policy. This standard requires all lessees to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments. The Company has elected not to separate nonlease components from the associated lease component for all underlying classes of assets. The adoption of the new lease standard had a significant impact on the Company’s Consolidated Balance Sheets resulting in the recognition of $ 2.6 billion of right-of-use assets, net, $ 226.0 million of current lease liabilities, and $ 2.3 billion of long-term lease liabilities. The right-of-use assets included $ 266.3 million of rent prepayments and financing lease right-of-use assets, net which were previously reported in Prepaid expenses and other current assets, Other assets, and Property, Plant and Equipment, net on the Consolidated Balance Sheets. In addition, the Company recognized a $ 21.0 million cumulative effect adjustment, net of tax, to Accumulated deficit on the Consolidated Balance Sheet related to the unamortized deferred lease costs incurred in prior periods which do not meet the definition of initial direct costs under Topic 842. The adoption of Topic 842 did not have a significant impact on the Company’s lease classification or a material impact on its Consolidated Statements of Operations and liquidity. Additionally, the adoption of Topic 842 did not have a material impact on the Company’s debt covenant compliance under its current agreements. The components of the right-of-use assets and lease liabilities as of September 30, 2019 are as follows (in thousands): Operating lease right-of-use assets, net $ 2,446,640 Financing lease right-of-use assets, net 3,293 Right-of-use assets, net $ 2,449,933 Current operating lease liabilities $ 229,210 Current financing lease liabilities 987 Current lease liabilities $ 230,197 Long-term operating lease liabilities $ 2,173,039 Long-term financing lease liabilities 1,473 Long-term lease liabilities $ 2,174,512 Operating Leases Ground leases. The Company enters into long-term lease contracts for land that underlies its tower structures. Ground lease agreements generally include renewal options which can be exercised exclusively at the Company’s election. In making the determination of the period for which the Company is reasonably certain to remain on the site, the Company will assume optional renewals are reasonably certain of being exercised for the greater of: (1) a period sufficient to cover all tenants under their current committed term where the Company has provided rights to the tower not to exceed the contractual ground lease terms including renewals, and (2) a period sufficient to recover the investment of significant leasehold improvements located on the site. Substantially all leases provide for rent rate escalations. The most common provisions provide for fixed rent escalators which typically average 2 - 3 % annually. The Company also has ground leases that include consumer price index escalators, particularly in its South American operations. Increases or decreases in lease payments that result from subsequent changes in the index or rate are accounted for as variable lease payments. Office leases. The Company’s office leases consist of long-term leases for international, regional, and certain site development office locations. Office leases include a single lease component, lease of the office space and sometimes nonlease components such as common area maintenance expenses. The lease term for office leases are generally considered to be the contractually committed term. Finance Leases Vehicle leases. The Company leases vehicles that are used in its site development business. These leases are accounted for as financing leases and have lease terms that are contractually committed and do not include optional renewal terms. Discount Rate When available, the Company uses the rate implicit in the lease to discount lease payments to present value. However, the Company’s ground leases generally do not provide a readily determinable implicit rate. Therefore, the Company estimates the incremental borrowing rate to discount lease payments based on information available at lease commencement or upon a modification. The Company uses publicly available data for instruments with similar characteristics when calculating its incremental borrowing rates. Lease Cost Variable lease payments include escalations based on standard cost of living indexes and are initially recognized using the prevailing index at the date of initial measurement or upon reassessment of the lease term. Subsequent changes in standard cost of living increases are recognized as variable lease costs. Variable lease payments also include contingent rent provisions. The components of lease cost, lease term, and discount rate as of September 30, 2019 are as follows: For the three months For the nine months ended September 30, 2019 ended September 30, 2019 (in thousands) Amortization of right-of-use assets $ 296 $ 917 Interest on finance lease liabilities 28 82 Total finance lease cost 324 999 Operating lease cost (1) 66,059 200,881 Variable lease cost (1) 10,190 27,356 Total lease cost $ 76,573 $ 229,236 Weighted Average Remaining Lease Term as of September 30, 2019 Operating leases 17 years Finance leases 3 years Weighted Average Discount Rate as of September 30, 2019 Operating leases 6.1 % Finance leases 3.9 % For the nine months Other information: ended September 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Cash flows from operating leases $ 177,960 Cash flows from finance leases $ 917 (1) For the three and nine months ended September 30, 2018, operating lease costs were $ 67.7 million and $ 205.3 million, respectively. For the three and nine months ended September 30, 2018, variable lease costs were $ 6.8 million and $ 20.3 million, respectively. Tenant (Operating) Leases The Company enters into long-term lease contracts with wireless service providers to lease antenna space on towers that it owns or operates. Each tenant lease relates to the lease or use of space at an individual site. Tenant leases are generally for an initial term of 5 to ten year s with multiple 5 year renewal periods at the option of the tenant. Tenant leases typically contain specific rent escalators, which can be fixed or escalate in accordance with a standard cost of living index, including the renewal option periods. Tenant lease agreements generally include renewal options which can be exercised exclusively at the tenant’s election. The only common exception is if the Company no longer has a right to the ground underlying the site, the lease agreements permit the Company to terminate the lease. Despite high frequency of renewal of options to extend the lease by its tenants, the Company has concluded that the exercise of a renewal option by a tenant is not reasonably certain of occurrence; therefore, only the current committed term is included in the determination of the lease term. Certain tenant leases provide for a reimbursement of costs incurred by the Company. The Company pays these costs directly and is not relieved of the primary obligation for the expenses. These reimbursements are recorded as revenue on the Statements of Operations. Deferred Lease Costs Prior to the adoption of ASU 2016-02, the Company deferred certain initial direct costs associated with the origination of tenant leases and lease amendments and amortized these costs over the remaining lease term. These costs included an allocation of a portion of the employees’ total compensation and payroll related benefits related to time spent performing those activities. Such deferred costs were approximately $ 2.8 million and $ 8.8 million for the three and nine months ended September 30, 2018. Amortization expense related to these deferred costs was $ 3.2 million and $ 9.3 million for the three and nine months ended September 30, 2018 and is included in cost of site leasing on the Consolidated Statements of Operations. As of December 31, 2018, unamortized deferred lease costs were $ 27.0 million. ASU 2016-02, defines initial direct costs as incremental costs that would not have been incurred if the lease had not been obtained. These costs, including commissions paid related to the origination of specific tenant leases, will continue to be deferred and amortized over the remaining lease term. Upon adoption, the Company recognized a $ 21.0 million cumulative effect adjustment, net of tax, to Accumulated deficit on the Consolidated Balance Sheets. This adjustment reflects the recognition of unamortized deferred lease costs incurred in prior periods which do not meet the definition of initial direct costs under Topic 842. Initial direct costs were approximately $ 0.4 million and $ 1.6 million for the three and nine months ended September 30, 2019. Amortization expense related to deferred initial direct costs was $ 0.4 million and $ 1.1 million for the three and nine months ended September 30, 2019. As of September 30, 2019, unamortized deferred initial direct costs were $ 4.3 million and were included in other assets on the Consolidated Balance Sheets.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
Fair Value Measurements [Abstract]
Fair Value Measurements	2. FAIR VALUE MEASUREMENTS Items Measured at Fair Value on a Recurring Basis — The Company’s earnout liabilities related to business combinations are measured at fair value on a recurring basis using Level 3 inputs and are recorded in Accrued expenses in the Consolidated Balance Sheets. Changes in estimates are recorded in Acquisition and new business initiatives related adjustments and expenses in the Consolidated Statements of Operations. The Company determines the fair value of earnouts (contingent consideration) and any subsequent changes in fair value using a discounted probability-weighted approach 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 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 maximum potential obligation related to the performance targets for acquisitions, which have not been recorded on the Company’s Consolidated Balance Sheet, were $ 28.9 million and $ 14.0 million as of September 30, 2019 and December 31, 2018, respectively. The Company’s asset retirement obligations are measured at fair value on a recurring basis using Level 3 inputs and are recorded in Other long-term liabilities in the Consolidated Balance Sheets. The fair value of the asset retirement obligations is calculated using a discounted cash flow model. Items Measured at Fair Value on a Nonrecurring Basis — The Company’s long-lived and intangible assets 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 and intangible assets is calculated using a discounted cash flow model. Asset impairment and decommission costs for all periods presented and the related impaired assets primarily relate to the Company’s site leasing operating segment. The following summarizes the activity of asset impairment and decommission costs (in thousands): For the three months For the nine months ended September 30, ended September 30, 2019 2018 2019 2018 Asset impairment (1) $ 5,742 $ 2,909 $ 13,326 $ 13,291 Write-off of carrying value of decommissioned towers 2,241 3,561 9,405 7,932 Other (including third party decommission costs) 257 398 900 1,555 Total asset impairment and decommission costs $ 8,240 $ 6,868 $ 23,631 $ 22,778 (1) Represents impairment charges resulting from the Company’s regular analysis of whether the future cash flows from certain towers are adequate to recover the carrying value of the investment in those towers. 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 shorter maturity of these instruments. Short-term investments consisted of $ 0.2 million in Treasury securities as of September 30, 2019 and December 31, 2018. 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, 2019 and December 31, 2018, the carrying value and fair value of the held-to-maturity investments, including current portion, were $ 0.2 million. The current portion is recorded in Prepaid and other current assets in the Consolidated Balance Sheets, while held-to-maturity investments are recorded in Other assets. As of September 30, 2019, in addition to the Treasury securities, the Company had $ 0.5 million of short-term investments. For the three months ended September 30, 2019, the Company purchased $ 235.0 million and sold $ 260.0 million of short-term investments. For the nine months ended September 30, 2019, the Company purchased and sold $ 515.0 million of short-term investments. On February 1, 2019, the Company, through its wholly owned subsidiary, SBA Senior Finance II, LLC, entered into a four year interest rate swap on a portion of its 2018 Term Loan in order to reduce the Company’s exposure to fluctuations in interest rates. The interest rate swap has a $ 1.2 billion notional value receiving interest at one month LIBOR plus 200 basis points and paying a fixed rate of 4.495 % per annum settled monthly. The Company designated this swap as a cash flow hedge. On May 23, 2019, the Company, through its wholly owned subsidiary, SBA Senior Finance II, LLC, entered into a four year interest rate swap on a portion of its 2018 Term Loan. The interest rate swap has a $ 750.0 million notional value receiving interest at one month LIBOR plus 200 basis points and paying a fixed rate of 4.08 % per annum settled monthly. The Company designated this swap as a cash flow hedge. On a quarterly basis, the Company evaluates whether the swaps remain highly effective in offsetting changes in cash flows. As of September 30, 2019, the Company believes that the hedges remain highly effective and changes in the fair value were recorded in Accumulated other comprehensive loss, net on the Consolidated Balance Sheet. As of September 30, 2019, the fair value of the swaps using Level 2 inputs resulted in a liability of $ 62.4 million and was included within Other long-term liabilities on the Consolidated Balance Sheet. The Company is exposed to counterparty credit risk to the extent that a counterparty fails to meet the terms of a contract. The Company’s exposure is limited to the current value of the contract at the time the counterparty fails to perform. 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 monthly or more frequently. The Company does not believe its credit risk has changed materially from the date the applicable Eurodollar Rate was set for the Revolving Credit Facility ( 112.5 to 175.0 basis points). Refer to Note 10 for the fair values, principal balances, and carrying values of the Company’s debt instruments.

Restricted Cash

Restricted Cash	9 Months Ended
	Sep. 30, 2019
Restricted Cash [Abstract]
Restricted Cash	3. RESTRICTED CASH The cash, cash equivalents, and restricted cash balances on the Consolidated Statements of Cash Flows consist of the following: As of As of September 30, 2019 December 31, 2018 Included on Balance Sheet (in thousands) Cash and cash equivalents $ 128,778 $ 143,444 Securitization escrow accounts 27,309 32,260 Restricted cash - current asset Payment and performance bonds 193 204 Restricted cash - current asset Surety bonds and workers compensation 2,400 2,392 Other assets - noncurrent Total cash, cash equivalents, and restricted cash $ 158,680 $ 178,300 Pursuant to the terms of the Tower Securities (see Note 10), the Company is required to establish a securitization escrow account, held by the 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. The restricted cash in the securitization escrow account in excess of required reserve balances is subsequently released to the Borrowers (as defined in Note 10) 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 related to the Company’s tower removal obligations. As of September 30, 2019 and December 31, 2018, the Company had $ 41.4 million and $ 40.5 million in surety, payment and performance bonds, respectively, for which no collateral was required to be posted. The Company periodically evaluates the collateral posted for its bonds to ensure that it meets the minimum requirements. As of September 30, 2019 and December 31, 2018, the Company had also pledged $ 2.3 million and $ 2.2 million, respectively, as collateral related to its workers compensation policy.

Costs and Estimated Earnings on

Costs and Estimated Earnings on Uncompleted Contracts	9 Months Ended
	Sep. 30, 2019
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Costs and Estimated Earnings on Uncompleted Contracts	4. COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS The Company’s costs and estimated earnings on uncompleted contracts are comprised of the following: As of As of September 30, 2019 December 31, 2018 (in thousands) Costs incurred on uncompleted contracts $ 51,291 $ 38,464 Estimated earnings 19,191 16,655 Billings to date ( 43,403 ) ( 31,952 ) $ 27,079 $ 23,167 These amounts are included in the Consolidated Balance Sheets under the following captions: As of As of September 30, 2019 December 31, 2018 (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 28,303 $ 23,785 Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities) ( 1,224 ) ( 618 ) $ 27,079 $ 23,167 At September 30, 2019 and December 31, 2018, eight customers comprised 96.5 % and 96.3 % of the contract assets, net of contract liabilities.

Acquisitions

Acquisitions	9 Months Ended
	Sep. 30, 2019
Acquisitions [Abstract]
Acquisitions	5. ACQUISITIONS The following table summarizes the Company’s acquisition activity: For the three months For the nine months ended September 30, ended September 30, 2019 2018 2019 2018 (in thousands) Acquisitions of towers and related intangible assets (1) (2) $ 99,173 $ 110,464 $ 224,585 $ 372,054 Land buyouts and other assets (3) 33,346 8,008 59,116 31,781 Total cash acquisition capital expenditures $ 132,519 $ 118,472 $ 283,701 $ 403,835 (1) The nine months ended September 30, 2019 excludes $ 1.7 million of acquisition costs funded through the issuance of 10,000 shares of Class A common stock. (2) On August 30, 2019, the Company acquired an additional interest of a previously unconsolidated joint venture in South Africa which resulted in the consolidation of the entity. The cash consideration is included herein. Furthermore, the three and nine months ended September 30, 2019 excludes $ 72.0 million associated with the consolidation of this entity. (3) In addition, the Company paid $ 7.0 million and $ 6.7 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended September 30, 2019 and 2018, respectively, and paid $ 13.1 million and $ 16.4 million for ground lease extensions and term easements on land underlying the Company’s towers during the nine months ended September 30, 2019 and 2018, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets. During the nine months ended September 30, 2019, the Company allocated the purchase price of 1,103 completed towers and related assets and liabilities consisting of $ 51.3 million of property and equipment, $ 286.7 million of intangible assets, and $ 41.4 million of other net liabilities assumed. All acquisitions in the three months ended September 30, 2019 were accounted for as asset acquisitions. All but one acquisition in the nine months ended September 30, 2019 were accounted for as asset acquisitions. During the three months ended March 31, 2019, the Company consummated an acquisition for $ 3.0 million in cash and $ 1.7 million in the Company’s Class A common stock, which was accounted for as a business combination. Subsequent to September 30, 2019, the Company acquired 6 towers and related assets for $ 6.7 million in cash.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets and Other Assets	9 Months Ended
	Sep. 30, 2019
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Prepaid Expenses and Other Current Assets and Other Assets	6. PREPAID EXPENSES AND OTHER CURRENT ASSETS AND OTHER ASSETS The Company’s prepaid expenses and other current assets are comprised of the following: As of As of September 30, 2019 December 31, 2018 (in thousands) Prepaid ground rent (1) $ 1,497 $ 34,276 Loan receivables — 11,178 Marketable Securities 656 239 Prepaid real estate taxes 4,193 2,998 Other 15,600 14,435 Total prepaid expenses and other current assets $ 21,946 $ 63,126 (1) Prepaid ground rent related to non-contingent rent provisions was reclassified to Right-of-use assets, net on the Consolidated Balance Sheets in the first quarter of 2019 due to the adoption of ASU 2016-02. The Company’s other assets are comprised of the following: As of As of September 30, 2019 December 31, 2018 (in thousands) Prepaid ground rent (1) $ — $ 263,694 Straight-line rent receivable 326,220 322,073 Loan receivables 8,767 49,255 Deferred lease costs, net (1) 4,342 27,020 Deferred tax asset - long term 16,981 18,330 Other 40,701 41,661 Total other assets $ 397,011 $ 722,033 (1) Prepaid ground rent was reclassified from Other assets to Right-of-use assets, net on the Consolidated Balance Sheets in the first quarter of 2019 and deferred lease costs of $ 23.3 million were written off to Accumulated deficit on the Consolidated Balance Sheets in the first quarter of 2019 due to the adoption of ASU 2016-02.

