SBA Communications (SBAC) 10-Q 6 Aug 20 2020 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Jun. 30, 2020
Document Fiscal Year Focus	2020
Document Transition Report	false
Entity File Number	001-16853
Entity Registrant Name	SBA COMMUNICATIONS CORPORATION
Entity Incorporation, State or Country Code	FL
Entity Tax Identification Number	65-0716501
Entity Address, Address Line One	8051 Congress Avenue
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33487
City Area Code	561
Local Phone Number	995-7670
Entity Current Reporting Status	Yes
Entity Interactive Data Current	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		111,938,546
Amendment Flag	false
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001034054

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Current assets:
Cash and cash equivalents	$ 207,487	$ 108,309
Restricted cash	41,684	30,243
Accounts receivable, net	91,295	132,125
Costs and estimated earnings in excess of billings on uncompleted contracts	18,877	26,313
Short-term investments	225,853	534
Prepaid expenses and other current assets	38,890	36,747
Total current assets	624,086	334,271
Property and equipment, net	2,658,889	2,794,602
Intangible assets, net	3,174,567	3,626,773
Right-of-use assets, net	2,375,247	2,572,217
Other assets	557,750	432,078
Total assets	9,390,539	9,759,941
Current Liabilities:
Accounts payable	26,353	31,846
Accrued expenses	65,581	67,618
Current maturities of long-term debt	24,000	522,090
Deferred revenue	130,670	113,507
Accrued interest	50,420	49,269
Current lease liabilities	229,850	247,015
Other current liabilities	25,785	16,948
Total current liabilities	552,659	1,048,293
Long-term liabilities:
Long-term debt, net	10,555,568	9,812,335
Long-term lease liabilities	2,113,602	2,279,400
Other long-term liabilities	459,353	270,868
Total long-term liabilities	13,128,523	12,362,603
Redeemable noncontrolling interests	14,349	16,052
Shareholders' deficit:
Preferred stock - par value $.01, 30,000 shares authorized, no shares issued or outstanding
Common stock - Class A, par value $0.01, 400,000 shares authorized, 111,918 shares and 111,775 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	1,119	1,118
Additional paid-in capital	2,534,423	2,461,335
Accumulated deficit	(5,972,657)	(5,560,695)
Accumulated other comprehensive loss, net	(867,877)	(568,765)
Total shareholders' deficit	(4,304,992)	(3,667,007)
Total liabilities, redeemable noncontrolling interests, and shareholders' deficit	$ 9,390,539	$ 9,759,941

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2020	Dec. 31, 2019
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	111,918,000	111,775,000
Common stock - Class A, shares outstanding	111,918,000	111,775,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Site leasing		$ 482,403	$ 459,003	$ 974,758	$ 911,186
Site development		24,823	41,144	49,534	82,254
Total revenues		507,226	500,147	1,024,292	993,440
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):
Cost of site leasing		91,598	93,460	187,397	186,175
Cost of site development		19,904	30,988	39,620	62,089
Selling, general, and administrative expenses	[1]	49,088	55,524	98,704	106,483
Acquisition and new business initiatives related adjustments and expenses		4,634	2,539	8,433	4,976
Asset impairment and decommission costs		6,242	9,620	20,597	15,391
Depreciation, accretion, and amortization		178,706	171,564	361,285	342,602
Total operating expenses		350,172	363,695	716,036	717,716
Operating income		157,054	136,452	308,256	275,724
Other income (expense):
Interest income		699	1,581	1,584	3,381
Interest expense		(95,687)	(97,447)	(191,538)	(196,114)
Non-cash interest expense		(2,337)	(651)	(4,743)	(1,292)
Amortization of deferred financing fees		(5,188)	(5,116)	(10,328)	(10,176)
Loss from extinguishment of debt, net				(16,864)
Other (expense) income, net		(31,588)	12,762	(257,885)	12,254
Total other expense, net		(134,101)	(88,871)	(479,774)	(191,947)
Income (loss) before income taxes		22,953	47,581	(171,518)	83,777
Benefit (provision) for income taxes		165	(15,608)	66,702	(25,815)
Net income (loss)		23,118	31,973	(104,816)	57,962
Net (income) loss attributable to noncontrolling interests		(305)		569
Net income (loss) attributable to SBA Communications Corporation		$ 22,813	$ 31,973	$ (104,247)	$ 57,962
Net income (loss) per common share attributable to SBA Communications Corporation:
Basic		$ 0.20	$ 0.28	$ (0.93)	$ 0.51
Diluted		$ 0.20	$ 0.28	$ (0.93)	$ 0.51
Weighted average number of common shares
Basic		111,738	113,205	111,823	112,958
Diluted		113,634	114,940	111,823	114,643
[1]	Includes non-cash compensation of $ 18,131 and $ 24,131 for the three months ended June 30, 2020 and 2019, respectively, and $ 33,684 and $ 46,736 for the six months ended June 30, 2020 and 2019, respectively.

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Non-cash compensation expense			$ 34,857	$ 47,901
Selling, General And Administrative [Member]
Non-cash compensation expense	$ 18,131	$ 24,131	$ 33,684	$ 46,736

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ 23,118	$ 31,973	$ (104,816)	$ 57,962
Unrealized loss on interest rate swaps	(12,684)	(36,281)	(115,923)	(51,593)
Foreign currency translation adjustments	(8,166)	13,122	(184,193)	8,578
Comprehensive income (loss)	2,268	8,814	(404,932)	14,947
Comprehensive (income) loss attributable to noncontrolling interests	(485)		1,573
Comprehensive income (loss) attributable to SBA Communications Corporation	$ 1,783	$ 8,814	$ (403,359)	$ 14,947

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Deficit - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]Class A Common Stock [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Common Stock [Member]Class A Common Stock [Member]	Additional Paid-In Capital [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]Cumulative Effect, Period of Adoption, Adjustment [Member]	Accumulated Deficit [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss, Net [Member]Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Accumulated Other Comprehensive Loss, Net [Member]	Cumulative Effect, Period of Adoption, Adjustment [Member]	Cumulative Effect, Period of Adoption, Adjusted Balance [Member]	Total
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
Net income (loss) attributable to SBA Communications Corporation							57,962					57,962
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements		$ 11		87,910								87,921
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements, Shares		1,110
Non-cash stock compensation				48,469								48,469
Common stock issued in connection with acquisitions				1,680								1,680
Common stock issued in connection with acquisitions, Shares		10
Unrealized loss on interest rate swaps									(51,593)			(51,593)
Repurchase and retirement of common stock		$ (4)					(94,568)					(94,572)
Repurchase and retirement of common stock, Shares		(463)
Foreign currency translation adjustments attributable to SBA Communications Corporation									8,578			8,578
BALANCE at Jun. 30, 2019	$ 1,131	$ 1,131	$ 2,408,385	2,408,385	$ (20,968)	$ (5,193,942)	(5,193,942)	$ (554,920)	(554,920)	$ (20,968)	$ (3,339,346)	(3,339,346)
BALANCE, Shares at Jun. 30, 2019	113,090	113,090
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 equity awards and stock purchase plans, offset by the impact of net share settlements		$ 3		24,443								24,446
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements, Shares		348
Non-cash stock compensation				24,747								24,747
Unrealized loss on interest rate swaps									(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 attributable to SBA Communications Corporation									13,122			13,122
BALANCE at Jun. 30, 2019	$ 1,131	$ 1,131	$ 2,408,385	2,408,385	$ (20,968)	$ (5,193,942)	(5,193,942)	$ (554,920)	(554,920)	$ (20,968)	$ (3,339,346)	(3,339,346)
BALANCE, Shares at Jun. 30, 2019	113,090	113,090
BALANCE at Dec. 31, 2019		$ 1,118		2,461,335			(5,560,695)		(568,765)			$ (3,667,007)
BALANCE, Shares at Dec. 31, 2019		111,775										111,775
Net income (loss) attributable to SBA Communications Corporation							(104,247)					$ (104,247)
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements		$ 9		37,307								37,316
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements, Shares		980
Non-cash stock compensation				35,651								35,651
Unrealized loss on interest rate swaps									(115,923)			(115,923)
Repurchase and retirement of common stock		$ (8)					(203,322)					(203,330)
Repurchase and retirement of common stock, Shares		(837)
Foreign currency translation adjustments attributable to SBA Communications Corporation									(183,189)			(183,189)
Dividends on common stock							(104,393)					(104,393)
Adjustment to fair value related to noncontrolling interests				130								130
BALANCE at Jun. 30, 2020		$ 1,119		2,534,423			(5,972,657)		(867,877)			$ (4,304,992)
BALANCE, Shares at Jun. 30, 2020		111,918										111,918
BALANCE at Mar. 31, 2020		$ 1,116		2,471,886			(5,943,386)		(846,847)			$ (4,317,231)
BALANCE, Shares at Mar. 31, 2020		111,559
Net income (loss) attributable to SBA Communications Corporation							22,813					22,813
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements		$ 3		42,932								42,935
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements, Shares		359
Non-cash stock compensation				18,991								18,991
Unrealized loss on interest rate swaps									(12,684)			(12,684)
Foreign currency translation adjustments attributable to SBA Communications Corporation									(8,346)			(8,346)
Dividends on common stock							(52,084)					(52,084)
Adjustment to fair value related to noncontrolling interests				614								614
BALANCE at Jun. 30, 2020		$ 1,119		$ 2,534,423			$ (5,972,657)		$ (867,877)			$ (4,304,992)
BALANCE, Shares at Jun. 30, 2020		111,918										111,918

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (104,816)	$ 57,962
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation, accretion, and amortization	361,285	342,602
Non-cash asset impairment and decommission costs	20,160	14,737
Non-cash compensation expense	34,857	47,901
Amortization of deferred financing fees	10,328	10,176
Loss (gain) on remeasurement of U.S. dollar denominated intercompany loans	261,308	(7,007)
Deferred income tax (benefit) expense	(77,707)	14,822
Other non-cash items reflected in the Statements of Operations	16,875	(3,577)
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts, net	34,127	(4,546)
Prepaid expenses and other assets	1,979	3,915
Operating lease right-of-use assets, net	59,559	47,237
Accounts payable and accrued expenses	4,093	1,853
Accrued interest	(474)	513
Long-term lease liabilities	(49,828)	(41,732)
Other liabilities	20,672	(18,750)
Net cash provided by operating activities	592,418	466,106
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions	(119,035)	(151,182)
Capital expenditures	(66,979)	(72,785)
Purchase of investments	(1,135,026)	(285,599)
Proceeds from sale of investments	910,000	255,557
Other investing activities	(2,930)	(1,466)
Net cash used in investing activities	(413,970)	(255,475)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under Revolving Credit Facility	515,000	90,000
Repayments under Revolving Credit Facility	(1,005,000)	(335,000)
Proceeds from issuance of Senior Notes, net of fees	1,480,206
Repayment of Senior Notes	(759,143)
Proceeds from employee stock purchase/stock option plans, net of taxes	37,316	87,921
Repurchase and retirement of common stock	(203,330)	(94,572)
Payment of dividends on common stock	(104,171)
Other financing activities	(12,999)	(12,812)
Net cash used in financing activities	(52,121)	(264,463)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(15,809)	2,344
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	110,518	(51,488)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:
Beginning of period	141,120	178,300
End of period	251,638	126,812
Cash paid during the period for:
Interest	191,929	195,671
Income taxes	8,940	11,777
SUPPLEMENTAL CASH FLOW INFORMATION OF NON-CASH ACTIVITIES:
Right-of-use assets obtained in exchange for new operating lease liabilities	12,269	27,225
Operating lease modifications and reassessments	20,501	(52,644)
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 893	$ 1,678
Common stock issued in connection with acquisitions		1,680

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
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, 2019 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 $ 20.4 million loss and a $ 6.0 million gain, net of taxes, on the remeasurement of intercompany loans for the three months ended June 30, 2020 and 2019, respectively, and a $ 173.2 million loss and a $ 4.6 million gain, net of taxes, on the remeasurement of intercompany loans for the six months ended June 30, 2020 and 2019, respectively, due to changes in foreign exchange rates. As of June 30, 2020 and December 31, 2019, the aggregate amount outstanding under the intercompany loan agreements subject to remeasurement with the Company’s foreign subsidiaries was $ 915.1 million and $ 899.7 million, respectively. Coronavirus On January 20, 2020, the World Health Organization declared a “public health emergency of international concern” related to the emergence of the Coronavirus (“COVID-19”) outbreak which could negatively affect the global economy. As of June 30, 2020, the Company has experienced minimal impact to its business or the consolidated financial statements from COVID-19. The extent to which COVID-19 could adversely affect the Company’s future business operations will depend on future developments such as the duration of the outbreak, new information on the severity of COVID-19, and methods taken to contain or treat the outbreak of COVID-19. While the full impact of COVID-19 is not yet known, the Company will continue to monitor this recent outbreak and the potential effects on its business. Credit Losses Effective January 1, 2020, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) prospectively. ASU 2016-13 replaces the incurred loss impairment model with an expected credit loss impairment model for financial instruments, including trade receivables. The amendment requires entities to consider forward-looking information to estimate expected credit losses over the lifetime of the asset, resulting in earlier recognition of losses for receivables that are current or not yet due, which were not considered under the previous accounting guidance. The impact of the adoption of ASU 2016-13 was not material individually or in the aggregate to the Company. ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments – Credit Losses (“ASU 2018-19”) clarified that operating lease receivables are not within the scope of ASC 326-20 and should instead be accounted for under the new leasing standard, ASC 842. The Company is exposed to credit losses primarily through the site development business segment which provides consulting and construction related services The Company’s expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions, and a review of the current status of customers’ trade accounts receivables. Due to the short-term nature of such receivables, the estimate of amount of accounts receivable that may not be collected is based on aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company’s monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers’ financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible. Reference Rate Reform ASU 2020-04, Reference Rate Reform, provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments are effective for all entities as of March 12, 2020 through December 31, 2022. As of June 30, 2020, the Company has not modified any contracts as a result of reference rate reform and is evaluating the impact this standard may have on its consolidated financial statements.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Measurements [Abstract]
Fair Value Measurements	2. FAIR VALUE MEASUREMENTS Items Measured at Fair Value on a Recurring Basis — 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 six months ended June 30, ended June 30, 2020 2019 2020 2019 Asset impairment (1) $ 5,424 $ 4,282 $ 16,432 $ 7,585 Write-off of carrying value of decommissioned towers 739 5,007 3,439 7,164 Other (including third party decommission costs) 79 331 726 642 Total asset impairment and decommission costs $ 6,242 $ 9,620 $ 20,597 $ 15,391 (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. The Company’s estimate of its short term investments are based primarily upon Level 1 reported market values. As of June 30, 2020 and December 31, 2019, the Company had $ 225.9 million and $ 0.5 million of short-term investments. For the three months ended June 30, 2020, the Company purchased $ 525.0 million and sold $ 300.0 million of short-term investments. For the six months ended June 30, 2020, the Company purchased $ 1.1 billion and sold $ 0.9 billion of short-term investments. 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. For discussion of the Company’s derivatives and hedging activities, refer to Note 17.