Property and Equipment, Net

Property and Equipment, Net	9 Months Ended
	Sep. 30, 2019
Property and Equipment, Net [Abstract]
Property and Equipment, Net	7. PROPERTY AND EQUIPMENT, NET Property and equipment, net consists of the following: As of As of September 30, 2019 December 31, 2018 (in thousands) Towers and related components $ 5,069,473 $ 4,951,321 Construction-in-process (1) 36,814 35,756 Furniture, equipment, and vehicles (2) 49,677 54,814 Land, buildings, and improvements 724,361 668,459 Total property and equipment 5,880,325 5,710,350 Less: accumulated depreciation (2) ( 3,117,270 ) ( 2,923,995 ) Property and equipment, net $ 2,763,055 $ 2,786,355 (1) Construction-in-process represents costs incurred related to towers that are under development and will be used in the Company’s site leasing operations. (2) Financing lease right-of-use assets are included in the prior period but are included in Right-of-use assets, net on the Consolidated Balance Sheets for the current period. Depreciation expense was $ 71.4 million and $ 67.5 million for the three months ended September 30, 2019 and 2018, respectively, and $ 210.1 million and $ 200.6 million for the nine months ended September 30, 2019 and 2018, respectively. At September 30, 2019 and December 31, 2018, unpaid capital expenditures that are included in accounts payable and accrued expenses were $ 11.8 million and $ 12.4 million, respectively.

Intangible Assets, Net

Intangible Assets, Net	9 Months Ended
	Sep. 30, 2019
Intangible Assets, Net [Abstract]
Intangible Assets, Net	8. INTANGIBLE ASSETS, NET The following table provides the gross and net carrying amounts for each major class of intangible assets: As of September 30, 2019 As of December 31, 2018 Gross carrying Accumulated Net book Gross carrying Accumulated Net book amount amortization value amount amortization value (in thousands) Current contract intangibles $ 4,564,516 $ ( 2,130,479 ) $ 2,434,037 $ 4,394,416 $ ( 1,928,030 ) $ 2,466,386 Network location intangibles 1,713,590 ( 885,742 ) 827,848 1,669,859 ( 804,780 ) 865,079 Intangible assets, net $ 6,278,106 $ ( 3,016,221 ) $ 3,261,885 $ 6,064,275 $ ( 2,732,810 ) $ 3,331,465 All intangible assets noted above are included in the Company’s site leasing segment. Amortization expense relating to the intangible assets above was $ 103.5 million and $ 100.1 million for the three months ended September 30, 2019 and 2018, respectively, and $ 307.3 million and $ 301.7 million for the nine months ended September 30, 2019 and 2018, respectively.

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2019
Accrued Expenses [Abstract]
Accrued Expenses	9. ACCRUED EXPENSES The Company’s accrued expenses are comprised of the following: As of As of September 30, 2019 December 31, 2018 (in thousands) Salaries and benefits $ 14,864 $ 16,015 Real estate and property taxes 10,474 7,928 Unpaid capital expenditures 11,781 12,387 Other 26,032 27,335 Total accrued expenses $ 63,151 $ 63,665

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt [Abstract]
Debt	10. DEBT The principal values, fair values, and carrying values of debt consist of the following (in thousands): As of As of September 30, 2019 December 31, 2018 Maturity Date Principal Balance Fair Value Carrying Value Principal Balance Fair Value Carrying Value 2014 Senior Notes Jul. 15, 2022 $ 750,000 $ 757,500 $ 742,993 $ 750,000 $ 735,000 $ 741,273 2016 Senior Notes Sep. 1, 2024 1,100,000 1,141,250 1,085,591 1,100,000 1,034,000 1,083,689 2017 Senior Notes Oct. 1, 2022 750,000 763,125 744,392 750,000 712,500 743,099 2013-2C Tower Securities Apr. 11, 2023 575,000 589,410 570,574 575,000 569,164 569,715 2014-1C Tower Securities Oct. 8, 2019 — — — 920,000 914,241 917,728 2014-2C Tower Securities Oct. 8, 2024 620,000 650,175 614,979 620,000 609,665 614,315 2015-1C Tower Securities Oct. 8, 2020 500,000 502,500 497,493 500,000 496,640 495,737 2016-1C Tower Securities Jul. 9, 2021 700,000 705,236 696,445 700,000 691,432 694,994 2017-1C Tower Securities Apr. 11, 2022 760,000 766,300 754,546 760,000 744,496 753,028 2018-1C Tower Securities Mar. 9, 2023 640,000 662,586 633,928 640,000 641,478 632,725 2019-1C Tower Securities Jan. 12, 2025 1,165,000 1,165,501 1,153,140 — — — Revolving Credit Facility Apr. 11, 2023 — — — 325,000 325,000 325,000 2018 Term Loan Apr. 11, 2025 2,370,000 2,372,963 2,351,421 2,388,000 2,262,630 2,367,250 Total debt $ 9,930,000 $ 10,076,546 $ 9,845,502 $ 10,028,000 $ 9,736,246 $ 9,938,553 Less: current maturities of long-term debt ( 24,000 ) ( 941,728 ) Total long-term debt, net of current maturities $ 9,821,502 $ 8,996,825 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, 2019 2018 2019 2018 Cash Non-cash Cash Non-cash Cash Non-cash Cash Non-cash Interest Interest Interest Interest Interest Interest Interest Interest (in thousands) 2014 Senior Notes $ 9,141 $ 201 $ 9,141 $ 191 $ 27,422 $ 596 $ 27,422 $ 567 2016 Senior Notes 13,406 265 13,406 252 40,219 786 40,219 748 2017 Senior Notes 7,500 — 7,500 — 22,500 — 22,500 — 2013 Tower Securities 5,396 — 5,396 — 16,188 — 20,267 — 2014 Tower Securities 11,439 — 12,785 — 37,009 — 38,354 — 2015-1C Tower Securities 3,985 — 3,985 — 11,954 — 11,954 — 2016-1C Tower Securities 5,090 — 5,090 — 15,271 — 15,271 — 2017-1C Tower Securities 6,096 — 6,096 — 18,269 — 18,268 — 2018-1C Tower Securities 5,570 — 5,570 — 16,711 — 12,502 — 2019-1C Tower Securities 1,671 — — — 1,671 — — — Revolving Credit Facility 1,009 — 1,721 — 5,409 — 4,911 — 2014 Term Loan — — — — — — 15,550 146 2015 Term Loan — — — — — — 5,237 187 2018 Term Loan 26,243 196 25,096 189 79,959 572 46,303 354 Other 21 — ( 69 ) — 99 — ( 480 ) — Total $ 96,567 $ 662 $ 95,717 $ 632 $ 292,681 $ 1,954 $ 278,278 $ 2,002 Senior Credit Agreement Revolving Credit Facility under the Senior Credit Agreement The Revolving Credit Facility consists of a revolving loan under which up to $ 1.25 billion aggregate principal amount may be borrowed, repaid and redrawn, based upon specific financial ratios and subject to the satisfaction of other customary conditions to borrowing. Amounts borrowed under the Revolving Credit Facility accrue interest, at SBA Senior Finance II’s election, at either (1) the Eurodollar Rate plus a margin that ranges from 112.5 basis points to 175.0 basis points or (2) the Base Rate plus a margin that ranges from 12.5 basis points to 75.0 basis points, in each case based on the ratio of Consolidated Net Debt to Annualized Borrower EBITDA, calculated in accordance with the Senior Credit Agreement. In addition, SBA Senior Finance II is required to pay a commitment fee of between 0.20 % and 0.25 % per annum on the amount of unused commitment. If not earlier terminated by SBA Senior Finance II, the Revolving Credit Facility will terminate on, and SBA Senior Finance II will repay all amounts outstanding on or before, April 11, 2023 . The proceeds available under the Revolving Credit Facility may be used for general corporate purposes. 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 the period may not be reflective of the total amounts outstanding during such period. During the three months ended September 30, 2019, the Company borrowed $ 175.0 million and repaid $ 255.0 million of the outstanding balance under the Revolving Credit Facility. During the nine months ended September 30, 2019, the Company borrowed $ 265.0 million and repaid $ 590.0 million of the outstanding balance under the Revolving Credit Facility. As of September 30, 2019, there was no balance outstanding under the Revolving Credit Facility. In addition, SBA Senior Finance II was required to pay a commitment fee of 0.20 % per annum on the amount of the unused commitment. As of September 30, 2019, SBA Senior Finance II was in compliance with the financial covenants contained in the Senior Credit Agreement. Term Loans under the Senior Credit Agreement 2014 Term Loan The 2014 Term Loan consisted of a senior secured term loan with an initial aggregate principal amount of $ 1.5 billion that was scheduled to mature on March 24, 2021 . The 2014 Term Loan accrued interest, at SBA Senior Finance II’s election, at either the Base Rate plus 125 basis points (with a zero Base Rate floor) or the Eurodollar Rate plus 225 basis points (with a zero Eurodollar Rate floor). The 2014 Term Loan was originally issued at 99.75 % of par value. Principal payments on the 2014 Term Loan commenced on September 30, 2014 and were being made in quarterly installments on the last day of each March, June, September, and December in an amount equal to $ 3.8 million. The Company incurred deferred financing fees of approximately $ 14.1 million in relation to this transaction, which were being amortized through the maturity date. During the three months ended March 31, 2018, the Company repaid $ 3.8 million of principal on the 2014 Term Loan. On April 11, 2018, the Company repaid the remaining $ 1,443.8 million outstanding principal balance of the 2014 Term Loan with proceeds from the 2018 Term Loan. In connection with the repayment, the Company expensed $ 5.8 million of net deferred financing fees and $ 1.7 million of discount related to the debt. 2015 Term Loan The 2015 Term Loan consisted of a senior secured term loan with an initial aggregate principal amount of $ 500.0 million that was scheduled to mature on June 10, 2022 . The 2015 Term Loan accrued interest, at SBA Senior Finance II’s election at either the Base Rate plus 125 basis points (with a zero Base Rate floor) or the Eurodollar Rate plus 225 basis points (with a zero Eurodollar Rate floor). The 2015 Term Loan was originally issued at 99.0 % of par value. Principal payments on the 2015 Term Loan commenced on September 30, 2015 and were being made in quarterly installments on the last day of each March, June, September, and December in an amount equal to $ 1.3 million. The Company incurred deferred financing fees of approximately $ 5.5 million in relation to this transaction, which were being amortized through the maturity date. During the three months ended March 31, 2018, the Company repaid $ 1.3 million of principal on the 2015 Term Loan. On April 11, 2018, the Company repaid the remaining $ 486.3 million outstanding principal balance of the 2015 Term Loan with proceeds from the 2018 Term Loan. In connection with the repayment, the Company expensed $ 3.2 million of net deferred financing fees and $ 3.1 million of discount related to the debt. 2018 Term Loan On April 11, 2018, the Company, through its wholly owned subsidiary, SBA Senior Finance II LLC, obtained a new term loan (the “2018 Term Loan”) under the amended and restated Senior Credit Agreement. The 2018 Term Loan consists of a senior secured term loan with an initial aggregate principal amount of $ 2.4 billion that matures on April 11, 2025 . The 2018 Term Loan accrues interest, at SBA Senior Finance II’s election at either the Base Rate plus 100 basis points (with a zero Base Rate floor) or the Eurodollar Rate plus 200 basis points (with a zero Eurodollar Rate floor). The 2018 Term Loan was issued at 99.75 % of par value. As of September 30, 2019, the 2018 Term Loan was accruing interest at 4.05 % per annum. Principal payments on the 2018 Term Loan commenced on September 30, 2018 and are being made in quarterly installments on the last day of each March, June, September, and December in an amount equal to $ 6.0 million. The Company incurred deferred financing fees of approximately $ 16.8 million in relation to this transaction, which are being amortized through the maturity date. The proceeds from the 2018 Term Loan were used (1) to retire the outstanding $ 1.93 billion in aggregate principal amount of the 2014 Term Loan and 2015 Term Loan, (2) to pay down the existing outstanding balance under the Revolving Credit Facility, and (3) for general corporate purposes. During the three and nine months ended September 30, 2019, the Company repaid $ 6.0 million and $ 18.0 million, respectively, of principal on the 2018 Term Loan. As of September 30, 2019, the 2018 Term Loan had a principal balance of $ 2.4 billion. On February 1, 2019, the Company, through its wholly owned subsidiary, SBA Senior Finance II, LLC, entered into a four year interest rate swap on a portion of its 2018 Term Loan in order to reduce the Company’s exposure to fluctuations in interest rates. The interest rate swap has a $ 1.2 billion notional value receiving interest at one month LIBOR plus 200 basis points and paying a fixed rate of 4.495 % per annum settled monthly. On May 23, 2019, the Company, through its wholly owned subsidiary, SBA Senior Finance II, LLC, entered into a four year interest rate swap on a portion of its 2018 Term Loan in order to reduce the Company’s exposure to fluctuations in interest rates. The interest rate swap has a $ 750.0 million notional value receiving interest at one month LIBOR plus 200 basis points and paying a fixed rate of 4.08 % per annum settled monthly. Secured Tower Revenue Securities 2013 Tower Securities On April 18, 2013, the Company, through a New York common law trust (the “Trust”), issued $ 425.0 million of 2.240 % Secured Tower Revenue Securities Series 2013-1C, which had an anticipated repayment date of April 10, 2018 and a final maturity date of April 9, 2043 (the “2013-1C Tower Securities”), $ 575.0 million of 3.722 % Secured Tower Revenue Securities Series 2013-2C, which have an anticipated repayment date of April 11, 2023 and a final maturity date of April 9, 2048 (the “2013-2C Tower Securities”), and $ 330.0 million of 3.598 % Secured Tower Revenue Securities Series 2013-1D, which had an anticipated repayment date of April 10, 2018 and a final maturity date of April 9, 2043 (the “2013-1D Tower Securities”) (collectively the “2013 Tower Securities”). The aggregate $ 1.33 billion of 2013 Tower Securities had a blended interest rate of 3.218 % per annum, payable monthly. The Company incurred financing fees of $ 11.0 million in relation to this transaction, which were being amortized through the anticipated repayment date of each of the 2013 Tower Securities. On March 9, 2018, the Company repaid the entire aggregate principal amount of the 2013-1C Tower Securities and 2013-1D Tower Securities in connection with the issuance of the 2018-1C Tower Securities (as defined below). 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 had an anticipated repayment date of October 8, 2019 and a final maturity date of October 11, 2044 (the “2014-1C Tower Securities”) and $ 620.0 million of 3.869 % Secured Tower Revenue Securities Series 2014-2C, which have an anticipated repayment date of October 8, 2024 and a final maturity date of October 8, 2049 (the “2014-2C Tower Securities”) (collectively the “2014 Tower Securities”). The aggregate $ 1.54 billion of 2014 Tower Securities had a blended interest rate of 3.289 % per annum, payable monthly. The Company incurred financing fees of $ 22.5 million in relation to this transaction, which were being amortized through the anticipated repayment date of each of the 2014 Tower Securities. On September 13, 2019, the Company repaid the entire aggregate principal amount of the 2014-1C Tower Securities in connection with the issuance of the 2019-1C Tower Securities (as defined below). 2015-1C Tower Securities On October 14, 2015, the Company, through the Trust, issued $ 500.0 million of Secured Tower Revenue Securities Series 2015-1C, which have an anticipated repayment date of October 8, 2020 and a final maturity date of October 10, 2045 (the “2015-1C Tower Securities”). The fixed interest rate of the 2015-1C Tower Securities is 3.156 % per annum, payable monthly. The Company incurred financing fees of $ 11.2 million in relation to this transaction, which are being amortized through the anticipated repayment date of the 2015-1C Tower Securities. 2016-1C Tower Securities On July 7, 2016, the Company, through the Trust, issued $ 700.0 million of Secured Tower Revenue Securities Series 2016-1C, which have an anticipated repayment date of July 9, 2021 and a final maturity date of July 10, 2046 (the “2016-1C Tower Securities”). The fixed interest rate of the 2016-1C Tower Securities is 2.877 % per annum, payable monthly. The Company incurred financing fees of $ 9.5 million in relation to this transaction, which are being amortized through the anticipated repayment date of the 2016-1C Tower Securities. 2017-1C Tower Securities On April 17, 2017, the Company, through the Trust, issued $ 760.0 million of Secured Tower Revenue Securities Series 2017-1C, which have an anticipated repayment date of April 11, 2022 and a final maturity date of April 9, 2047 (the “2017-1C Tower Securities”). The fixed interest rate on the 2017-1C Tower Securities is 3.168 % per annum, payable monthly. The Company incurred financing fees of $ 10.2 million in relation to this transaction, which are being amortized through the anticipated repayment date of the 2017-1C Tower Securities. In addition, to satisfy certain risk retention requirements of Regulation RR promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), SBA Guarantor, LLC, a wholly owned subsidiary, purchased $ 40.0 million of Secured Tower Revenue Securities Series 2017-1R issued by the Trust, which have an anticipated repayment date of April 11, 2022 and a final maturity date of April 9, 2047 (the “2017-1R Tower Securities”). The fixed interest rate on the 2017-1R Tower Securities is 4.459 % per annum, payable monthly. Principal and interest payments made on the 2017-1R Tower Securities eliminate in consolidation. 2018-1C Tower Securities On March 9, 2018, the Company, through the Trust, issued $ 640.0 million of Secured Tower Revenue Securities Series 2018-1C, which have an anticipated repayment date of March 9, 2023 and a final maturity date of March 9, 2048 (the “2018-1C Tower Securities”). The fixed interest rate on the 2018-1C Tower Securities is 3.448 % per annum, payable monthly. The Company incurred financing fees of $ 8.6 million in relation to this transaction, which are being amortized through the anticipated repayment date of the 2018-1C Tower Securities. In addition, to satisfy certain risk retention requirements of Regulation RR promulgated under the Exchange Act, SBA Guarantor, LLC, a wholly owned subsidiary, purchased $ 33.7 million of Secured Tower Revenue Securities Series 2018-1R issued by the Trust. These securities have an anticipated repayment date of March 9, 2023 and a final maturity date of March 9, 2048 (the “2018-1R Tower Securities”). The fixed interest rate on the 2018-1R Tower Securities is 4.949 % per annum, payable monthly. Principal and interest payments made on the 2018-1R Tower Securities eliminate in consolidation. 2019-1C Tower Securities On September 13, 2019, the Company, through the Trust, issued $ 1.165 billion of Secured Tower Revenue Securities Series 2019-1C, which have an anticipated repayment date of January 12, 2025 and a final maturity date of January 12, 2050 (the “2019-1C Tower Securities”). The fixed interest rate on the 2019-1C Tower Securities is 2.836 % per annum, payable monthly. Net proceeds from this offering were used to repay the entire aggregate principal amount of the 2014-1C Tower Securities ($ 920.0 million), as well as accrued and unpaid interest, amounts outstanding on the Revolving Credit Facility, and any remaining amount was used for general corporate purposes. The Company has incurred deferred financing fees of $ 12.0 million to date in relation to this transaction, which are being amortized through the anticipated repayment date of the 2019-1C Tower Securities. In addition, to satisfy certain risk retention requirements of Regulation RR promulgated under the Exchange Act, SBA Guarantor, LLC, a wholly owned subsidiary, purchased $ 61.4 million of Secured Tower Revenue Securities Series 2019-1R issued by the Trust. These securities have an anticipated repayment date of January 12, 2025 and a final maturity date of January 12, 2050 (the “2019-1R Tower Securities”). The fixed interest rate on the 2019-1R Tower Securities is 4.213 % per annum, payable monthly. Principal and interest payments made on the 2019-1R Tower Securities eliminate in consolidation. In connection with the issuance of the 2019-1C Tower Securities, the non-recourse mortgage loan was increased by $ 1.2 billion (but increased by a net of $ 306.4 million after giving effect to prepayment of the loan components relating to the 2014-1C Tower Securities). The new loan, after eliminating the risk retention securities, accrues interest at the same rate as the 2019-1C Tower Securities and is subject to all other material terms of the existing mortgage loan, including collateral and interest rate after the anticipated repayment date. Debt Covenants and Terms of the Tower Revenue Securities As of September 30, 2019, the entities that are borrowers on the mortgage loan (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. The sole asset of the Trust consists of a non-recourse mortgage loan made in favor of the Borrowers. Senior Notes 2014 Senior Notes On July 1, 2014, the Company issued $ 750.0 million of unsecured senior notes due July 15, 2022 (the “2014 Senior Notes”). The 2014 Senior Notes accrue interest at a rate of 4.875 % per annum and were issued at 99.178 % of par value. Interest on the 2014 Senior Notes is due semi-annually on January 15 and July 15 of each year. The Company incurred financing fees of $ 11.6 million in relation to this transaction, which are being amortized through the maturity date. The 2014 Senior Notes are subject to redemption in whole or in part at the redemption prices set forth in the indenture agreement plus accrued and unpaid interest. The Company may redeem the 2014 Senior Notes during the twelve-month period beginning on the following dates at the following redemption prices: July 15, 2019 at 101.219 % or July 15, 2020 until maturity at 100.000 % of the principal amount of the 2014 Senior Notes to be redeemed on the redemption date plus accrued and unpaid interest. 2016 Senior Notes On August 15, 2016, the Company issued $ 1.1 billion of unsecured senior notes due September 1, 2024 (the “2016 Senior Notes”). The 2016 Senior Notes accrue interest at a rate of 4.875 % per annum and were issued at 99.178 % of par value. Interest on the 2016 Senior Notes is due semi-annually on March 1 and September 1 of each year, beginning on March 1, 2017. The Company incurred financing fees of $ 12.8 million in relation to this transaction, which are being amortized through the maturity date. The 2016 Senior Notes are subject to redemption in whole or in part on or after September 1, 2019 at the redemption prices set forth in the indenture agreement plus accrued and unpaid interest. The Company may redeem the 2016 Senior Notes during the twelve-month period beginning on the following dates at the following redemption prices: September 1, 2019 at 103.656 %, September 1, 2020 at 102.438 %, September 1, 2021 at 101.219 %, or September 1, 2022 until maturity at 100.000 %, of the principal amount of the 2016 Senior Notes to be redeemed on the redemption date plus accrued and unpaid interest. 2017 Senior Notes On October 13, 2017, the Company issued $ 750.0 million of unsecured senior notes due October 1, 2022 (the “2017 Senior Notes”). The 2017 Senior Notes accrue interest at a rate of 4.0 % per annum. Interest on the 2017 Senior Notes is due semi-annually on April 1 and October 1 of each year, beginning on April 1, 2018. The Company incurred financing fees of $ 8.9 million in relation to this transaction, which are being amortized through the maturity date. The 2017 Senior Notes are subject to redemption in whole or in part on or after October 1, 2019 at the redemption prices set forth in the indenture agreement plus accrued and unpaid interest. Prior to October 1, 2020, the Company may, at its option, redeem up to 35 % of the aggregate principal amount of the 2017 Senior Notes originally issued at a redemption price of 104.000 % of the principal amount of the 2017 Senior Notes to be redeemed on the redemption date plus accrued and unpaid interest with the net proceeds of certain equity offerings. The Company may redeem the 2017 Senior Notes during the twelve-month period beginning on the following dates at the following redemption prices: October 1, 2019 at 102.000 %, October 1, 2020 at 101.000 %, or October 1, 2021 until maturity at 100.000 %, of the principal amount of the 2017 Senior Notes to be redeemed on the redemption date plus accrued and unpaid interest.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2019
Shareholders' Equity [Abstract]
Shareholders' Equity	11. SHAREHOLDERS’ EQUITY Common Stock Equivalents The Company has outstanding stock options and restricted stock units which were considered in the Company’s diluted earnings per share calculation (see Note 15). Stock Repurchases On July 29, 2019, the Company’s Board of Directors authorized a new $ 1.0 billion stock repurchase plan, replacing the prior plan authorized on February 16, 2018 which had a remaining authorization of $ 110.0 million. This new plan authorizes the Company to purchase, from time to time, up to $ 1.0 billion of the Company’s outstanding Class A common stock through open market repurchases in compliance with Rule 10b-18 under the Exchange Act and/or in privately negotiated transactions at management’s discretion based on market and business conditions, applicable legal requirements and other factors. Shares repurchased will be retired. The new plan has no time deadline and will continue until otherwise modified or terminated by the Company’s Board of Directors at any time in its sole discretion. During the three months ended September 30, 2019, the Company repurchased 0.7 million shares of its Class A common stock under its existing stock repurchase plan for $ 175.7 million, at an average price per share of $ 249.04 . During the nine months ended September 30, 2019, the Company repurchased 1.2 million shares of its Class A common stock for $ 270.3 million, at an average price per share of $ 231.20 . Shares repurchased were retired. As of the date of this filing, the Company had $ 824.3 million of authorization remaining under the current stock repurchase plan. Dividends On September 25, 2019 , the Company paid a cash dividend of $ 0.37 per share, or an aggregate amount of $ 41.9 million, to shareholders of record at the close of business on August 28, 2019 . On October 25, 2019 , the Company’s Board of Directors declared another quarterly cash dividend of $ 0.37 per share on shares of the Company’s Class A common stock. The dividend will be payable on December 19, 2019 to shareholders of record at the close of business on November 21, 2019 .

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2019
Stock-Based Compensation [Abstract]
Stock-Based Compensation	12. 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, as well as to estimate the expected option life. 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, 2019 2018 Risk free interest rate 1.37 % - 2.47 % 2.57 % - 2.87 % Dividend yield 1.3 % 0.7 % Expected volatility 20 % 22 % Expected lives 4.6 years 4.6 years The following table summarizes the Company’s activities with respect to its stock option plans for the nine months ended September 30, 2019 as follows (dollars and 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, 2018 4,816 $ 114.48 Granted 1,068 $ 183.41 Exercised ( 1,290 ) $ 103.43 Forfeited/canceled ( 56 ) $ 139.03 Outstanding at September 30, 2019 4,538 $ 133.55 4.4 $ 488,143 Exercisable at September 30, 2019 1,939 $ 109.35 3.0 $ 255,552 Unvested at September 30, 2019 2,599 $ 151.62 5.4 $ 232,591 The weighted-average per share fair value of options granted during the nine months ended September 30, 2019 was $ 33.99 . The total intrinsic value for options exercised during the nine months ended September 30, 2019 was $ 129.6 million. Restricted Stock Units The following table summarizes the Company’s restricted stock unit activity for the nine months ended September 30, 2019: Weighted-Average Number of Grant Date Fair Shares Value per Share (in thousands) Outstanding at December 31, 2018 324 $ 128.69 Granted 134 $ 185.31 Vested ( 130 ) $ 125.71 Forfeited/canceled ( 11 ) $ 150.07 Outstanding at September 30, 2019 317 $ 153.20 During 2018, the Board of Directors adopted a retirement policy applicable to all employees receiving equity as part of their compensation plan. This policy was effective January 1, 2019. Historically, all unvested outstanding equity awards were forfeited upon termination of employment and any options that were vested but unexercised would be forfeited 90 days after the termination of employment. The new retirement policy allows employees that meet certain conditions to vest or continue vesting in outstanding equity awards following retirement and extends the time the employee has to exercise vested and outstanding awards. As a result of this policy, stock compensation expense related to the adoption of the policy resulted in an acceleration of unrecognized stock compensation expense of approximately $ 11.2 million and $ 7.3 million in the first and second quarter of 2019, respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Taxes [Abstract]
Income Taxes	13. INCOME TAXES The primary reasons for the difference between the Company’s effective tax rate and the U.S. statutory rate are the Company’s REIT election and the Company’s full valuation allowance on the net deferred tax assets of the U.S. taxable REIT subsidiary (“TRS”). The Company has concluded that it is not more likely than not that its deferred tax assets will be realized and has recorded a full valuation allowance. A foreign tax provision is recognized because certain foreign subsidiaries of the Company have profitable operations or are in a net deferred tax liability position. The Company elected to be taxed as a REIT commencing with its taxable year ended December 31, 2016. As a REIT, the Company generally will be entitled to a deduction for dividends that it pays, and therefore, not subject to U.S. federal corporate income tax on that portion of its net income that it distributes to its shareholders. As a REIT, the Company will continue to pay U.S. federal income tax on earnings, if any, from assets and operations held through its TRSs. These assets and operations currently consist primarily of the Company’s site development services and its international operations. The Company’s international operations would continue to be subject, as applicable, to foreign taxes in the jurisdictions in which those operations are located. The Company may also be subject to a variety of taxes, including payroll taxes and state, local, and foreign income, property, and other taxes on its assets and operations. The Company’s determination as to the timing and amount of future dividend distributions will be based on a number of factors, including REIT distribution requirements, its existing federal net operating losses (“NOLs”) of approximately $ 755.4 million as of December 31, 2018, the Company’s financial condition, earnings, debt covenants, and other possible uses of such funds. The Company may use these NOLs to offset its REIT taxable income, and thus any required distributions to shareholders may be reduced or eliminated until such time as the NOLs have been fully utilized .