Cash, Cash Equivalents, and Res

Cash, Cash Equivalents, and Restricted Cash	6 Months Ended
	Jun. 30, 2020
Cash, Cash Equivalents, and Restricted Cash [Abstract]
Cash, Cash Equivalents, and Restricted Cash	3. CASH, CASH EQUIVALENTS, AND 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 June 30, 2020 December 31, 2019 Included on Balance Sheet (in thousands) Cash and cash equivalents $ 207,487 $ 108,309 Securitization escrow accounts 41,524 30,046 Restricted cash - current asset Payment and performance bonds 160 197 Restricted cash - current asset Surety bonds and workers compensation 2,467 2,568 Other assets - noncurrent Total cash, cash equivalents, and restricted cash $ 251,638 $ 141,120 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 June 30, 2020 and December 31, 2019, the Company had $ 41.3 million and $ 41.7 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 June 30, 2020 and December 31, 2019, the Company had also pledged $ 2.3 million as collateral related to its workers’ compensation policy.

Costs and Estimated Earnings on

Costs and Estimated Earnings on Uncompleted Contracts	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 December 31, 2019 (in thousands) Costs incurred on uncompleted contracts $ 46,688 $ 52,339 Estimated earnings 18,244 19,954 Billings to date ( 46,647 ) ( 47,401 ) $ 18,285 $ 24,892 These amounts are included in the Consolidated Balance Sheets under the following captions: As of As of June 30, 2020 December 31, 2019 (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 18,877 $ 26,313 Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities) ( 592 ) ( 1,421 ) $ 18,285 $ 24,892 At June 30, 2020 and December 31, 2019, eight customers comprised 95.8 % and 94.4 % of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings, respectively.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets and Other Assets	6 Months Ended
	Jun. 30, 2020
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Prepaid Expenses and Other Current Assets and Other Assets	5. 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 June 30, 2020 December 31, 2019 (in thousands) Prepaid ground rent $ 2,354 $ 1,632 Prepaid real estate taxes 1,927 3,003 Prepaid taxes 6,748 4,924 Other 27,861 27,188 Total prepaid expenses and other current assets $ 38,890 $ 36,747 The Company’s other assets are comprised of the following: As of As of June 30, 2020 December 31, 2019 (in thousands) Straight-line rent receivable $ 318,791 $ 330,660 Interest rate swap asset (1) 116,451 47,583 Loan receivables 11,794 8,295 Deferred lease costs, net 4,781 4,865 Deferred tax asset - long term 69,978 4,342 Other 35,955 36,333 Total other assets $ 557,750 $ 432,078 (1) Refer to Note 17 for more information on the Company’s interest rate swaps.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2020
Acquisitions [Abstract]
Acquisitions	6. ACQUISITIONS The following table summarizes the Company’s acquisition activity: For the three months For the six months ended June 30, ended June 30, 2020 2019 2020 2019 (in thousands) Acquisitions of towers and related intangible assets (1) $ 17,150 $ 83,264 $ 99,424 $ 125,412 Land buyouts and other assets (2) 12,354 12,631 19,611 25,770 Total cash acquisition capital expenditures $ 29,504 $ 95,895 $ 119,035 $ 151,182 (1) The six months ended June 30, 2019 excludes $ 1.7 million of acquisition costs funded through the issuance of 10,000 shares of Class A common stock. (2) In addition, the Company paid $ 1.6 million and $ 3.5 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended June 30, 2020 and 2019, respectively, and paid $ 3.6 million and $ 6.7 million for ground lease extensions and term easements on land underlying the Company’s towers during the six months ended June 30, 2020 and 2019, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets. During the six months ended June 30, 2020, the Company allocated the purchase price of 85 acquired towers and related assets and liabilities consisting of $ 12.9 million of property and equipment, $ 82.3 million of intangible assets, and $ 4.2 million of other net assets and liabilities assumed. All acquisitions in the three and six months ended June 30, 2020 were accounted for as asset acquisitions. Subsequent to June 30, 2020, the Company acquired 25 towers and related assets and one data center for $ 61.6 million in cash. The maximum potential obligation related to the performance targets for acquisitions, which have not been recorded on the Company’s Consolidated Balance Sheet, were $ 27.1 million and $ 29.7 million as of June 30, 2020 and December 31, 2019, respectively.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 December 31, 2019 (in thousands) Towers and related components $ 5,122,198 $ 5,164,104 Construction-in-process (1) 33,046 33,644 Furniture, equipment, and vehicles 50,247 51,654 Land, buildings, and improvements 751,680 736,378 Total property and equipment 5,957,171 5,985,780 Less: accumulated depreciation ( 3,298,282 ) ( 3,191,178 ) Property and equipment, net $ 2,658,889 $ 2,794,602 (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. Depreciation expense was $ 71.3 million and $ 69.5 million for the three months ended June 30, 2020 and 2019, respectively, and $ 143.2 million and $ 138.6 million for the six months ended June 30, 2020 and 2019, respectively. At June 30, 2020 and December 31, 2019, unpaid capital expenditures that are included in accounts payable and accrued expenses were $ 8.9 million and $ 14.7 million, respectively.

Intangible Assets, Net

Intangible Assets, Net	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 As of December 31, 2019 Gross carrying Accumulated Net book Gross carrying Accumulated Net book amount amortization value amount amortization value (in thousands) Current contract intangibles $ 4,703,085 $ ( 2,298,491 ) $ 2,404,594 $ 4,996,591 $ ( 2,218,404 ) $ 2,778,187 Network location intangibles 1,728,974 ( 959,001 ) 769,973 1,764,484 ( 915,898 ) 848,586 Intangible assets, net $ 6,432,059 $ ( 3,257,492 ) $ 3,174,567 $ 6,761,075 $ ( 3,134,302 ) $ 3,626,773 All intangible assets noted above are included in the Company’s site leasing segment. Amortization expense relating to the intangible assets above was $ 107.4 million and $ 102.0 million for the three months ended June 30, 2020 and 2019, respectively, and $ 218.0 million and $ 203.8 million for the six months ended June 30, 2020 and 2019, respectively.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2020
Accrued Expenses [Abstract]
Accrued Expenses	9. ACCRUED EXPENSES The Company’s accrued expenses are comprised of the following: As of As of June 30, 2020 December 31, 2019 (in thousands) Salaries and benefits $ 15,257 $ 19,838 Real estate and property taxes 11,134 9,598 Unpaid capital expenditures 8,884 14,669 Other 30,306 23,513 Total accrued expenses $ 65,581 $ 67,618