Segment Data

Segment Data	9 Months Ended
	Sep. 30, 2019
Segment Data [Abstract]
Segment Data	14. SEGMENT DATA The Company operates principally in two business segments: site leasing and site development. The Company’s site leasing business includes two reportable segments, domestic site leasing and international site leasing. The Company’s business 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. The Company’s Chief Operating Decision Maker utilizes segment operating profit and operating income as his two measures of segment profit in assessing performance and allocating resources at the reportable segment level. The Company has applied the aggregation criteria to operations within the international site leasing segment on a basis that is consistent with management’s review of information and performance evaluations of the individual markets in this region. 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. Domestic Site Int'l Site Site Leasing Leasing Development Other Total For the three months ended September 30, 2019 (in thousands) Revenues $ 374,705 $ 93,867 $ 38,975 $ — $ 507,547 Cost of revenues (2) 63,836 29,157 30,516 — 123,509 Operating profit 310,869 64,710 8,459 — 384,038 Selling, general, and administrative 21,840 8,626 4,183 7,623 42,272 Acquisition and new business initiatives related adjustments and expenses 2,717 1,975 — — 4,692 Asset impairment and decommission costs 6,027 2,213 — — 8,240 Depreciation, amortization and accretion 132,650 40,208 660 1,469 174,987 Operating income (loss) 147,635 11,688 3,616 ( 9,092 ) 153,847 Other expense (principally interest expense and other income (expense)) ( 135,083 ) ( 135,083 ) Income before income taxes 18,764 Cash capital expenditures (3) 67,951 101,776 357 1,060 171,144 For the three months ended September 30, 2018 Revenues $ 353,502 $ 81,758 $ 31,961 $ — $ 467,221 Cost of revenues (2) 66,862 25,432 24,447 — 116,741 Operating profit 286,640 56,326 7,514 — 350,480 Selling, general, and administrative 17,763 6,734 3,934 6,477 34,908 Acquisition and new business initiatives related adjustments and expenses 1,887 1,108 — — 2,995 Asset impairment and decommission costs 2,801 4,067 — — 6,868 Depreciation, amortization and accretion 129,246 36,310 646 1,501 167,703 Operating income (loss) 134,943 8,107 2,934 ( 7,978 ) 138,006 Other expense (principally interest expense and other income (expense)) ( 123,841 ) ( 123,841 ) Income before income taxes 14,165 Cash capital expenditures (3) 33,794 120,176 425 666 155,061 Domestic Site Int'l Site Site Leasing Leasing Development Other Total For the nine months ended September 30, 2019 (in thousands) Revenues $ 1,106,722 $ 273,036 $ 121,229 $ — $ 1,500,987 Cost of revenues (2) 194,525 84,642 92,606 — 371,773 Operating profit 912,197 188,394 28,623 — 1,129,214 Selling, general, and administrative 77,926 22,624 16,774 31,431 148,755 Acquisition and new business initiatives related adjustments and expenses 4,698 4,971 — — 9,669 Asset impairment and decommission costs 18,476 5,155 — — 23,631 Depreciation, amortization and accretion 394,308 117,197 1,900 4,185 517,590 Operating income (loss) 416,789 38,447 9,949 ( 35,616 ) 429,569 Other expense (principally interest expense and other income (expense)) ( 327,029 ) ( 327,029 ) Income before income taxes 102,540 Cash capital expenditures (3) 242,660 149,704 2,165 2,259 396,788 For the nine months ended September 30, 2018 Revenues $ 1,041,892 $ 253,794 $ 86,160 $ — $ 1,381,846 Cost of revenues (2) 199,633 79,167 67,693 — 346,493 Operating profit 842,259 174,627 18,467 — 1,035,353 Selling, general, and administrative 55,047 20,242 11,943 19,669 106,901 Acquisition and new business initiatives related adjustments and expenses 5,242 3,929 — — 9,171 Asset impairment and decommission costs 15,971 6,475 332 — 22,778 Depreciation, amortization and accretion 382,490 113,550 1,936 4,683 502,659 Operating income (loss) 383,509 30,431 4,256 ( 24,352 ) 393,844 Other expense (principally interest expense and other income (expense)) ( 415,191 ) ( 415,191 ) Loss before income taxes ( 21,347 ) Cash capital expenditures (3) 287,711 218,739 1,345 2,148 509,943 Domestic Site Int'l Site Site Leasing Leasing Development Other (1) Total Assets (in thousands) As of September 30, 2019 $ 6,261,128 $ 2,766,050 $ 79,773 $ 94,187 $ 9,201,138 As of December 31, 2018 $ 5,035,826 $ 2,042,800 $ 60,775 $ 74,306 $ 7,213,707 (1) Assets in Other consist primarily of general corporate assets. (2) Excludes depreciation, amortization, and accretion. (3) Includes cash paid for capital expenditures and acquisitions and financing leases. Other than Brazil, no foreign country represented a material amount of the Company’s total revenues in any of the periods presented. Site leasing revenue in Brazil was $ 168.6 million and $ 167.1 million for the nine months ended September 30, 2019 and 2018, respectively. Total long-lived assets in Brazil were $ 915.5 million and $ 1,031.6 million as of September 30, 2019 and December 31, 2018, respectively.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	15. EARNINGS PER SHARE Basic earnings per share was computed by dividing net income (loss) 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 (loss) attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding adjusted for any dilutive Common Stock equivalents, including unvested restricted stock and shares issuable upon exercise of stock options as determined under the “Treasury Stock” method. The following table sets forth basic and diluted net income (loss) per common share attributable to common shareholders for the three and nine months ended September 30, 2019 and 2018 (in thousands, except per share data): For the three months For the nine months ended September 30, ended September 30, 2019 2018 2019 2018 Numerator: Net income (loss) attributable to SBA Communications Corporation $ 21,679 $ 16,144 $ 79,640 $ ( 9,702 ) Denominator: Basic weighted-average shares outstanding 113,037 114,597 112,985 115,378 Dilutive impact of stock options and restricted shares 2,147 1,517 1,839 — Diluted weighted-average shares outstanding 115,184 116,114 114,824 115,378 Net income (loss) per common share attributable to SBA Communications Corporation: Basic $ 0.19 $ 0.14 $ 0.70 $ ( 0.08 ) Diluted $ 0.19 $ 0.14 $ 0.69 $ ( 0.08 ) For the three and nine months ended September 30, 2019, the diluted weighted average number of common shares outstanding excluded an additional 8,091 and 18,277 shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive. For the three months ended September 30, 2018, the diluted weighted average number of common shares outstanding excluded an additional 0.9 million shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive. For the nine months ended September 30, 2018, all potential common stock equivalents, including 5.2 million shares of stock options outstanding and 0.3 million shares of restricted stock units outstanding, were excluded as the effect would be anti-dilutive.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies [Abstract]
Commitments and Contingencies	16. COMMITMENTS AND CONTINGENCIES The Company is obligated under various non-cancelable operating leases for land, office space, equipment and site leases. In addition, the Company is obligated under various non-cancelable financing leases for vehicles. The annual minimum lease payments, including fixed rate escalations, as of September 30, 2019 are as follows (in thousands): Finance Leases Operating Leases The remainder of 2019 $ 348 $ 59,102 2020 924 237,623 2021 745 239,390 2022 529 240,539 2023 59 240,594 Thereafter — 3,086,003 Total minimum lease payments 2,605 4,103,251 Less: amount representing interest ( 145 ) ( 1,701,002 ) Present value of future payments 2,460 2,402,249 Less: current obligations ( 987 ) ( 229,210 ) Long-term obligations $ 1,473 $ 2,173,039 Tenant (Operating) Leases The annual minimum tower lease income to be received for tower space rental under non-cancelable operating leases, including fixed rate escalations, as of September 30, 2019 is as follows: (in thousands) The remainder of 2019 $ 426,237 2020 1,561,995 2021 1,320,941 2022 1,070,375 2023 865,317 Thereafter 2,259,217 Total $ 7,504,082

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interest	9 Months Ended
	Sep. 30, 2019
Redeemable Noncontrolling Interest [Abstract]
Redeemable Noncontrolling Interest	17. REDEEMABLE NONCONTROLLING INTEREST In August 2019, the Company acquired an additional interest of a previously unconsolidated joint venture in South Africa which operated under the name Atlas Tower South Africa (“Atlas SA”). As a result of the transaction, the Company has consolidated the results of the entity into its financial statements. The incremental investment is reflected within Acquisitions on the Consolidated Statement of Cash Flows. As of the acquisition date, the fair market value of the 6 % noncontrolling interest was $ 14.0 million. The fair value assigned to the redeemable noncontrolling interest is estimated using Level 3 inputs based on unobservable inputs. In connection with the acquisition of the additional interest in Atlas SA, the parties agreed to both a put option exercisable by the noncontrolling interest holder and a call option exercisable by the Company. The put option allows the noncontrolling interest holder to sell its 6 % noncontrolling interest to the Company for an amount to be determined using a formulaic approach . The call option allows the Company to purchase the remaining 6 % minority interest using the same formulaic approach. Both the put and call options can be exercised on or after August 30, 2020 . As the put option is outside of the Company’s control, the estimated redemption value of the minority interest is presented as a redeemable noncontrolling interest outside of permanent equity on the Consolidated Balance Sheets. The Company allocates income and losses to the noncontrolling interest holder based on the applicable membership interest percentage. At each reporting period, the redeemable noncontrolling interest is recognized at the higher of (1) the initial carrying amount of the noncontrolling interest as adjusted for accumulated income or loss attributable to the noncontrolling interest holder, or (2) the contractually-defined redemption value as of the balance sheet date. Adjustments to the carrying amount of redeemable noncontrolling interest are charged against retained earnings (or additional paid-in capital if there are no retained earnings). The components of the redeemable noncontrolling interest as of September 30, 2019 are as follows (in thousands): BALANCE, December 31, 2018 $ — Purchase of noncontrolling interest 13,990 Net income attributable to the noncontrolling interest 87 BALANCE, September 30, 2019 $ 14,077

Basis of Presentation (Policy)

Basis of Presentation (Policy)	9 Months Ended
	Sep. 30, 2019
Basis of Presentation [Abstract]
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, 2018 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 the 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 amounts, when known, may vary from these estimates.
Foreign Currency Translation	Foreign Currency Translation All assets and liabilities of foreign subsidiaries that do not utilize the U.S. dollar as its functional currency are translated at period-end exchange rates, while revenues and expenses are translated at monthly average exchange rates during the period. Unrealized remeasurement gains and losses are reported as foreign currency translation adjustments through Accumulated Other Comprehensive Loss in the Consolidated Statement of Shareholders’ Deficit. For foreign subsidiaries where the U.S. dollar is the functional currency, monetary assets and liabilities of such subsidiaries, which are not denominated in U.S. dollars, are remeasured at exchange rates in effect at the balance sheet date, and revenues and expenses are remeasured at monthly average rates prevailing during the year. Unrealized translation gains and losses are reported as other income (expense), net in the Consolidated Statements of Operations.
Intercompany Loans Subject to Remeasurement	Intercompany Loans Subject to Remeasurement In accordance with Accounting Standards Codification (ASC) 830, the Company remeasures foreign denominated intercompany loans with the corresponding change in the balance being recorded in Other income (expense), net in the Consolidated Statement of Operations as settlement is anticipated or planned in the foreseeable future. The Company recorded a $ 21.0 million loss and a $ 17.1 million loss, net of taxes, on the remeasurement of intercompany loans for the three months ended September 30, 2019 and 2018, respectively, and a $ 16.3 million loss and a $ 74.7 million loss, net of taxes, on the remeasurement of intercompany loans for the nine months ended September 30, 2019 and 2018, respectively, due to changes in foreign exchange rates. As of September 30, 2019 and December 31, 2018, the aggregate amount outstanding under the intercompany loan agreements with the Company’s Brazilian subsidiary was $ 434.8 million and $ 536.9 million, respectively. As of September 30, 2019, the aggregate amount outstanding under the intercompany loan agreement with the Company’s South African subsidiary was $ 58.9 million.
Leases	Leases The Company adopted ASU No. 2016-02, Leases (“Topic 842”) using the modified retrospective adoption method with an effective date of January 1, 2019. The consolidated financial statements for 2019 are presented under the new standard, while the comparative periods presented are not adjusted and continue to be reported in accordance with the Company's historical accounting policy. This standard requires all lessees to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments. The Company has elected not to separate nonlease components from the associated lease component for all underlying classes of assets. The adoption of the new lease standard had a significant impact on the Company’s Consolidated Balance Sheets resulting in the recognition of $ 2.6 billion of right-of-use assets, net, $ 226.0 million of current lease liabilities, and $ 2.3 billion of long-term lease liabilities. The right-of-use assets included $ 266.3 million of rent prepayments and financing lease right-of-use assets, net which were previously reported in Prepaid expenses and other current assets, Other assets, and Property, Plant and Equipment, net on the Consolidated Balance Sheets. In addition, the Company recognized a $ 21.0 million cumulative effect adjustment, net of tax, to Accumulated deficit on the Consolidated Balance Sheet related to the unamortized deferred lease costs incurred in prior periods which do not meet the definition of initial direct costs under Topic 842. The adoption of Topic 842 did not have a significant impact on the Company’s lease classification or a material impact on its Consolidated Statements of Operations and liquidity. Additionally, the adoption of Topic 842 did not have a material impact on the Company’s debt covenant compliance under its current agreements. The components of the right-of-use assets and lease liabilities as of September 30, 2019 are as follows (in thousands): Operating lease right-of-use assets, net $ 2,446,640 Financing lease right-of-use assets, net 3,293 Right-of-use assets, net $ 2,449,933 Current operating lease liabilities $ 229,210 Current financing lease liabilities 987 Current lease liabilities $ 230,197 Long-term operating lease liabilities $ 2,173,039 Long-term financing lease liabilities 1,473 Long-term lease liabilities $ 2,174,512 Operating Leases Ground leases. The Company enters into long-term lease contracts for land that underlies its tower structures. Ground lease agreements generally include renewal options which can be exercised exclusively at the Company’s election. In making the determination of the period for which the Company is reasonably certain to remain on the site, the Company will assume optional renewals are reasonably certain of being exercised for the greater of: (1) a period sufficient to cover all tenants under their current committed term where the Company has provided rights to the tower not to exceed the contractual ground lease terms including renewals, and (2) a period sufficient to recover the investment of significant leasehold improvements located on the site. Substantially all leases provide for rent rate escalations. The most common provisions provide for fixed rent escalators which typically average 2 - 3 % annually. The Company also has ground leases that include consumer price index escalators, particularly in its South American operations. Increases or decreases in lease payments that result from subsequent changes in the index or rate are accounted for as variable lease payments. Office leases. The Company’s office leases consist of long-term leases for international, regional, and certain site development office locations. Office leases include a single lease component, lease of the office space and sometimes nonlease components such as common area maintenance expenses. The lease term for office leases are generally considered to be the contractually committed term. Finance Leases Vehicle leases. The Company leases vehicles that are used in its site development business. These leases are accounted for as financing leases and have lease terms that are contractually committed and do not include optional renewal terms. Discount Rate When available, the Company uses the rate implicit in the lease to discount lease payments to present value. However, the Company’s ground leases generally do not provide a readily determinable implicit rate. Therefore, the Company estimates the incremental borrowing rate to discount lease payments based on information available at lease commencement or upon a modification. The Company uses publicly available data for instruments with similar characteristics when calculating its incremental borrowing rates. Lease Cost Variable lease payments include escalations based on standard cost of living indexes and are initially recognized using the prevailing index at the date of initial measurement or upon reassessment of the lease term. Subsequent changes in standard cost of living increases are recognized as variable lease costs. Variable lease payments also include contingent rent provisions. The components of lease cost, lease term, and discount rate as of September 30, 2019 are as follows: For the three months For the nine months ended September 30, 2019 ended September 30, 2019 (in thousands) Amortization of right-of-use assets $ 296 $ 917 Interest on finance lease liabilities 28 82 Total finance lease cost 324 999 Operating lease cost (1) 66,059 200,881 Variable lease cost (1) 10,190 27,356 Total lease cost $ 76,573 $ 229,236 Weighted Average Remaining Lease Term as of September 30, 2019 Operating leases 17 years Finance leases 3 years Weighted Average Discount Rate as of September 30, 2019 Operating leases 6.1 % Finance leases 3.9 % For the nine months Other information: ended September 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Cash flows from operating leases $ 177,960 Cash flows from finance leases $ 917 (1) For the three and nine months ended September 30, 2018, operating lease costs were $ 67.7 million and $ 205.3 million, respectively. For the three and nine months ended September 30, 2018, variable lease costs were $ 6.8 million and $ 20.3 million, respectively. Tenant (Operating) Leases The Company enters into long-term lease contracts with wireless service providers to lease antenna space on towers that it owns or operates. Each tenant lease relates to the lease or use of space at an individual site. Tenant leases are generally for an initial term of 5 to ten year s with multiple 5 year renewal periods at the option of the tenant. Tenant leases typically contain specific rent escalators, which can be fixed or escalate in accordance with a standard cost of living index, including the renewal option periods. Tenant lease agreements generally include renewal options which can be exercised exclusively at the tenant’s election. The only common exception is if the Company no longer has a right to the ground underlying the site, the lease agreements permit the Company to terminate the lease. Despite high frequency of renewal of options to extend the lease by its tenants, the Company has concluded that the exercise of a renewal option by a tenant is not reasonably certain of occurrence; therefore, only the current committed term is included in the determination of the lease term. Certain tenant leases provide for a reimbursement of costs incurred by the Company. The Company pays these costs directly and is not relieved of the primary obligation for the expenses. These reimbursements are recorded as revenue on the Statements of Operations. Deferred Lease Costs Prior to the adoption of ASU 2016-02, the Company deferred certain initial direct costs associated with the origination of tenant leases and lease amendments and amortized these costs over the remaining lease term. These costs included an allocation of a portion of the employees’ total compensation and payroll related benefits related to time spent performing those activities. Such deferred costs were approximately $ 2.8 million and $ 8.8 million for the three and nine months ended September 30, 2018. Amortization expense related to these deferred costs was $ 3.2 million and $ 9.3 million for the three and nine months ended September 30, 2018 and is included in cost of site leasing on the Consolidated Statements of Operations. As of December 31, 2018, unamortized deferred lease costs were $ 27.0 million. ASU 2016-02, defines initial direct costs as incremental costs that would not have been incurred if the lease had not been obtained. These costs, including commissions paid related to the origination of specific tenant leases, will continue to be deferred and amortized over the remaining lease term. Upon adoption, the Company recognized a $ 21.0 million cumulative effect adjustment, net of tax, to Accumulated deficit on the Consolidated Balance Sheets. This adjustment reflects the recognition of unamortized deferred lease costs incurred in prior periods which do not meet the definition of initial direct costs under Topic 842. Initial direct costs were approximately $ 0.4 million and $ 1.6 million for the three and nine months ended September 30, 2019. Amortization expense related to deferred initial direct costs was $ 0.4 million and $ 1.1 million for the three and nine months ended September 30, 2019. As of September 30, 2019, unamortized deferred initial direct costs were $ 4.3 million and were included in other assets on the Consolidated Balance Sheets.

Basis of Presentation (Tables)

Basis of Presentation (Tables)	9 Months Ended
	Sep. 30, 2019
Basis of Presentation [Abstract]
Schedule of Right-of-use Assets and Liabilities	Operating lease right-of-use assets, net $ 2,446,640 Financing lease right-of-use assets, net 3,293 Right-of-use assets, net $ 2,449,933 Current operating lease liabilities $ 229,210 Current financing lease liabilities 987 Current lease liabilities $ 230,197 Long-term operating lease liabilities $ 2,173,039 Long-term financing lease liabilities 1,473 Long-term lease liabilities $ 2,174,512
Components of Lease Cost, Lease Term, and Discount Rate	For the three months For the nine months ended September 30, 2019 ended September 30, 2019 (in thousands) Amortization of right-of-use assets $ 296 $ 917 Interest on finance lease liabilities 28 82 Total finance lease cost 324 999 Operating lease cost (1) 66,059 200,881 Variable lease cost (1) 10,190 27,356 Total lease cost $ 76,573 $ 229,236 Weighted Average Remaining Lease Term as of September 30, 2019 Operating leases 17 years Finance leases 3 years Weighted Average Discount Rate as of September 30, 2019 Operating leases 6.1 % Finance leases 3.9 % For the nine months Other information: ended September 30, 2019 Cash paid for amounts included in measurement of lease liabilities: Cash flows from operating leases $ 177,960 Cash flows from finance leases $ 917 (1) For the three and nine months ended September 30, 2018, operating lease costs were $ 67.7 million and $ 205.3 million, respectively. For the three and nine months ended September 30, 2018, variable lease costs were $ 6.8 million and $ 20.3 million, respectively.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Measurements [Abstract]
Summary of Asset Impairment and Decommission Costs	For the three months For the nine months ended September 30, ended September 30, 2019 2018 2019 2018 Asset impairment (1) $ 5,742 $ 2,909 $ 13,326 $ 13,291 Write-off of carrying value of decommissioned towers 2,241 3,561 9,405 7,932 Other (including third party decommission costs) 257 398 900 1,555 Total asset impairment and decommission costs $ 8,240 $ 6,868 $ 23,631 $ 22,778 (1) Represents impairment charges resulting from the Company’s regular analysis of whether the future cash flows from certain towers are adequate to recover the carrying value of the investment in those towers.

Restricted Cash (Tables)

Restricted Cash (Tables)	9 Months Ended
	Sep. 30, 2019
Restricted Cash [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	As of As of September 30, 2019 December 31, 2018 Included on Balance Sheet (in thousands) Cash and cash equivalents $ 128,778 $ 143,444 Securitization escrow accounts 27,309 32,260 Restricted cash - current asset Payment and performance bonds 193 204 Restricted cash - current asset Surety bonds and workers compensation 2,400 2,392 Other assets - noncurrent Total cash, cash equivalents, and restricted cash $ 158,680 $ 178,300

Costs and Estimated Earnings _2

Costs and Estimated Earnings on Uncompleted Contracts (Tables)	9 Months Ended
	Sep. 30, 2019
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Summary of Costs and Estimated Earnings on Uncompleted Contracts	As of As of September 30, 2019 December 31, 2018 (in thousands) Costs incurred on uncompleted contracts $ 51,291 $ 38,464 Estimated earnings 19,191 16,655 Billings to date ( 43,403 ) ( 31,952 ) $ 27,079 $ 23,167
Costs and Estimated Earnings on Uncompleted Contracts Accompanying Consolidated Balance Sheets	As of As of September 30, 2019 December 31, 2018 (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 28,303 $ 23,785 Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities) ( 1,224 ) ( 618 ) $ 27,079 $ 23,167

Acquisitions (Tables)

Acquisitions (Tables)	9 Months Ended
	Sep. 30, 2019
Acquisitions [Abstract]
Schedule of Acquisition Capital Expenditures	For the three months For the nine months ended September 30, ended September 30, 2019 2018 2019 2018 (in thousands) Acquisitions of towers and related intangible assets (1) (2) $ 99,173 $ 110,464 $ 224,585 $ 372,054 Land buyouts and other assets (3) 33,346 8,008 59,116 31,781 Total cash acquisition capital expenditures $ 132,519 $ 118,472 $ 283,701 $ 403,835 (1) The nine months ended September 30, 2019 excludes $ 1.7 million of acquisition costs funded through the issuance of 10,000 shares of Class A common stock. (2) On August 30, 2019, the Company acquired an additional interest of a previously unconsolidated joint venture in South Africa which resulted in the consolidation of the entity. The cash consideration is included herein. Furthermore, the three and nine months ended September 30, 2019 excludes $ 72.0 million associated with the consolidation of this entity. (3) In addition, the Company paid $ 7.0 million and $ 6.7 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended September 30, 2019 and 2018, respectively, and paid $ 13.1 million and $ 16.4 million for ground lease extensions and term easements on land underlying the Company’s towers during the nine months ended September 30, 2019 and 2018, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets.

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets and Other Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Schedule of Prepaid Expense and Other Current Assets	As of As of September 30, 2019 December 31, 2018 (in thousands) Prepaid ground rent (1) $ 1,497 $ 34,276 Loan receivables — 11,178 Marketable Securities 656 239 Prepaid real estate taxes 4,193 2,998 Other 15,600 14,435 Total prepaid expenses and other current assets $ 21,946 $ 63,126 (1) Prepaid ground rent related to non-contingent rent provisions was reclassified to Right-of-use assets, net on the Consolidated Balance Sheets in the first quarter of 2019 due to the adoption of ASU 2016-02.
Schedule of Other Assets	As of As of September 30, 2019 December 31, 2018 (in thousands) Prepaid ground rent (1) $ — $ 263,694 Straight-line rent receivable 326,220 322,073 Loan receivables 8,767 49,255 Deferred lease costs, net (1) 4,342 27,020 Deferred tax asset - long term 16,981 18,330 Other 40,701 41,661 Total other assets $ 397,011 $ 722,033 (1) Prepaid ground rent was reclassified from Other assets to Right-of-use assets, net on the Consolidated Balance Sheets in the first quarter of 2019 and deferred lease costs of $ 23.3 million were written off to Accumulated deficit on the Consolidated Balance Sheets in the first quarter of 2019 due to the adoption of ASU 2016-02.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	9 Months Ended
	Sep. 30, 2019
Property and Equipment, Net [Abstract]
Schedule of Property and Equipment, Net	As of As of September 30, 2019 December 31, 2018 (in thousands) Towers and related components $ 5,069,473 $ 4,951,321 Construction-in-process (1) 36,814 35,756 Furniture, equipment, and vehicles (2) 49,677 54,814 Land, buildings, and improvements 724,361 668,459 Total property and equipment 5,880,325 5,710,350 Less: accumulated depreciation (2) ( 3,117,270 ) ( 2,923,995 ) Property and equipment, net $ 2,763,055 $ 2,786,355 (1) Construction-in-process represents costs incurred related to towers that are under development and will be used in the Company’s site leasing operations. (2) Financing lease right-of-use assets are included in the prior period but are included in Right-of-use assets, net on the Consolidated Balance Sheets for the current period.

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2019
Intangible Assets, Net [Abstract]
Gross and Net Carrying Amounts for each Major Class of Intangible Assets	As of September 30, 2019 As of December 31, 2018 Gross carrying Accumulated Net book Gross carrying Accumulated Net book amount amortization value amount amortization value (in thousands) Current contract intangibles $ 4,564,516 $ ( 2,130,479 ) $ 2,434,037 $ 4,394,416 $ ( 1,928,030 ) $ 2,466,386 Network location intangibles 1,713,590 ( 885,742 ) 827,848 1,669,859 ( 804,780 ) 865,079 Intangible assets, net $ 6,278,106 $ ( 3,016,221 ) $ 3,261,885 $ 6,064,275 $ ( 2,732,810 ) $ 3,331,465

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2019
Accrued Expenses [Abstract]
Schedule of Accrued Expenses	As of As of September 30, 2019 December 31, 2018 (in thousands) Salaries and benefits $ 14,864 $ 16,015 Real estate and property taxes 10,474 7,928 Unpaid capital expenditures 11,781 12,387 Other 26,032 27,335 Total accrued expenses $ 63,151 $ 63,665

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt [Abstract]
Schedule of Principal Values, Fair Values, and Carrying Values of Debt	As of As of September 30, 2019 December 31, 2018 Maturity Date Principal Balance Fair Value Carrying Value Principal Balance Fair Value Carrying Value 2014 Senior Notes Jul. 15, 2022 $ 750,000 $ 757,500 $ 742,993 $ 750,000 $ 735,000 $ 741,273 2016 Senior Notes Sep. 1, 2024 1,100,000 1,141,250 1,085,591 1,100,000 1,034,000 1,083,689 2017 Senior Notes Oct. 1, 2022 750,000 763,125 744,392 750,000 712,500 743,099 2013-2C Tower Securities Apr. 11, 2023 575,000 589,410 570,574 575,000 569,164 569,715 2014-1C Tower Securities Oct. 8, 2019 — — — 920,000 914,241 917,728 2014-2C Tower Securities Oct. 8, 2024 620,000 650,175 614,979 620,000 609,665 614,315 2015-1C Tower Securities Oct. 8, 2020 500,000 502,500 497,493 500,000 496,640 495,737 2016-1C Tower Securities Jul. 9, 2021 700,000 705,236 696,445 700,000 691,432 694,994 2017-1C Tower Securities Apr. 11, 2022 760,000 766,300 754,546 760,000 744,496 753,028 2018-1C Tower Securities Mar. 9, 2023 640,000 662,586 633,928 640,000 641,478 632,725 2019-1C Tower Securities Jan. 12, 2025 1,165,000 1,165,501 1,153,140 — — — Revolving Credit Facility Apr. 11, 2023 — — — 325,000 325,000 325,000 2018 Term Loan Apr. 11, 2025 2,370,000 2,372,963 2,351,421 2,388,000 2,262,630 2,367,250 Total debt $ 9,930,000 $ 10,076,546 $ 9,845,502 $ 10,028,000 $ 9,736,246 $ 9,938,553 Less: current maturities of long-term debt ( 24,000 ) ( 941,728 ) Total long-term debt, net of current maturities $ 9,821,502 $ 8,996,825
Schedule of Cash and Non-Cash Interest Expense	For the three months ended September 30, For the nine months ended September 30, 2019 2018 2019 2018 Cash Non-cash Cash Non-cash Cash Non-cash Cash Non-cash Interest Interest Interest Interest Interest Interest Interest Interest (in thousands) 2014 Senior Notes $ 9,141 $ 201 $ 9,141 $ 191 $ 27,422 $ 596 $ 27,422 $ 567 2016 Senior Notes 13,406 265 13,406 252 40,219 786 40,219 748 2017 Senior Notes 7,500 — 7,500 — 22,500 — 22,500 — 2013 Tower Securities 5,396 — 5,396 — 16,188 — 20,267 — 2014 Tower Securities 11,439 — 12,785 — 37,009 — 38,354 — 2015-1C Tower Securities 3,985 — 3,985 — 11,954 — 11,954 — 2016-1C Tower Securities 5,090 — 5,090 — 15,271 — 15,271 — 2017-1C Tower Securities 6,096 — 6,096 — 18,269 — 18,268 — 2018-1C Tower Securities 5,570 — 5,570 — 16,711 — 12,502 — 2019-1C Tower Securities 1,671 — — — 1,671 — — — Revolving Credit Facility 1,009 — 1,721 — 5,409 — 4,911 — 2014 Term Loan — — — — — — 15,550 146 2015 Term Loan — — — — — — 5,237 187 2018 Term Loan 26,243 196 25,096 189 79,959 572 46,303 354 Other 21 — ( 69 ) — 99 — ( 480 ) — Total $ 96,567 $ 662 $ 95,717 $ 632 $ 292,681 $ 1,954 $ 278,278 $ 2,002

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2019
Stock-Based Compensation [Abstract]
Schedule of Assumptions Used to Estimate Fair Value of Stock Options	For the nine months ended September 30, 2019 2018 Risk free interest rate 1.37 % - 2.47 % 2.57 % - 2.87 % Dividend yield 1.3 % 0.7 % Expected volatility 20 % 22 % Expected lives 4.6 years 4.6 years
Summary of Stock Option Activity	Weighted- Weighted-Average Average Remaining Number Exercise Price Contractual Aggregate of Shares Per Share Life (in years) Intrinsic Value Outstanding at December 31, 2018 4,816 $ 114.48 Granted 1,068 $ 183.41 Exercised ( 1,290 ) $ 103.43 Forfeited/canceled ( 56 ) $ 139.03 Outstanding at September 30, 2019 4,538 $ 133.55 4.4 $ 488,143 Exercisable at September 30, 2019 1,939 $ 109.35 3.0 $ 255,552 Unvested at September 30, 2019 2,599 $ 151.62 5.4 $ 232,591
Summary of Restricted Stock Unit Activity	Weighted-Average Number of Grant Date Fair Shares Value per Share (in thousands) Outstanding at December 31, 2018 324 $ 128.69 Granted 134 $ 185.31 Vested ( 130 ) $ 125.71 Forfeited/canceled ( 11 ) $ 150.07 Outstanding at September 30, 2019 317 $ 153.20