Debt

Debt	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 December 31, 2019 Maturity Date Principal Balance Fair Value Carrying Value Principal Balance Fair Value Carrying Value Revolving Credit Facility Apr. 11, 2023 $ — $ — $ — $ 490,000 $ 490,000 $ 490,000 2018 Term Loan Apr. 11, 2025 2,352,000 2,269,680 2,335,750 2,364,000 2,369,910 2,346,183 2013-2C Tower Securities (1) Apr. 11, 2023 575,000 606,211 571,459 575,000 585,954 570,866 2014-2C Tower Securities (1) Oct. 8, 2024 620,000 678,522 615,663 620,000 644,912 615,205 2015-1C Tower Securities (1) Oct. 8, 2020 500,000 502,605 499,298 500,000 502,095 498,090 2016-1C Tower Securities (1) Jul. 9, 2021 700,000 712,838 697,930 700,000 704,095 696,936 2017-1C Tower Securities (1) Apr. 11, 2022 760,000 781,113 756,104 760,000 763,405 755,061 2018-1C Tower Securities (1) Mar. 9, 2023 640,000 679,430 635,187 640,000 658,266 634,344 2019-1C Tower Securities (1) Jan. 12, 2025 1,165,000 1,229,017 1,154,002 1,165,000 1,158,057 1,153,086 2014 Senior Notes Jul. 15, 2022 — — — 750,000 760,313 743,580 2016 Senior Notes Sep. 1, 2024 1,100,000 1,126,125 1,087,566 1,100,000 1,142,625 1,086,241 2017 Senior Notes Oct. 1, 2022 750,000 753,750 745,728 750,000 764,063 744,833 2020 Senior Notes Feb. 15, 2027 1,500,000 1,496,250 1,480,881 — — — Total debt $ 10,662,000 $ 10,835,541 $ 10,579,568 $ 10,414,000 $ 10,543,695 $ 10,334,425 Less: current maturities of long-term debt ( 24,000 ) ( 522,090 ) Total long-term debt, net of current maturities $ 10,555,568 $ 9,812,335 (1) The maturity date represents the anticipated repayment date for each issuance. The table below reflects cash and non-cash interest expense amounts recognized by debt instrument for the periods presented: For the three months ended June 30, For the six months ended June 30, Interest 2020 2019 2020 2019 Rates as of Cash Non-cash Cash Non-cash Cash Non-cash Cash Non-cash June 30, 2020 Interest Interest Interest Interest Interest Interest Interest Interest (in thousands) Revolving Credit Facility 1.597 % $ 1,661 $ — $ 1,564 $ — $ 4,375 $ — $ 4,401 $ — 2018 Term Loan (1) 3.464 % 20,950 2,030 26,944 190 43,152 4,052 53,866 376 2013-2C Tower Securities 3.722 % 5,396 — 5,396 — 10,792 — 10,792 — 2014 Tower Securities (2) 3.869 % 6,046 — 12,785 — 12,092 — 25,569 — 2015-1C Tower Securities 3.156 % 3,985 — 3,985 — 7,969 — 7,969 — 2016-1C Tower Securities 2.877 % 5,090 — 5,090 — 10,181 — 10,181 — 2017-1C Tower Securities 3.168 % 6,088 — 6,088 — 12,173 — 12,173 — 2018-1C Tower Securities 3.448 % 5,570 — 5,570 — 11,141 — 11,141 — 2019-1C Tower Securities 2.836 % 8,357 — — — 16,714 — — — 2014 Senior Notes 4.875 % — — 9,141 199 3,352 112 18,281 395 2016 Senior Notes 4.875 % 13,406 275 13,406 262 26,813 547 26,813 521 2017 Senior Notes 4.000 % 7,500 — 7,500 — 15,000 — 15,000 — 2020 Senior Notes 3.875 % 11,571 32 — — 17,707 32 — — Other 67 — ( 22 ) — 77 — ( 72 ) — Total $ 95,687 $ 2,337 $ 97,447 $ 651 $ 191,538 $ 4,743 $ 196,114 $ 1,292 (1) The 2018 Term Loan has a blended rate of 3.464 % which includes the impact of the interest rate swaps entered into in 2019 which swapped $ 1.95 billion of notional value accruing interest at one month LIBOR plus 175 basis points for a fixed rate of 3.78 % per annum through the maturity date of the 2018 Term Loan. Excluding the impact of the interest rate swaps, the 2018 Term Loan was accruing interest at 1.93 % as of June 30, 2020. (2) The 2014-1C Tower Securities, which was repaid September 13, 2019, accrued interest at 2.898 %. The 2014-2C Tower Securities accrue interest at 3.869 %. Revolving Credit Facility under the Senior Credit Agreement During the three months ended June 30, 2020, the Company borrowed $ 15.0 million and repaid $ 500.0 million of the outstanding balance under the Revolving Credit Facility. During the six months ended June 30, 2020, the Company borrowed $ 515.0 million and repaid $ 1.0 billion of the outstanding balance under the Revolving Credit Facility. As of June 30, 2020, the Company had no amount outstanding under the $ 1.25 billion Revolving Credit Facility. In addition, SBA Senior Finance II was required to pay a commitment fee of 0.25 % per annum on the amount of the unused commitment. As of June 30, 2020, SBA Senior Finance II was in compliance with the financial covenants contained in the Senior Credit Agreement. As of the date of this filing, the Company had no amount outstanding under the Revolving Credit Facility. Term Loan under the Senior Credit Agreement During the three and six months ended June 30, 2020, the Company repaid an aggregate of $ 6.0 million and $ 12.0 million, respectively, of principal on the 2018 Term Loan. As of June 30, 2020, the 2018 Term Loan had a principal balance of $ 2.4 billion. Secured Tower Revenue Securities As of June 30, 2020, 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 (defined below) consists of a non-recourse mortgage loan made in favor of the Borrowers. 2020 Tower Securities On July 14, 2020, the Company, through a New York common law trust (the “Trust”), issued $ 750.0 million of 1.884 % Secured Tower Revenue Securities Series 2020-1C which have an anticipated repayment date of January 9, 2026 and a final maturity date of July 11, 2050 (the “2020-1C Tower Securities”) and $ 600.0 million of 2.328 % Secured Tower Revenue Securities Series 2020-2C which have an anticipated repayment date of January 11, 2028 and a final maturity date of July 9, 2052 (the “2020-2C Tower Securities”) (collectively the “2020 Tower Securities”). The aggregate $ 1.35 billion of 2020 Tower Securities have a blended interest rate of 2.081 % and a weighted average life through the anticipated repayment date of 6.4 years. Net proceeds from this offering were used to repay the entire aggregate principal amount of the 2015-1C Tower Securities ($ 500.0 million) and the 2016-1C Tower Securities ($ 700.0 million). The remaining net proceeds were used for general corporate purposes. The Company has incurred deferred financing fees of $ 13.6 million to date in relation to this transaction which are being amortized through the anticipated repayment date of the 2020 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 $ 71.1 million of Secured Tower Revenue Securities Series 2020-2R issued by the Trust. These securities have an anticipated repayment date of January 11, 2028 and a final maturity date of July 9, 2052 (the “2020-2R Tower Securities”). The fixed interest rate on the 2020-2R Tower Securities is 4.336 % per annum, payable monthly. Principal and interest payments made on the 2020-2R Tower Securities eliminate in consolidation. Senior Notes 2014 Senior Notes On February 20, 2020, the Company redeemed the entire $ 750.0 million balance of the 2014 Senior Notes with proceeds from the 2020 Senior Notes (defined below). In addition, the Company paid a $ 9.1 million call premium and expensed $ 7.7 million for the write-off of the original issue discount and financing fees related to the redemption of the 2014 Senior Notes which are reflected in loss from extinguishment of debt on the Consolidated Statement of Operations. 2020 Senior Notes On February 4, 2020, the Company issued $ 1.0 billion of unsecured senior notes at par value (the “2020-1 Senior Notes”). On May 26, 2020, the Company issued $ 500.0 million of additional unsecured senior notes under the same indenture at 99.500 % of par value (the “2020-2 Senior Notes”). These notes, collectively the “2020 Senior Notes,” accrue interest at a rate of 3.875 % per annum and are due February 15, 2027 . Interest on the 2020 Senior Notes is due semi-annually on February 15 and August 15 of each year, beginning on August 15, 2020. Net proceeds from these offerings were used to redeem all of the outstanding principal amount of the 2014 Senior Notes, repay amounts outstanding under the Revolving Credit Facility, and for general corporate purposes. The Company incurred financing fees of $ 17.3 million to date in relation to these transactions, which are being amortized through the maturity date. The 2020 Senior Notes are subject to redemption in whole or in part on or after February 15, 2023 at the redemption prices set forth in the indenture agreement plus accrued and unpaid interest. Prior to February 15, 2023 , the Company may, at its option, redeem up to 35 % of the aggregate principal amount of the 2020 Senior Notes originally issued at a redemption price of 103.875 % of the principal amount of the 2020 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 2020 Senior Notes during the twelve-month period beginning on the following dates at the following redemption prices: February 15, 2023 at 101.938 %, February 15, 2024 at 100.969 %, or February 15, 2025 until maturity at 100.000 %, of the principal amount of the 2020 Senior Notes to be redeemed on the redemption date plus accrued and unpaid interest.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2020
Shareholders' Equity [Abstract]
Shareholders' Equity	11. SHAREHOLDERS’ EQUITY Common Stock Equivalents The Company has outstanding stock options, time-based restricted stock units (“RSUs”), and performance-based restricted stock units (“PSUs”) which were considered in the Company’s diluted earnings per share calculation (see Note 15). Stock Repurchases The Company’s Board of Directors authorizes the Company to purchase, from time to time, 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. Once authorized, the repurchase 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. Shares repurchased are retired. As of the date of this filing, the Company had $ 424.3 million of authorization remaining under the current stock repurchase plan. The following is a summary of the Company’s share repurchases: For the three months For the six months ended June 30, ended June 30, 2020 2019 2020 2019 Total number of shares purchased (in millions) (1) — 0.5 0.8 0.5 Average price paid per share (1) $ — $ 204.06 $ 242.86 $ 204.06 Total price paid (in millions) (1) $ — $ 94.6 $ 200.0 $ 94.6 (1) Amounts are calculated based on the trade date. For the six months ended June 30, 2020, this differs from the Consolidated Statements of Cash Flows which calculate share repurchases based on the settlement date and includes an additional $ 3.3 million spent to repurchase 13,870 shares which settled on January 2, 2020. Dividends As of June 30, 2020, the Company paid the following cash dividends: Payable to Shareholders of Record At the Close Cash Paid Aggregate Amount Date Declared of Business on Per Share Paid Date Paid February 20, 2020 March 10, 2020 $ 0.465 $ 52.2 million March 26, 2020 May 5, 2020 May 28, 2020 $ 0.465 $ 52.0 million June 18, 2020 Subsequent to June 30, 2020, the Company declared the following cash dividends: Payable to Shareholders Cash to of Record At the Close be Paid Date Declared of Business on Per Share Date to be Paid August 3, 2020 August 25, 2020 $ 0.465 September 22, 2020

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Stock-Based Compensation [Abstract]
Stock-Based Compensation	12. STOCK-BASED COMPENSATION Commencing with the 2020 equity award, the Company modified the type of equity granted to certain employees to align long-term compensation with Company performance. Under the new structure, the Company continued to issue RSUs; however, RSUs will now vest ratably over three years rather than four years . The Company further replaced stock options with PSUs which will cliff vest at the end of three years . PSUs have performance metrics for which threshold, target, and maximum parameters are established at the time of the grant. The performance metrics are used to calculate the number of shares that will be issuable when the awards vest, which may range from zero to 200 % of the target amounts. At the end of each three year performance period, the number of shares that vest will depend on the results achieved against the pre-established performance metrics. The Company recognizes compensation expense for RSUs and PSUs on a straight-line basis over the vesting period; however, compensation expense related to certain PSUs are subject to adjustment on performance relative to the established targets. Furthermore, effective with the 2020 grant, RSUs and PSUs will accrue dividend equivalents prior to vesting, which will be paid out only in respect to shares that actually vest. On February 25, 2020, the Company’s 2010 Performance and Equity Incentive Plan (the “2010 Plan”) expired by its terms. On May 14, 2020, the Company’s shareholders approved the 2020 Performance and Equity Incentive Plan (the “2020 Plan”) which provides for the issuance of a maximum of 3.0 million shares of the Company’s Class A common stock (of which approximately 3.0 million shares remain available for future issuance as of June 30, 2020). The 2020 Plan also provides for the issuance of additional shares of Class A common stock (a) subject to awards granted under the 2010 Plan that may become available for issuance or reissuance, as applicable, under the 2020 Plan if such awards are forfeited or are settled in cash or otherwise expire or terminate without the delivery of the shares or (b) which become issuable under the 2020 Plan by reason of any stock dividend, stock split, recapitalization or other similar transaction effected without the receipt of consideration which results in an increase in the number of outstanding shares of Class A common stock. 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 six months ended June 30, 2020 2019 Risk free interest rate 1.66 % 1.84 % - 2.47 % Dividend yield 1.3 % 1.3 % Expected volatility 20 % 20 % 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 six months ended June 30, 2020 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, 2019 4,507 $ 133.68 Granted 10 $ 240.99 Exercised ( 1,164 ) $ 109.72 Forfeited/canceled ( 19 ) $ 171.25 Outstanding at June 30, 2020 3,334 $ 142.15 4.2 $ 519,323 Exercisable at June 30, 2020 1,821 $ 124.40 3.5 $ 316,048 Unvested at June 30, 2020 1,513 $ 163.53 5.1 $ 203,275 The weighted-average per share fair value of options granted during the six months ended June 30, 2020 was $ 41.09 . The total intrinsic value for options exercised during the six months ended June 30, 2020 was $ 211.2 million. Restricted Stock Units and Performance-Based Restricted Stock Units The following table summarizes the Company’s RSU and PSU activity for the six months ended June 30, 2020: RSUs PSUs Weighted-Average Weighted-Average Number of Grant Date Fair Number of Grant Date Fair Shares Value per Share Shares Value per Share (in thousands) (in thousands) Outstanding at December 31, 2019 313 $ 152.98 — $ — Granted (1) 98 $ 290.67 149 $ 375.81 Vested ( 129 ) $ 141.90 — $ — Forfeited/canceled ( 5 ) $ 190.95 — $ — Outstanding at June 30, 2020 277 $ 206.26 149 $ 375.81 (1) PSUs represent the target number of shares granted that are issuable at the end of the three year performance period. Fair value for a portion of the PSUs was calculated using a Monte Carlo simulation model.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
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 TRS 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 $ 652.9 million as of December 31, 2019, 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	6 Months Ended
	Jun. 30, 2020
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 June 30, 2020 (in thousands) Revenues $ 388,018 $ 94,385 $ 24,823 $ — $ 507,226 Cost of revenues (2) 64,093 27,505 19,904 — 111,502 Operating profit 323,925 66,880 4,919 — 395,724 Selling, general, and administrative expenses 25,233 9,035 4,494 10,326 49,088 Acquisition and new business initiatives related adjustments and expenses 3,004 1,630 — — 4,634 Asset impairment and decommission costs 5,342 900 — — 6,242 Depreciation, amortization and accretion 134,569 42,011 597 1,529 178,706 Operating income (loss) 155,777 13,304 ( 172 ) ( 11,855 ) 157,054 Other expense (principally interest expense and other income (expense)) ( 134,101 ) ( 134,101 ) Income before income taxes 22,953 Cash capital expenditures (3) 38,507 17,201 282 1,202 57,192 For the three months ended June 30, 2019 Revenues $ 369,180 $ 89,823 $ 41,144 $ — $ 500,147 Cost of revenues (2) 65,576 27,884 30,988 — 124,448 Operating profit 303,604 61,939 10,156 — 375,699 Selling, general, and administrative expenses 27,193 8,310 6,885 13,136 55,524 Acquisition and new business initiatives related adjustments and expenses 1,272 1,267 — — 2,539 Asset impairment and decommission costs 8,815 805 — — 9,620 Depreciation, amortization and accretion 131,413 38,194 678 1,279 171,564 Operating income (loss) 134,911 13,363 2,593 ( 14,415 ) 136,452 Other expense (principally interest expense and other income (expense)) ( 88,871 ) ( 88,871 ) Income before income taxes 47,581 Cash capital expenditures (3) 113,200 18,411 883 624 133,118 Domestic Site Int'l Site Site Leasing Leasing Development Other Total For the six months ended June 30, 2020 (in thousands) Revenues $ 774,361 $ 200,397 $ 49,534 $ — $ 1,024,292 Cost of revenues (2) 127,997 59,400 39,620 — 227,017 Operating profit 646,364 140,997 9,914 — 797,275 Selling, general, and administrative expenses 52,555 16,966 8,950 20,233 98,704 Acquisition and new business initiatives related adjustments and expenses 5,601 2,832 — — 8,433 Asset impairment and decommission costs 16,168 4,429 — — 20,597 Depreciation, amortization and accretion 268,375 88,623 1,213 3,074 361,285 Operating income (loss) 303,665 28,147 ( 249 ) ( 23,307 ) 308,256 Other expense (principally interest expense and other income (expense)) ( 479,774 ) ( 479,774 ) Loss before income taxes ( 171,518 ) Cash capital expenditures (3) 139,813 43,634 1,064 2,396 186,907 For the six months ended June 30, 2019 Revenues $ 732,017 $ 179,169 $ 82,254 $ — $ 993,440 Cost of revenues (2) 130,690 55,485 62,089 — 248,264 Operating profit 601,327 123,684 20,165 — 745,176 Selling, general, and administrative expenses 56,086 13,998 12,591 23,808 106,483 Acquisition and new business initiatives related adjustments and expenses 1,980 2,996 — — 4,976 Asset impairment and decommission costs 12,449 2,942 — — 15,391 Depreciation, amortization and accretion 261,657 76,989 1,240 2,716 342,602 Operating income (loss) 269,155 26,759 6,334 ( 26,524 ) 275,724 Other expense (principally interest expense and other income (expense)) ( 191,947 ) ( 191,947 ) Income before income taxes 83,777 Cash capital expenditures (3) 174,710 47,928 1,808 1,199 225,645 Domestic Site Int'l Site Site Leasing Leasing Development Other (1) Total Assets (in thousands) As of June 30, 2020 $ 5,996,130 $ 2,893,042 $ 50,702 $ 450,665 $ 9,390,539 As of December 31, 2019 $ 6,157,511 $ 3,381,448 $ 81,772 $ 139,210 $ 9,759,941 (1) Assets in Other consist primarily of general corporate assets and short-term investments. (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 $ 115.3 million and $ 111.9 million for the six months ended June 30, 2020 and 2019, respectively. Total long-lived assets in Brazil were $ 1.0 billion and $ 1.4 billion as of June 30, 2020 and December 31, 2019, respectively.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings Per Share	15. EARNINGS PER SHARE Basic earnings per share was computed by dividing net income (loss) attributable to SBA Communications Corporation 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 SBA Communications Corporation by the weighted-average number of shares of Common Stock outstanding adjusted for any dilutive Common Stock equivalents, including unvested RSUs, PSUs, 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 six months ended June 30, 2020 and 2019 (in thousands, except per share data): For the three months For the six months ended June 30, ended June 30, 2020 2019 2020 2019 Numerator: Net income (loss) attributable to SBA Communications Corporation $ 22,813 $ 31,973 $ ( 104,247 ) $ 57,962 Denominator: Basic weighted-average shares outstanding 111,738 113,205 111,823 112,958 Dilutive impact of stock options and restricted shares 1,896 1,735 — 1,685 Diluted weighted-average shares outstanding 113,634 114,940 111,823 114,643 Net income (loss) per common share attributable to SBA Communications Corporation: Basic $ 0.20 $ 0.28 $ ( 0.93 ) $ 0.51 Diluted $ 0.20 $ 0.28 $ ( 0.93 ) $ 0.51 For the three months ended June 30, 2020, the diluted weighted average number of common shares outstanding excluded an additional 3,467 shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive. For the six months ended June 30, 2020, all potential common stock equivalents, including 3.3 million shares of stock options outstanding, 0.3 million shares of RSUs outstanding, and 0.1 million shares of PSUs outstanding, were excluded as the effect would be anti-dilutive. For the three and six months ended June 30, 2019, the diluted weighted average number of common shares outstanding excluded an additional 0.7 million shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests	6 Months Ended
	Jun. 30, 2020
Redeemable Noncontrolling Interests [Abstract]
Redeemable Noncontrolling Interests	16. REDEEMABLE NONCONTROLLING INTERESTS 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. As of June 30, 2020, the fair market value of the 6 % noncontrolling interest was $ 14.3 million. The fair value assigned to the redeemable noncontrolling interest is estimated using Level 3 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 are as follows (in thousands): For the three months ended For the six months ended June 30, 2020 June 30, 2020 Beginning balance $ 14,478 $ 16,052 Foreign currency translation adjustments 180 ( 1,004 ) Adjustment to fair value ( 614 ) ( 130 ) Net (loss) income attributable to noncontrolling interests 305 ( 569 ) Ending balance $ 14,349 $ 14,349