Segment Data (Tables)

Segment Data (Tables)	9 Months Ended
	Sep. 30, 2019
Segment Data [Abstract]
Schedule of Segment Reporting Information	Domestic Site Int'l Site Site Leasing Leasing Development Other Total For the three months ended September 30, 2019 (in thousands) Revenues $ 374,705 $ 93,867 $ 38,975 $ — $ 507,547 Cost of revenues (2) 63,836 29,157 30,516 — 123,509 Operating profit 310,869 64,710 8,459 — 384,038 Selling, general, and administrative 21,840 8,626 4,183 7,623 42,272 Acquisition and new business initiatives related adjustments and expenses 2,717 1,975 — — 4,692 Asset impairment and decommission costs 6,027 2,213 — — 8,240 Depreciation, amortization and accretion 132,650 40,208 660 1,469 174,987 Operating income (loss) 147,635 11,688 3,616 ( 9,092 ) 153,847 Other expense (principally interest expense and other income (expense)) ( 135,083 ) ( 135,083 ) Income before income taxes 18,764 Cash capital expenditures (3) 67,951 101,776 357 1,060 171,144 For the three months ended September 30, 2018 Revenues $ 353,502 $ 81,758 $ 31,961 $ — $ 467,221 Cost of revenues (2) 66,862 25,432 24,447 — 116,741 Operating profit 286,640 56,326 7,514 — 350,480 Selling, general, and administrative 17,763 6,734 3,934 6,477 34,908 Acquisition and new business initiatives related adjustments and expenses 1,887 1,108 — — 2,995 Asset impairment and decommission costs 2,801 4,067 — — 6,868 Depreciation, amortization and accretion 129,246 36,310 646 1,501 167,703 Operating income (loss) 134,943 8,107 2,934 ( 7,978 ) 138,006 Other expense (principally interest expense and other income (expense)) ( 123,841 ) ( 123,841 ) Income before income taxes 14,165 Cash capital expenditures (3) 33,794 120,176 425 666 155,061 Domestic Site Int'l Site Site Leasing Leasing Development Other Total For the nine months ended September 30, 2019 (in thousands) Revenues $ 1,106,722 $ 273,036 $ 121,229 $ — $ 1,500,987 Cost of revenues (2) 194,525 84,642 92,606 — 371,773 Operating profit 912,197 188,394 28,623 — 1,129,214 Selling, general, and administrative 77,926 22,624 16,774 31,431 148,755 Acquisition and new business initiatives related adjustments and expenses 4,698 4,971 — — 9,669 Asset impairment and decommission costs 18,476 5,155 — — 23,631 Depreciation, amortization and accretion 394,308 117,197 1,900 4,185 517,590 Operating income (loss) 416,789 38,447 9,949 ( 35,616 ) 429,569 Other expense (principally interest expense and other income (expense)) ( 327,029 ) ( 327,029 ) Income before income taxes 102,540 Cash capital expenditures (3) 242,660 149,704 2,165 2,259 396,788 For the nine months ended September 30, 2018 Revenues $ 1,041,892 $ 253,794 $ 86,160 $ — $ 1,381,846 Cost of revenues (2) 199,633 79,167 67,693 — 346,493 Operating profit 842,259 174,627 18,467 — 1,035,353 Selling, general, and administrative 55,047 20,242 11,943 19,669 106,901 Acquisition and new business initiatives related adjustments and expenses 5,242 3,929 — — 9,171 Asset impairment and decommission costs 15,971 6,475 332 — 22,778 Depreciation, amortization and accretion 382,490 113,550 1,936 4,683 502,659 Operating income (loss) 383,509 30,431 4,256 ( 24,352 ) 393,844 Other expense (principally interest expense and other income (expense)) ( 415,191 ) ( 415,191 ) Loss before income taxes ( 21,347 ) Cash capital expenditures (3) 287,711 218,739 1,345 2,148 509,943 Domestic Site Int'l Site Site Leasing Leasing Development Other (1) Total Assets (in thousands) As of September 30, 2019 $ 6,261,128 $ 2,766,050 $ 79,773 $ 94,187 $ 9,201,138 As of December 31, 2018 $ 5,035,826 $ 2,042,800 $ 60,775 $ 74,306 $ 7,213,707 (1) Assets in Other consist primarily of general corporate assets. (2) Excludes depreciation, amortization, and accretion. (3) Includes cash paid for capital expenditures and acquisitions and financing leases.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
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, 2019 2018 2019 2018 Numerator: Net income (loss) attributable to SBA Communications Corporation $ 21,679 $ 16,144 $ 79,640 $ ( 9,702 ) Denominator: Basic weighted-average shares outstanding 113,037 114,597 112,985 115,378 Dilutive impact of stock options and restricted shares 2,147 1,517 1,839 — Diluted weighted-average shares outstanding 115,184 116,114 114,824 115,378 Net income (loss) per common share attributable to SBA Communications Corporation: Basic $ 0.19 $ 0.14 $ 0.70 $ ( 0.08 ) Diluted $ 0.19 $ 0.14 $ 0.69 $ ( 0.08 )

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies [Abstract]
Annual Minimum Lease Payments	Finance Leases Operating Leases The remainder of 2019 $ 348 $ 59,102 2020 924 237,623 2021 745 239,390 2022 529 240,539 2023 59 240,594 Thereafter — 3,086,003 Total minimum lease payments 2,605 4,103,251 Less: amount representing interest ( 145 ) ( 1,701,002 ) Present value of future payments 2,460 2,402,249 Less: current obligations ( 987 ) ( 229,210 ) Long-term obligations $ 1,473 $ 2,173,039
Annual Minimum Lease Income	(in thousands) The remainder of 2019 $ 426,237 2020 1,561,995 2021 1,320,941 2022 1,070,375 2023 865,317 Thereafter 2,259,217 Total $ 7,504,082

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2019
Redeemable Noncontrolling Interest [Abstract]
Components of Redeemable Noncontrolling Interest	BALANCE, December 31, 2018 $ — Purchase of noncontrolling interest 13,990 Net income attributable to the noncontrolling interest 87 BALANCE, September 30, 2019 $ 14,077

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2019		Sep. 30, 2018	Sep. 30, 2019		Sep. 30, 2018	Mar. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Basis Of Presentation [Line Items]
Gain (loss) on remeasurement of U.S. dollar denominated intercompany loan, net of tax	$ 21,000		$ (17,100)	$ 16,300		$ (74,700)
Right-of-use assets, net	2,449,933	[1]		2,449,933	[1]			$ 2,600,000
Current lease liabilities	230,197	[1]		230,197	[1]			226,000
Long-term lease liabilities	$ 2,174,512	[1]		$ 2,174,512	[1]			2,300,000
Rent prepayments and financing lease right-of-use assets included in right-of-use assets								266,300
Cumulative effect of adoption							$ (20,968)	$ (21,000)
Tenant leases, renewal term	5 years			5 years
Deferred lease costs	$ 400		2,800	$ 1,600		8,800
Amortization expense	400		$ 3,200	1,100		$ 9,300
Unamortized deferred lease costs	4,300			4,300					$ 27,000
Brazilian Subsidiary [Member]
Basis Of Presentation [Line Items]
Intercompany foreign currency outstanding balance	434,800			434,800					$ 536,900
South African Subsidiary [Member]
Basis Of Presentation [Line Items]
Intercompany foreign currency outstanding balance	$ 58,900			$ 58,900
Minimum [Member]
Basis Of Presentation [Line Items]
Lease term	5 years			5 years
Fixed rent escalation				2.00%
Tenant leases, renewal term	5 years			5 years
Maximum [Member]
Basis Of Presentation [Line Items]
Lease term	10 years			10 years
Fixed rent escalation				3.00%
Tenant leases, renewal term	10 years			10 years
[1]	On January 1, 2019, the Company adopted ASU 2016-02 which requires lessees to recognize a right-of-use asset and a lease liability. Upon adoption, certain assets and liabilities were reclassified to Right-of-use assets, net and lease liabilities in accordance with provisions of ASU 2016-02. See Note 1 for further discussion.

Basis of Presentation (Schedule

Basis of Presentation (Schedule of Right-of-use Assets and Liabilities) (Details) - USD ($) $ in Thousands	Sep. 30, 2019		Jan. 01, 2019
Basis of Presentation [Abstract]
Operating lease right-of-use assets, net	$ 2,446,640
Financing lease right-of-use assets, net	3,293
Right-of-use assets, net	2,449,933	[1]	$ 2,600,000
Current operating lease liabilities	229,210
Current financing lease liabilities	987
Current lease liabilities	230,197	[1]	226,000
Long-term operating lease liabilities	2,173,039
Long-term financing lease liabilities	1,473
Long-term lease liabilities	$ 2,174,512	[1]	$ 2,300,000
[1]	On January 1, 2019, the Company adopted ASU 2016-02 which requires lessees to recognize a right-of-use asset and a lease liability. Upon adoption, certain assets and liabilities were reclassified to Right-of-use assets, net and lease liabilities in accordance with provisions of ASU 2016-02. See Note 1 for further discussion.

Basis of Presentation (Componen

Basis of Presentation (Components of Lease Cost, Lease Term, and Discount Rate) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Basis of Presentation [Abstract]
Amortization of right-of-use assets	$ 296		$ 917
Interest on finance lease liabilities	28		82
Total finance lease cost	324		999
Operating lease cost	66,059	$ 67,700	200,881	$ 205,300
Variable lease cost	10,190	$ 6,800	27,356	$ 20,300
Total lease cost	$ 76,573		$ 229,236
Weighted Average Remaining Lease Term: Operating leases	17 years		17 years
Weighted Average Remaining Lease Term: Finance leases	3 years		3 years
Weighted Average Discount Rate: Operating leases	6.10%		6.10%
Weighted Average Discount Rate: Finance leases	3.90%		3.90%
Cash paid for amounts included in measurement of lease liabilities: Cash flows from operating leases			$ 177,960
Cash paid for amounts included in measurement of lease liabilities: Cash flows from finance leases			$ 917

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	May 23, 2019	Feb. 01, 2019	Sep. 30, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Performance targets, maximum potential obligation			$ 28.9	$ 28.9		$ 14
Treasury securities			0.2	0.2		0.2
Held-to-maturity investments, carrying value			0.2	0.2		0.2
Held-to-maturity investments, fair value					$ 0.2	$ 0.2
Short-term investments			0.5	0.5
Purchase of short-term investments			235	$ 515
Sale of short-term investments			260
Revolving Credit Facility [Member] | Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable interest rate				1.125%
Revolving Credit Facility [Member] | Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Basis spread on variable interest rate				1.75%
2018 Term Loan [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loan period	4 years	4 years
Notional amount	$ 750	$ 1,200
Derivative basis spread on variable interest rate	2.00%	2.00%
Derivative fixed interest rate	4.08%	4.495%
Liability fair value of swaps			$ 62.4	$ 62.4

Fair Value Measurements (Summar

Fair Value Measurements (Summary of Asset Impairment and Decommission Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Asset impairment	$ 5,742	$ 2,909	$ 13,326	$ 13,291
Other (including third party decommission costs)	257	398	900	1,555
Total asset impairment and decommission costs	8,240	6,868	23,631	22,778
Decommissioned Towers [Member]
Write-off carrying value of decommissioned towers	$ 2,241	$ 3,561	$ 9,405	$ 7,932

Restricted Cash (Narrative) (De

Restricted Cash (Narrative) (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Restricted Cash And Cash Equivalents Items [Line Items]
Surety, payment and performance bonds	$ 41,400,000	$ 40,500,000
Collateral payment for performance bonds	0	0
Workers Compensation Policy [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Collateral	$ 2,300,000	$ 2,200,000

Restricted Cash (Schedule of Ca

Restricted Cash (Schedule of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018	Sep. 30, 2018	Dec. 31, 2017
Restricted Cash And Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 128,778	$ 143,444
Restricted cash - current asset	27,502	32,464
Total cash, cash equivalents, and restricted cash	158,680	178,300	$ 163,324	$ 104,295
Securitization Escrow Accounts [Member] | Restricted Cash - Current Asset [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - current asset	27,309	32,260
Payment and Performance Bonds [Member] | Restricted Cash - Current Asset [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - current asset	193	204
Surety Bonds and Workers Compensation [Member] | Other Assets - Noncurrent [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - noncurrent asset	$ 2,400	$ 2,392

Costs and Estimated Earnings _3

Costs and Estimated Earnings on Uncompleted Contracts (Narrative) (Details) - customer	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
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	96.50%	96.30%
Number of significant customers	8	8

Costs and Estimated Earnings _4

Costs and Estimated Earnings on Uncompleted Contracts (Summary of Costs and Estimated Earnings on Uncompleted Contracts) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Costs incurred on uncompleted contracts	$ 51,291	$ 38,464
Estimated earnings	19,191	16,655
Billings to date	(43,403)	(31,952)
Costs and estimated earnings on uncompleted contracts	$ 27,079	$ 23,167

Costs and Estimated Earnings _5

Costs and Estimated Earnings on Uncompleted Contracts (Costs and Estimated Earnings on Uncompleted Contracts Accompanying Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts	$ 28,303	$ 23,785
Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities)	(1,224)	(618)
Costs and estimated earnings on uncompleted contracts	$ 27,079	$ 23,167

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Millions	1 Months Ended	3 Months Ended	9 Months Ended
	Oct. 31, 2019USD ($)item	Mar. 31, 2019USD ($)	Sep. 30, 2019USD ($)entityitem
Business Acquisition [Line Items]
Acquisition costs paid through the issuance of common stock			$ 1.7
Other Acquisitions [Member]
Business Acquisition [Line Items]
Number of towers acquired | item			1,103
Property and equipment			$ 51.3
Intangible assets			286.7
Working capital adjustments			$ 41.4
Business Combination [Member]
Business Acquisition [Line Items]
Number of businesses acquired | entity			1
Consideration transferred		$ 3
Acquisition costs paid through the issuance of common stock		$ 1.7
Subsequent Event [Member]
Business Acquisition [Line Items]
Number of towers acquired | item	6
Cash paid for acquisition	$ 6.7

Acquisitions (Schedule of Acqui

Acquisitions (Schedule of Acquisition Capital Expenditures) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Business Acquisition [Line Items]
Acquisitions of towers and related intangible assets	$ 99,173	$ 110,464	$ 224,585	$ 372,054
Land buyouts and other assets	33,346	8,008	59,116	31,781
Total cash acquisition capital expenditures	132,519	118,472	283,701	403,835
Acquisition costs paid through the issuance of common stock			$ 1,700
Common stock issued for acquisition costs			10,000
Ground lease extensions	7,000	$ 6,700	$ 13,100	$ 16,400
Additional Interest in Unconsolidated Joint Venture [Member]
Business Acquisition [Line Items]
Consideration transferred	$ 72,000		$ 72,000

Prepaid Expenses and Other Cu_3

Prepaid Expenses and Other Current Assets and Other Assets (Schedule of Prepaid Expense and Other Current Assets) (Details) - USD ($) $ in Thousands		Sep. 30, 2019	Dec. 31, 2018
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Prepaid ground rent		$ 1,497	$ 34,276
Loan receivables			11,178
Marketable Securities		656	239
Prepaid real estate taxes		4,193	2,998
Other		15,600	14,435
Total prepaid expenses and other current assets	[1]	$ 21,946	$ 63,126
[1]	On January 1, 2019, the Company adopted ASU 2016-02 which requires lessees to recognize a right-of-use asset and a lease liability. Upon adoption, certain assets and liabilities were reclassified to Right-of-use assets, net and lease liabilities in accordance with provisions of ASU 2016-02. See Note 1 for further discussion.