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Jun. 30, 2020
Derivatives and Hedging Activities [Abstract]
Derivatives and Hedging Activities	17. DERIVATIVES AND HEDGING ACTIVITIES The Company enters into interest rate swaps to hedge the future interest expense from variable rate debt and reduce the Company’s exposure to fluctuations in interest rates. The Company has an interest rate swap which has been designated as a cash flow hedge. As of June 30, 2020, the hedge remains highly effective; therefore, subsequent changes in the fair value are recorded in Accumulated other comprehensive loss, net. The Company has interest rate swaps that are not designated as cash flow hedges. On a quarterly basis, the Company re-evaluates the fair value of the interest rate swaps using Level 2 inputs, and any changes in the fair value are recorded as gains or losses on the interest rate swap in Other income (expense), net. Additionally, 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 disclosures below provide additional information about the effects of these interest rate swaps on the Consolidated Balance Sheets, Consolidated Statements of Operations, Consolidated Statements of Comprehensive Income (Loss), and Consolidated Statements of Shareholders’ Deficit. The cash flows associated with all of these activities are reported in Net cash provided by operating activities on the Consolidated Statements of Cash Flows. The table below outlines the effects of the Company’s interest rate swaps on the Consolidated Balance Sheets as of June 30, 2020 and December 31, 2019. Fair Value as of Balance Sheet June 30, December 31, Location 2020 2019 Derivatives Designated as Hedging Instruments (in thousands) Interest rate swap agreement in a fair value liability position Other long-term liabilities $ 162,260 $ 42,698 Derivatives Not Designated as Hedging Instruments Interest rate swap agreements in a fair value asset position Other assets $ 116,451 $ 47,583 Interest rate swap agreements in a fair value liability position Other long-term liabilities $ 113,259 $ 47,583 The table below outlines the effects of the Company’s derivatives on the Consolidated Statements of Operations and Consolidated Statements of Shareholders’ Deficit for the three and six month periods ended June 30, 2020 and 2019. For the three months For the six months ended June 30, ended June 30, 2020 2019 2020 2019 Cash Flow Hedge - Interest Rate Swap Agreement (in thousands) Change in fair value recorded in Accumulated other comprehensive loss, net $ ( 17,326 ) $ — $ ( 125,208 ) $ — Amount recognized in Non-cash interest expense $ ( 2,822 ) $ — $ ( 5,646 ) $ — Derivatives Not Designated as Hedges - Interest Rate Swap Agreements Amount reclassified from Accumulated other comprehensive loss, net into Non-cash interest expense $ 4,642 $ — $ 9,285 $ — Change in fair value recorded in Other income (expense), net $ ( 774 ) $ — $ 3,192 $ — On August 6, 2020, the Company terminated an interest rate swap designated as a hedged instrument in exchange for a payment of $ 176.2 million. On the same date, the Company entered into an interest rate swap with $ 1.95 billion of notional value receiving interest at one month LIBOR for a fixed rate of 0.1239 % per annum settled monthly through the maturity date of the 2018 Term Loan.