Prepaid Expenses and Other Cu_4

Prepaid Expenses and Other Current Assets and Other Assets (Schedule Of Other Assets) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Prepaid ground rent				$ 263,694
Straight-line rent receivable			$ 326,220	322,073
Loan receivables			8,767	49,255
Deferred lease costs, net			4,342	27,020
Deferred tax asset - long term			16,981	18,330
Other			40,701	41,661
Total other assets	[1]		$ 397,011	$ 722,033
Write-off of deferred lease costs		$ 23,300
[1]	On January 1, 2019, the Company adopted ASU 2016-02 which requires lessees to recognize a right-of-use asset and a lease liability. Upon adoption, certain assets and liabilities were reclassified to Right-of-use assets, net and lease liabilities in accordance with provisions of ASU 2016-02. See Note 1 for further discussion.

Property and Equipment, Net (Na

Property and Equipment, Net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Property and Equipment, Net [Abstract]
Depreciation expense	$ 71,400	$ 67,500	$ 210,100	$ 200,600
Unpaid capital expenditures	$ 11,781		$ 11,781		$ 12,387

Property and Equipment, Net (Sc

Property and Equipment, Net (Schedule of Property and Equipment, Net) (Details) - USD ($) $ in Thousands		Sep. 30, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Total property and equipment		$ 5,880,325	$ 5,710,350
Less: accumulated depreciation		(3,117,270)	(2,923,995)
Property and equipment, net	[1]	2,763,055	2,786,355
Towers and Related Components [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment		5,069,473	4,951,321
Construction-In-Process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment		36,814	35,756
Furniture, Equipment and Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment		49,677	54,814
Land, Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment		$ 724,361	$ 668,459
[1]	On January 1, 2019, the Company adopted ASU 2016-02 which requires lessees to recognize a right-of-use asset and a lease liability. Upon adoption, certain assets and liabilities were reclassified to Right-of-use assets, net and lease liabilities in accordance with provisions of ASU 2016-02. See Note 1 for further discussion.

Intangible Assets, Net (Narrati

Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Intangible Assets, Net [Abstract]
Amortization expense	$ 103.5	$ 100.1	$ 307.3	$ 301.7

Intangible Assets, Net (Gross a

Intangible Assets, Net (Gross and Net Carrying Amounts for each Major Class of Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 6,278,106	$ 6,064,275
Accumulated amortization	(3,016,221)	(2,732,810)
Net book value	3,261,885	3,331,465
Current Contract Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	4,564,516	4,394,416
Accumulated amortization	(2,130,479)	(1,928,030)
Net book value	2,434,037	2,466,386
Network Location Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,713,590	1,669,859
Accumulated amortization	(885,742)	(804,780)
Net book value	$ 827,848	$ 865,079

Accrued Expenses (Schedule of A

Accrued Expenses (Schedule of Accrued Expenses) (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Accrued Expenses [Abstract]
Salaries and benefits	$ 14,864	$ 16,015
Real estate and property taxes	10,474	7,928
Unpaid capital expenditures	11,781	12,387
Other	26,032	27,335
Total accrued expenses	$ 63,151	$ 63,665

Debt (Revolving Credit Facility

Debt (Revolving Credit Facility under the Senior Credit Agreement) (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018
Line of Credit Facility [Line Items]
Repayments of revolving credit facility		$ 590,000	$ 725,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,250,000	$ 1,250,000
Line of credit facility, commitment fee		0.20%
Revolving credit facility, maturity date		Apr. 11, 2023
Borrowings on the revolving credit facility	175,000	$ 265,000
Repayments of revolving credit facility	$ 255,000	$ 590,000
Minimum [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		1.125%
Line of credit facility, commitment fee		0.20%
Minimum [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		0.125%
Maximum [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		1.75%
Line of credit facility, commitment fee		0.25%
Maximum [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate		0.75%

Debt (Term Loans under the Seni

Debt (Term Loans under the Senior Credit Agreement) (Narrative) (Details) - USD ($)	May 23, 2019	Feb. 01, 2019	Apr. 11, 2018	Sep. 30, 2019	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Debt instrument, principal balance				$ 9,930,000,000		$ 9,930,000,000		$ 10,028,000,000
Repayment of term loans						18,000,000	$ 1,941,000,000
2014 Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount				$ 1,500,000,000		$ 1,500,000,000
Debt instrument, maturity date						Mar. 24, 2021
Term Loan, percentage of par value				99.75%		99.75%
Quarterly payments						$ 3,800,000
Financing fees				$ 14,100,000		14,100,000
Repayment of term loans			$ 1,443,800,000		$ 3,800,000
Write-off of deferred financing fees			5,800,000
Discount related to debt			1,700,000
2015 Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount				$ 500,000,000		$ 500,000,000
Debt instrument, maturity date						Jun. 10, 2022
Term Loan, percentage of par value				99.00%		99.00%
Quarterly payments						$ 1,300,000
Financing fees				$ 5,500,000		$ 5,500,000
Repayment of term loans			486,300,000		$ 1,300,000
Write-off of deferred financing fees			3,200,000
Discount related to debt			3,100,000
2018 Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			2,400,000,000
Debt instrument, maturity date						Apr. 11, 2025
Term Loan, percentage of par value				99.75%		99.75%
Quarterly payments						$ 6,000,000
Accruing interest rate during the period						4.05%
Debt instrument, principal balance				$ 2,370,000,000		$ 2,370,000,000		$ 2,388,000,000
Financing fees				16,800,000		16,800,000
Repayment of term loans				$ 6,000,000		$ 18,000,000
2018 Term Loan [Member] | Interest Rate Swap [Member]
Debt Instrument [Line Items]
Loan period	4 years	4 years
Notional amount	$ 750,000,000	$ 1,200,000,000
Derivative basis spread on variable interest rate	2.00%	2.00%
Derivative fixed interest rate	4.08%	4.495%
2014 and 2015 Term Loans [Member]
Debt Instrument [Line Items]
Repayment of term loans			$ 1,930,000,000
Base Rate [Member] | 2014 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						1.25%
Base Rate [Member] | 2015 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						1.25%
Base Rate [Member] | 2018 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						1.00%
Eurodollar [Member] | 2014 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						2.25%
Eurodollar [Member] | 2015 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						2.25%
Eurodollar [Member] | 2018 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						2.00%
Minimum [Member] | Base Rate [Member] | 2014 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						0.00%
Minimum [Member] | Base Rate [Member] | 2015 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						0.00%
Minimum [Member] | Base Rate [Member] | 2018 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						0.00%
Minimum [Member] | Eurodollar [Member] | 2014 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						0.00%
Minimum [Member] | Eurodollar [Member] | 2015 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						0.00%
Minimum [Member] | Eurodollar [Member] | 2018 Term Loan [Member]
Debt Instrument [Line Items]
Basis spread on variable interest rate						0.00%

Debt (Secured Tower Revenue Sec

Debt (Secured Tower Revenue Securities) (Narrative) (Details) - USD ($)	Sep. 13, 2019	Mar. 09, 2018	Apr. 17, 2017	Jul. 07, 2016	Oct. 14, 2015	Oct. 15, 2014	Apr. 18, 2013	Sep. 30, 2019
2013 Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount							$ 1,330,000,000
Financing fees							$ 11,000,000
Debt instrument, weighted average interest rate							3.218%
2013-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount							$ 425,000,000
Debt instrument, interest rate, stated percentage							2.24%
Repayment date of debt instrument							Apr. 10, 2018
Debt instrument, maturity date							Apr. 9, 2043
2013-2C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount							$ 575,000,000
Debt instrument, interest rate, stated percentage							3.722%
Repayment date of debt instrument							Apr. 11, 2023
Debt instrument, maturity date							Apr. 9, 2048	Apr. 11, 2023
2013-1D Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount							$ 330,000,000
Debt instrument, interest rate, stated percentage							3.598%
Repayment date of debt instrument							Apr. 10, 2018
Debt instrument, maturity date							Apr. 9, 2043
2014 Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount						$ 1,540,000,000
Financing fees						$ 22,500,000
Debt instrument, weighted average interest rate						3.289%
2014-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount						$ 920,000,000
Debt instrument, interest rate, stated percentage						2.898%
Repayment date of debt instrument						Oct. 8, 2019
Debt instrument, maturity date						Oct. 11, 2044		Oct. 8, 2019
Repayments of long-term debt	$ 920,000,000
2014-2C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount						$ 620,000,000
Debt instrument, interest rate, stated percentage						3.869%
Repayment date of debt instrument						Oct. 8, 2024
Debt instrument, maturity date						Oct. 8, 2049		Oct. 8, 2024
2015-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount					$ 500,000,000
Debt instrument, interest rate, stated percentage					3.156%
Repayment date of debt instrument					Oct. 8, 2020
Debt instrument, maturity date					Oct. 10, 2045			Oct. 8, 2020
Financing fees					$ 11,200,000
2016-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount				$ 700,000,000
Debt instrument, interest rate, stated percentage				2.877%
Repayment date of debt instrument				Jul. 9, 2021
Debt instrument, maturity date				Jul. 10, 2046				Jul. 9, 2021
Financing fees				$ 9,500,000
2017-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 760,000,000
Debt instrument, interest rate, stated percentage			3.168%
Repayment date of debt instrument			Apr. 11, 2022
Debt instrument, maturity date			Apr. 9, 2047					Apr. 11, 2022
Financing fees			$ 10,200,000
2017-1R Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount			$ 40,000,000
Debt instrument, interest rate, stated percentage			4.459%
Repayment date of debt instrument			Apr. 11, 2022
Debt instrument, maturity date			Apr. 9, 2047
2018-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 640,000,000
Debt instrument, interest rate, stated percentage		3.448%
Repayment date of debt instrument		Mar. 9, 2023
Debt instrument, maturity date		Mar. 9, 2048						Mar. 9, 2023
Financing fees		$ 8,600,000
2018-1R Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount		$ 33,700,000
Debt instrument, interest rate, stated percentage		4.949%
Repayment date of debt instrument		Mar. 9, 2023
Debt instrument, maturity date		Mar. 9, 2048
2019-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 1,165,000,000
Debt instrument, interest rate, stated percentage	2.836%
Repayment date of debt instrument	Jan. 12, 2025
Debt instrument, maturity date	Jan. 12, 2050							Jan. 12, 2025
Financing fees	$ 12,000,000
Mortgage Loan [Member]
Debt Instrument [Line Items]
Debt instrument, increase	1,200,000,000
Debt instrument, decrease after giving effect to prepayment of loan components	306,400,000,000
SBA Guarantor, LLC [Member] | 2019-1R Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, face amount	$ 61,400,000
Debt instrument, interest rate, stated percentage	4.213%
Repayment date of debt instrument	Jan. 12, 2025
Debt instrument, maturity date	Jan. 12, 2050

Debt (Senior Notes) (Narrative)

Debt (Senior Notes) (Narrative) (Details) - USD ($) $ in Thousands	Aug. 15, 2016	Jul. 01, 2014	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Oct. 13, 2017
Debt Instrument [Line Items]
Repayments of revolving credit facility				$ 590,000	$ 725,000
2014 Senior Notes [Member]
Debt Instrument [Line Items]
Unsecured senior notes		$ 750,000
Debt instrument, maturity date				Jul. 15, 2022
Debt instrument, interest rate, stated percentage		4.875%
Percentage of face value price for issuance of senior notes		99.178%
Interest payable dates				January 15 and July 15
Financing fees		$ 11,600
2014 Senior Notes [Member] | Redemption, Period One [Member]
Debt Instrument [Line Items]
Redemption period				Jul. 15, 2019
Redemption price, percentage				101.219%
2014 Senior Notes [Member] | Redemption, Period Two [Member]
Debt Instrument [Line Items]
Redemption period				Jul. 15, 2020
Redemption price, percentage				100.00%
2016 Senior Notes [Member]
Debt Instrument [Line Items]
Unsecured senior notes	$ 1,100,000
Debt instrument, maturity date				Sep. 1, 2024
Debt instrument, interest rate, stated percentage	4.875%
Percentage of face value price for issuance of senior notes	99.178%
Interest payable dates				March 1 and September 1
Financing fees	$ 12,800
2016 Senior Notes [Member] | Redemption, Period One [Member]
Debt Instrument [Line Items]
Redemption period				Sep. 1, 2019
Redemption price, percentage				103.656%
2016 Senior Notes [Member] | Redemption, Period Two [Member]
Debt Instrument [Line Items]
Redemption period				Sep. 1, 2020
Redemption price, percentage				102.438%
2016 Senior Notes [Member] | Redemption, Period Three [Member]
Debt Instrument [Line Items]
Redemption period				Sep. 1, 2021
Redemption price, percentage				101.219%
2016 Senior Notes [Member] | Redemption, Period Four [Member]
Debt Instrument [Line Items]
Redemption period				Sep. 1, 2022
Redemption price, percentage				100.00%
2017 Senior Notes [Member]
Debt Instrument [Line Items]
Unsecured senior notes						$ 750,000
Debt instrument, maturity date				Oct. 1, 2022
Debt instrument, interest rate, stated percentage						4.00%
Interest payable dates				April 1 and October 1
Financing fees						$ 8,900
Redemption price, percentage				104.00%
2017 Senior Notes [Member] | Redemption, Period One [Member]
Debt Instrument [Line Items]
Redemption period				Oct. 1, 2019
Redemption price, percentage				102.00%
2017 Senior Notes [Member] | Redemption, Period Two [Member]
Debt Instrument [Line Items]
Redemption period				Oct. 1, 2020
Redemption price, percentage				101.00%
2017 Senior Notes [Member] | Redemption, Period Three [Member]
Debt Instrument [Line Items]
Redemption period				Oct. 1, 2021
Redemption price, percentage				100.00%
Maximum [Member] | 2017 Senior Notes [Member]
Debt Instrument [Line Items]
Aggregate redemption price, percentage				35.00%
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date				Apr. 11, 2023
Repayments of revolving credit facility			$ 255,000	$ 590,000

Debt (Schedule of Principal Val

Debt (Schedule of Principal Values, Fair Values, and Carrying Values of Debt) (Details) - USD ($)	Sep. 13, 2019	Mar. 09, 2018	Apr. 17, 2017	Jul. 07, 2016	Oct. 14, 2015	Oct. 15, 2014	Apr. 18, 2013	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Principal Balance								$ 9,930,000,000	$ 10,028,000,000
Fair Value								10,076,546,000	9,736,246,000
Carrying Value								9,845,502,000	9,938,553,000
Less: current maturities of long-term debt								(24,000,000)	(941,728,000)
Total long-term debt, net of current maturities								$ 9,821,502,000	8,996,825,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date								Apr. 11, 2023
Principal Balance									325,000,000
Fair Value									325,000,000
Carrying Value									325,000,000
2014 Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date								Jul. 15, 2022
Principal Balance								$ 750,000,000	750,000,000
Fair Value								757,500,000	735,000,000
Carrying Value								$ 742,993,000	741,273,000
2016 Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date								Sep. 1, 2024
Principal Balance								$ 1,100,000,000	1,100,000,000
Fair Value								1,141,250,000	1,034,000,000
Carrying Value								$ 1,085,591,000	1,083,689,000
2017 Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date								Oct. 1, 2022
Principal Balance								$ 750,000,000	750,000,000
Fair Value								763,125,000	712,500,000
Carrying Value								$ 744,392,000	743,099,000
2013-2C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date							Apr. 9, 2048	Apr. 11, 2023
Principal Balance								$ 575,000,000	575,000,000
Fair Value								589,410,000	569,164,000
Carrying Value								$ 570,574,000	569,715,000
2014-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date						Oct. 11, 2044		Oct. 8, 2019
Principal Balance									920,000,000
Fair Value									914,241,000
Carrying Value									917,728,000
2014-2C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date						Oct. 8, 2049		Oct. 8, 2024
Principal Balance								$ 620,000,000	620,000,000
Fair Value								650,175,000	609,665,000
Carrying Value								$ 614,979,000	614,315,000
2015-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date					Oct. 10, 2045			Oct. 8, 2020
Principal Balance								$ 500,000,000	500,000,000
Fair Value								502,500,000	496,640,000
Carrying Value								$ 497,493,000	495,737,000
2016-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date				Jul. 10, 2046				Jul. 9, 2021
Principal Balance								$ 700,000,000	700,000,000
Fair Value								705,236,000	691,432,000
Carrying Value								$ 696,445,000	694,994,000
2017-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date			Apr. 9, 2047					Apr. 11, 2022
Principal Balance								$ 760,000,000	760,000,000
Fair Value								766,300,000	744,496,000
Carrying Value								$ 754,546,000	753,028,000
2018-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date		Mar. 9, 2048						Mar. 9, 2023
Principal Balance								$ 640,000,000	640,000,000
Fair Value								662,586,000	641,478,000
Carrying Value								$ 633,928,000	632,725,000
2018 Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date								Apr. 11, 2025
Principal Balance								$ 2,370,000,000	2,388,000,000
Fair Value								2,372,963,000	2,262,630,000
Carrying Value								$ 2,351,421,000	$ 2,367,250,000
2019-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Jan. 12, 2050							Jan. 12, 2025
Principal Balance								$ 1,165,000,000
Fair Value								1,165,501,000
Carrying Value								$ 1,153,140,000

Debt (Schedule of Cash and Non-

Debt (Schedule of Cash and Non-Cash Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Debt Instrument [Line Items]
Cash Interest	$ 96,567	$ 95,717	$ 292,681	$ 278,278
Non-cash Interest	662	632	1,954	2,002
2014 Senior Notes [Member]
Debt Instrument [Line Items]
Cash Interest	9,141	9,141	27,422	27,422
Non-cash Interest	201	191	596	567
2016 Senior Notes [Member]
Debt Instrument [Line Items]
Cash Interest	13,406	13,406	40,219	40,219
Non-cash Interest	265	252	786	748
2017 Senior Notes [Member]
Debt Instrument [Line Items]
Cash Interest	7,500	7,500	22,500	22,500
2013 Tower Securities [Member]
Debt Instrument [Line Items]
Cash Interest	5,396	5,396	16,188	20,267
2014 Tower Securities [Member]
Debt Instrument [Line Items]
Cash Interest	11,439	12,785	37,009	38,354
2015-1C Tower Securities [Member]
Debt Instrument [Line Items]
Cash Interest	3,985	3,985	11,954	11,954
2016-1C Tower Securities [Member]
Debt Instrument [Line Items]
Cash Interest	5,090	5,090	15,271	15,271
2017-1C Tower Securities [Member]
Debt Instrument [Line Items]
Cash Interest	6,096	6,096	18,269	18,268
2018-1C Tower Securities [Member]
Debt Instrument [Line Items]
Cash Interest	5,570	5,570	16,711	12,502
2018-1C Tower Securities [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Cash Interest	1,009	1,721	5,409	4,911
2019-1C Tower Securities [Member]
Debt Instrument [Line Items]
Cash Interest	1,671		1,671
2014 Term Loan [Member]
Debt Instrument [Line Items]
Cash Interest				15,550
Non-cash Interest				146
2015 Term Loan [Member]
Debt Instrument [Line Items]
Cash Interest				5,237
Non-cash Interest				187
2018 Term Loan [Member]
Debt Instrument [Line Items]
Cash Interest	26,243	25,096	79,959	46,303
Non-cash Interest	196	189	572	354
Other [Member]
Debt Instrument [Line Items]
Cash Interest	$ 21	$ (69)	$ 99	$ (480)

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	Oct. 25, 2019	Sep. 25, 2019	Sep. 30, 2019	Sep. 30, 2019	Nov. 07, 2019	Jul. 29, 2019
Class of Stock [Line Items]
Dividends, amount per share		$ 0.37
Dividends, aggregate amount		$ 41.9
Dividends, date to be paid		Sep. 25, 2019
Dividends, date of record		Aug. 28, 2019
Subsequent Event [Member]
Class of Stock [Line Items]
Dividends, date declared	Oct. 25, 2019
Dividends, amount per share	$ 0.37
Dividends, date to be paid	Dec. 19, 2019
Dividends, date of record	Nov. 21, 2019
Class A Common Stock [Member]
Class of Stock [Line Items]
Stock repurchased, shares			0.7	1.2
Stock repurchased, value			$ 175.7	$ 270.3
Weighted average price per share			$ 249.04	$ 231.20
Class A Common Stock [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Stock repurchase program, remaining authorization					$ 824.3
Stock Repurchase Program One [Member] | Class A Common Stock [Member]
Class of Stock [Line Items]
Stock repurchase program, remaining authorization			$ 110	$ 110
Stock Repurchase Program Two [Member] | Class A Common Stock [Member]
Class of Stock [Line Items]
Stock repurchase program, authorized						$ 1,000

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2019
Stock-Based Compensation [Abstract]
Accelerated compensation cost	$ 7.3	$ 11.2
Weighted-average fair value of options granted			$ 33.99
Total intrinsic value for options exercised			$ 129.6

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of Assumptions used to Estimate Fair Value of Stock Options) (Details)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Stock-Based Compensation [Abstract]
Risk free interest rate, Minimum	1.37%	2.57%
Risk free interest rate, Maximum	2.47%	2.87%
Dividend yield	1.30%	0.70%
Expected volatility	20.00%	22.00%
Expected lives	4 years 7 months 6 days	4 years 7 months 6 days

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Stock Option Activity) (Details) $ / shares in Units, shares in Thousands, $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)$ / sharesshares
Stock-Based Compensation [Abstract]
Number of Shares, Outstanding at December 31, 2018 | shares	4,816
Number of Shares, Granted | shares	1,068
Number of Shares, Exercised | shares	(1,290)
Number of Shares, Forfeited/canceled | shares	(56)
Number of Shares,Outstanding at September 30, 2019 | shares	4,538
Number of Shares, Exercisable at September 30, 2019 | shares	1,939
Number of Shares, Unvested at September 30, 2019 | shares	2,599
Weighted-Average Exercise Price Per Share, Outstanding at December 31, 2018 | $ / shares	$ 114.48
Weighted-Average Exercise Price Per Share, Granted | $ / shares	183.41
Weighted-Average Exercise Price Per Share, Exercised | $ / shares	103.43
Weighted-Average Exercise Price Per Share, Forfeited/canceled | $ / shares	139.03
Weighted-Average Exercise Price Per Share, Outstanding at September 30, 2019 | $ / shares	133.55
Weighted-Average Exercise Price Per Share, Exercisable at September 30, 2019 | $ / shares	109.35
Weighted-Average Exercise Price Per Share, Unvested at September 30, 2019 | $ / shares	$ 151.62
Weighted-Average Remaining Contractual Life (in years), Outstanding at September 30, 2019	4 years 4 months 24 days
Weighted-Average Remaining Contractual Life (in years), Exercisable at September 30, 2019	3 years
Weighted-Average Remaining Contractual Life (in years), Unvested at September 30, 2019	5 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding at September 30, 2019 | $	$ 488,143
Aggregate Intrinsic Value, Exercisable at September 30, 2019 | $	255,552
Aggregate Intrinsic Value, Unvested at September 30, 2019 | $	$ 232,591

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary of Restricted Stock Unit Activity) (Details) shares in Thousands	9 Months Ended
	Sep. 30, 2019$ / sharesshares
Stock-Based Compensation [Abstract]
Number of Shares, Outstanding at December 31, 2018 | shares	324
Number of Shares, Granted | shares	134
Number of Shares, Vested | shares	(130)
Number of Shares, Forfeited/canceled | shares	(11)
Number of Shares, Outstanding at September 30, 2019 | shares	317
Weighted-Average Grant Date Fair Value per Share, Outstanding at December 31, 2018 | $ / shares	$ 128.69
Weighted-Average Grant Date Fair Value per Share, Granted | $ / shares	185.31
Weighted-Average Grant Date Fair Value per Share, Vested | $ / shares	125.71
Weighted-Average Grant Date Fair Value per Share, Forfeited/canceled | $ / shares	150.07
Weighted-Average Grant Date Fair Value per Share, Outstanding at September 30, 2019 | $ / shares	$ 153.20

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) $ in Millions	Dec. 31, 2018USD ($)
Income Taxes [Abstract]
Net foreign operating loss carry-forward	$ 755.4

Segment Data (Narrative) (Detai

Segment Data (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)segment	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Segment Reporting Information [Line Items]
Number of business segments | segment			2
Site leasing	$ 468,572	$ 435,260	$ 1,379,758	$ 1,295,686
Total assets	9,201,138		9,201,138		$ 7,213,707
Brazil [Member]
Segment Reporting Information [Line Items]
Site leasing			168,600	$ 167,100
Total assets	$ 915,500		$ 915,500		$ 1,031,600

Segment Data (Schedule of Segme

Segment Data (Schedule of Segment Reporting Information) (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Segment Reporting Information [Line Items]
Revenues		$ 507,547	$ 467,221	$ 1,500,987	$ 1,381,846
Cost of revenues		123,509	116,741	371,773	346,493
Operating profit		384,038	350,480	1,129,214	1,035,353
Selling, general, and administrative	[1]	42,272	34,908	148,755	106,901
Acquisition and new business initiatives related adjustments and expenses		4,692	2,995	9,669	9,171
Asset impairment and decommission costs		8,240	6,868	23,631	22,778
Depreciation, amortization and accretion		174,987	167,703	517,590	502,659
Operating income		153,847	138,006	429,569	393,844
Other expense (principally interest expense and other income (expense))		(135,083)	(123,841)	(327,029)	(415,191)
Income (loss) before income taxes		18,764	14,165	102,540	(21,347)
Cash capital expenditures		171,144	155,061	396,788	509,943
Assets		9,201,138		9,201,138		$ 7,213,707
Domestic Site Leasing [Member]
Segment Reporting Information [Line Items]
Revenues		374,705	353,502	1,106,722	1,041,892
Cost of revenues		63,836	66,862	194,525	199,633
Operating profit		310,869	286,640	912,197	842,259
Selling, general, and administrative		21,840	17,763	77,926	55,047
Acquisition and new business initiatives related adjustments and expenses		2,717	1,887	4,698	5,242
Asset impairment and decommission costs		6,027	2,801	18,476	15,971
Depreciation, amortization and accretion		132,650	129,246	394,308	382,490
Operating income		147,635	134,943	416,789	383,509
Cash capital expenditures		67,951	33,794	242,660	287,711
Assets		6,261,128		6,261,128		5,035,826
International Site Leasing [Member]
Segment Reporting Information [Line Items]
Revenues		93,867	81,758	273,036	253,794
Cost of revenues		29,157	25,432	84,642	79,167
Operating profit		64,710	56,326	188,394	174,627
Selling, general, and administrative		8,626	6,734	22,624	20,242
Acquisition and new business initiatives related adjustments and expenses		1,975	1,108	4,971	3,929
Asset impairment and decommission costs		2,213	4,067	5,155	6,475
Depreciation, amortization and accretion		40,208	36,310	117,197	113,550
Operating income		11,688	8,107	38,447	30,431
Cash capital expenditures		101,776	120,176	149,704	218,739
Assets		2,766,050		2,766,050		2,042,800
Site Development [Member]
Segment Reporting Information [Line Items]
Revenues		38,975	31,961	121,229	86,160
Cost of revenues		30,516	24,447	92,606	67,693
Operating profit		8,459	7,514	28,623	18,467
Selling, general, and administrative		4,183	3,934	16,774	11,943
Asset impairment and decommission costs					332
Depreciation, amortization and accretion		660	646	1,900	1,936
Operating income		3,616	2,934	9,949	4,256
Cash capital expenditures		357	425	2,165	1,345
Assets		79,773		79,773		60,775
Other [Member]
Segment Reporting Information [Line Items]
Selling, general, and administrative		7,623	6,477	31,431	19,669
Depreciation, amortization and accretion		1,469	1,501	4,185	4,683
Operating income		(9,092)	(7,978)	(35,616)	(24,352)
Other expense (principally interest expense and other income (expense))		(135,083)	(123,841)	(327,029)	(415,191)
Cash capital expenditures		1,060	$ 666	2,259	$ 2,148
Assets		$ 94,187		$ 94,187		$ 74,306
[1]	Includes non-cash compensation of $ 12,281 and $ 10,261 for the three months ended September 30, 2019 and 2018, respectively, and $ 59,017 and $ 31,188 for the nine months ended September 30, 2019 and 2018, respectively.

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from earnings per share calculation	8,091	900,000	18,277	5,200,000
Restricted Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from earnings per share calculation				300,000

Earnings Per Share (Weighted-Av

Earnings Per Share (Weighted-Average Shares of Common Stock Outstanding used in Calculation of Basic and Diluted Earnings Per Share) (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended						9 Months Ended
	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income (loss) attributable to SBA Communications Corporation	$ 21,679	$ 31,973	$ 25,989	$ 16,144	$ (57,391)	$ 31,545	$ 79,640	$ (9,702)
Basic weighted-average shares outstanding	113,037			114,597			112,985	115,378
Dilutive impact of stock options and restricted shares	2,147			1,517			1,839
Diluted weighted-average shares outstanding	115,184			116,114			114,824	115,378
Net income (loss) per common share attributable to SBA Communications Corporation:
Basic	$ 0.19			$ 0.14			$ 0.70	$ (0.08)
Diluted	$ 0.19			$ 0.14			$ 0.69	$ (0.08)

Commitments and Contingencies_2

Commitments and Contingencies (Annual Minimum Lease Payments) (Details) $ in Thousands	Sep. 30, 2019USD ($)
Finance Leases
The remainder of 2019	$ 348
2020	924
2021	745
2022	529
2023	59
Thereafter
Total minimum lease payments	2,605
Less: amount representing interest	(145)
Present value of future payments	2,460
Less: current obligations	(987)
Long-term obligations	1,473
Operating Leases
The remainder of 2019	59,102
2020	237,623
2021	239,390
2022	240,539
2023	240,594
Thereafter	3,086,003
Total minimum lease payments	4,103,251
Less: amount representing interest	(1,701,002)
Present value of future payments	2,402,249
Less: current obligations	(229,210)
Long-term obligations	$ 2,173,039

Commitments and Contingencies_3

Commitments and Contingencies (Annual Minimum Lease Income) (Details) $ in Thousands	Sep. 30, 2019USD ($)
Commitments and Contingencies [Abstract]
The remainder of 2019	$ 426,237
2020	1,561,995
2021	1,320,941
2022	1,070,375
2023	865,317
Thereafter	2,259,217
Total	$ 7,504,082

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interest (Narrative) (Details) $ in Millions	1 Months Ended
	Aug. 31, 2019USD ($)
Noncontrolling Interest [Line Items]
Fair market value	$ 14
Options exercisable date	Aug. 30, 2020
Atlas Tower South Africa [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interest ownership percentage	6.00%

Redeemable Noncontrolling Int_4

Redeemable Noncontrolling Interest (Components of Redeemable Noncontrolling Interest) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
Redeemable Noncontrolling Interest [Abstract]
BALANCE, December 31, 2018
Purchase of noncontrolling interest	13,990
Net income attributable to the noncontrolling interest	87
BALANCE, September 30, 2019	$ 14,077