Concentration of Credit Risk

Concentration of Credit Risk	6 Months Ended
	Jun. 30, 2020
Concentration of Credit Risk [Abstract]
Concentration of Credit Risk	18. CONCENTRATION OF CREDIT RISK The Company’s credit risks consist primarily of accounts receivable with national, regional, and local wireless service providers and federal and state government agencies. The Company performs periodic credit evaluations of its customers’ financial condition and provides allowances for doubtful accounts, as required, based upon factors surrounding the credit risk of specific customers, historical trends, and other information. The Company generally does not require collateral. On April 1, 2020, T-Mobile finalized a merger with Sprint and now operates as T-Mobile. For the three months ended June 30, 2020, T-Mobile represented 40.4 % of the Company’s total domestic site leasing revenue and 53.0 % of the Company’s site development revenue. For the six months ended June 30, 2020, T-Mobile represented 40.8 % of the Company’s total domestic site leasing revenue and 53.8 % of the Company’s site development revenue.

Basis of Presentation (Policy)

Basis of Presentation (Policy)	6 Months Ended
	Jun. 30, 2020
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, 2019 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 $ 20.4 million loss and a $ 6.0 million gain, net of taxes, on the remeasurement of intercompany loans for the three months ended June 30, 2020 and 2019, respectively, and a $ 173.2 million loss and a $ 4.6 million gain, net of taxes, on the remeasurement of intercompany loans for the six months ended June 30, 2020 and 2019, respectively, due to changes in foreign exchange rates. As of June 30, 2020 and December 31, 2019, the aggregate amount outstanding under the intercompany loan agreements subject to remeasurement with the Company’s foreign subsidiaries was $ 915.1 million and $ 899.7 million, respectively.
Coronavirus	Coronavirus On January 20, 2020, the World Health Organization declared a “public health emergency of international concern” related to the emergence of the Coronavirus (“COVID-19”) outbreak which could negatively affect the global economy. As of June 30, 2020, the Company has experienced minimal impact to its business or the consolidated financial statements from COVID-19. The extent to which COVID-19 could adversely affect the Company’s future business operations will depend on future developments such as the duration of the outbreak, new information on the severity of COVID-19, and methods taken to contain or treat the outbreak of COVID-19. While the full impact of COVID-19 is not yet known, the Company will continue to monitor this recent outbreak and the potential effects on its business.
Credit Losses	Credit Losses Effective January 1, 2020, the Company adopted ASU 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”) prospectively. ASU 2016-13 replaces the incurred loss impairment model with an expected credit loss impairment model for financial instruments, including trade receivables. The amendment requires entities to consider forward-looking information to estimate expected credit losses over the lifetime of the asset, resulting in earlier recognition of losses for receivables that are current or not yet due, which were not considered under the previous accounting guidance. The impact of the adoption of ASU 2016-13 was not material individually or in the aggregate to the Company. ASU 2018-19, Codification Improvements to Topic 326, Financial Instruments – Credit Losses (“ASU 2018-19”) clarified that operating lease receivables are not within the scope of ASC 326-20 and should instead be accounted for under the new leasing standard, ASC 842. The Company is exposed to credit losses primarily through the site development business segment which provides consulting and construction related services The Company’s expected loss allowance methodology for accounts receivable is developed using historical collection experience, current and future economic and market conditions, and a review of the current status of customers’ trade accounts receivables. Due to the short-term nature of such receivables, the estimate of amount of accounts receivable that may not be collected is based on aging of the accounts receivable balances and the financial condition of customers. Additionally, specific allowance amounts are established to record the appropriate provision for customers that have a higher probability of default. The Company’s monitoring activities include timely account reconciliation, dispute resolution, payment confirmation, consideration of customers’ financial condition and macroeconomic conditions. Balances are written off when determined to be uncollectible.
Reference Rate Reform	Reference Rate Reform ASU 2020-04, Reference Rate Reform, provides optional expedients and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. The amendments are effective for all entities as of March 12, 2020 through December 31, 2022. As of June 30, 2020, the Company has not modified any contracts as a result of reference rate reform and is evaluating the impact this standard may have on its consolidated financial statements.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Measurements [Abstract]
Summary of Asset Impairment and Decommission Costs	For the three months For the six months ended June 30, ended June 30, 2020 2019 2020 2019 Asset impairment (1) $ 5,424 $ 4,282 $ 16,432 $ 7,585 Write-off of carrying value of decommissioned towers 739 5,007 3,439 7,164 Other (including third party decommission costs) 79 331 726 642 Total asset impairment and decommission costs $ 6,242 $ 9,620 $ 20,597 $ 15,391 (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.

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	6 Months Ended
	Jun. 30, 2020
Cash, Cash Equivalents, and Restricted Cash [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	As of As of June 30, 2020 December 31, 2019 Included on Balance Sheet (in thousands) Cash and cash equivalents $ 207,487 $ 108,309 Securitization escrow accounts 41,524 30,046 Restricted cash - current asset Payment and performance bonds 160 197 Restricted cash - current asset Surety bonds and workers compensation 2,467 2,568 Other assets - noncurrent Total cash, cash equivalents, and restricted cash $ 251,638 $ 141,120

Costs and Estimated Earnings _2

Costs and Estimated Earnings on Uncompleted Contracts (Tables)	6 Months Ended
	Jun. 30, 2020
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Summary of Costs and Estimated Earnings on Uncompleted Contracts	As of As of June 30, 2020 December 31, 2019 (in thousands) Costs incurred on uncompleted contracts $ 46,688 $ 52,339 Estimated earnings 18,244 19,954 Billings to date ( 46,647 ) ( 47,401 ) $ 18,285 $ 24,892
Costs and Estimated Earnings on Uncompleted Contracts Accompanying Consolidated Balance Sheets	As of As of June 30, 2020 December 31, 2019 (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 18,877 $ 26,313 Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities) ( 592 ) ( 1,421 ) $ 18,285 $ 24,892

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets and Other Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Schedule of Prepaid Expense and Other Current Assets	As of As of June 30, 2020 December 31, 2019 (in thousands) Prepaid ground rent $ 2,354 $ 1,632 Prepaid real estate taxes 1,927 3,003 Prepaid taxes 6,748 4,924 Other 27,861 27,188 Total prepaid expenses and other current assets $ 38,890 $ 36,747
Schedule of Other Assets	As of As of June 30, 2020 December 31, 2019 (in thousands) Straight-line rent receivable $ 318,791 $ 330,660 Interest rate swap asset (1) 116,451 47,583 Loan receivables 11,794 8,295 Deferred lease costs, net 4,781 4,865 Deferred tax asset - long term 69,978 4,342 Other 35,955 36,333 Total other assets $ 557,750 $ 432,078 (1) Refer to Note 17 for more information on the Company’s interest rate swaps.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2020
Acquisitions [Abstract]
Schedule of Acquisition Capital Expenditures	For the three months For the six months ended June 30, ended June 30, 2020 2019 2020 2019 (in thousands) Acquisitions of towers and related intangible assets (1) $ 17,150 $ 83,264 $ 99,424 $ 125,412 Land buyouts and other assets (2) 12,354 12,631 19,611 25,770 Total cash acquisition capital expenditures $ 29,504 $ 95,895 $ 119,035 $ 151,182 (1) The six months ended June 30, 2019 excludes $ 1.7 million of acquisition costs funded through the issuance of 10,000 shares of Class A common stock. (2) In addition, the Company paid $ 1.6 million and $ 3.5 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended June 30, 2020 and 2019, respectively, and paid $ 3.6 million and $ 6.7 million for ground lease extensions and term easements on land underlying the Company’s towers during the six months ended June 30, 2020 and 2019, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	6 Months Ended
	Jun. 30, 2020
Property and Equipment, Net [Abstract]
Property and Equipment, Net (Including Assets Held Under Capital Leases)	As of As of June 30, 2020 December 31, 2019 (in thousands) Towers and related components $ 5,122,198 $ 5,164,104 Construction-in-process (1) 33,046 33,644 Furniture, equipment, and vehicles 50,247 51,654 Land, buildings, and improvements 751,680 736,378 Total property and equipment 5,957,171 5,985,780 Less: accumulated depreciation ( 3,298,282 ) ( 3,191,178 ) Property and equipment, net $ 2,658,889 $ 2,794,602 (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.

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	6 Months Ended
	Jun. 30, 2020
Intangible Assets, Net [Abstract]
Gross and Net Carrying Amounts for each Major Class of Intangible Assets	As of June 30, 2020 As of December 31, 2019 Gross carrying Accumulated Net book Gross carrying Accumulated Net book amount amortization value amount amortization value (in thousands) Current contract intangibles $ 4,703,085 $ ( 2,298,491 ) $ 2,404,594 $ 4,996,591 $ ( 2,218,404 ) $ 2,778,187 Network location intangibles 1,728,974 ( 959,001 ) 769,973 1,764,484 ( 915,898 ) 848,586 Intangible assets, net $ 6,432,059 $ ( 3,257,492 ) $ 3,174,567 $ 6,761,075 $ ( 3,134,302 ) $ 3,626,773

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2020
Accrued Expenses [Abstract]
Schedule of Accrued Expenses	As of As of June 30, 2020 December 31, 2019 (in thousands) Salaries and benefits $ 15,257 $ 19,838 Real estate and property taxes 11,134 9,598 Unpaid capital expenditures 8,884 14,669 Other 30,306 23,513 Total accrued expenses $ 65,581 $ 67,618

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt [Abstract]
Schedule of Principal Values, Fair Values, and Carrying Values of Debt	As of As of June 30, 2020 December 31, 2019 Maturity Date Principal Balance Fair Value Carrying Value Principal Balance Fair Value Carrying Value Revolving Credit Facility Apr. 11, 2023 $ — $ — $ — $ 490,000 $ 490,000 $ 490,000 2018 Term Loan Apr. 11, 2025 2,352,000 2,269,680 2,335,750 2,364,000 2,369,910 2,346,183 2013-2C Tower Securities (1) Apr. 11, 2023 575,000 606,211 571,459 575,000 585,954 570,866 2014-2C Tower Securities (1) Oct. 8, 2024 620,000 678,522 615,663 620,000 644,912 615,205 2015-1C Tower Securities (1) Oct. 8, 2020 500,000 502,605 499,298 500,000 502,095 498,090 2016-1C Tower Securities (1) Jul. 9, 2021 700,000 712,838 697,930 700,000 704,095 696,936 2017-1C Tower Securities (1) Apr. 11, 2022 760,000 781,113 756,104 760,000 763,405 755,061 2018-1C Tower Securities (1) Mar. 9, 2023 640,000 679,430 635,187 640,000 658,266 634,344 2019-1C Tower Securities (1) Jan. 12, 2025 1,165,000 1,229,017 1,154,002 1,165,000 1,158,057 1,153,086 2014 Senior Notes Jul. 15, 2022 — — — 750,000 760,313 743,580 2016 Senior Notes Sep. 1, 2024 1,100,000 1,126,125 1,087,566 1,100,000 1,142,625 1,086,241 2017 Senior Notes Oct. 1, 2022 750,000 753,750 745,728 750,000 764,063 744,833 2020 Senior Notes Feb. 15, 2027 1,500,000 1,496,250 1,480,881 — — — Total debt $ 10,662,000 $ 10,835,541 $ 10,579,568 $ 10,414,000 $ 10,543,695 $ 10,334,425 Less: current maturities of long-term debt ( 24,000 ) ( 522,090 ) Total long-term debt, net of current maturities $ 10,555,568 $ 9,812,335 (1) The maturity date represents the anticipated repayment date for each issuance.
Schedule of Cash and Non-Cash Interest Expense	For the three months ended June 30, For the six months ended June 30, Interest 2020 2019 2020 2019 Rates as of Cash Non-cash Cash Non-cash Cash Non-cash Cash Non-cash June 30, 2020 Interest Interest Interest Interest Interest Interest Interest Interest (in thousands) Revolving Credit Facility 1.597 % $ 1,661 $ — $ 1,564 $ — $ 4,375 $ — $ 4,401 $ — 2018 Term Loan (1) 3.464 % 20,950 2,030 26,944 190 43,152 4,052 53,866 376 2013-2C Tower Securities 3.722 % 5,396 — 5,396 — 10,792 — 10,792 — 2014 Tower Securities (2) 3.869 % 6,046 — 12,785 — 12,092 — 25,569 — 2015-1C Tower Securities 3.156 % 3,985 — 3,985 — 7,969 — 7,969 — 2016-1C Tower Securities 2.877 % 5,090 — 5,090 — 10,181 — 10,181 — 2017-1C Tower Securities 3.168 % 6,088 — 6,088 — 12,173 — 12,173 — 2018-1C Tower Securities 3.448 % 5,570 — 5,570 — 11,141 — 11,141 — 2019-1C Tower Securities 2.836 % 8,357 — — — 16,714 — — — 2014 Senior Notes 4.875 % — — 9,141 199 3,352 112 18,281 395 2016 Senior Notes 4.875 % 13,406 275 13,406 262 26,813 547 26,813 521 2017 Senior Notes 4.000 % 7,500 — 7,500 — 15,000 — 15,000 — 2020 Senior Notes 3.875 % 11,571 32 — — 17,707 32 — — Other 67 — ( 22 ) — 77 — ( 72 ) — Total $ 95,687 $ 2,337 $ 97,447 $ 651 $ 191,538 $ 4,743 $ 196,114 $ 1,292 (1) The 2018 Term Loan has a blended rate of 3.464 % which includes the impact of the interest rate swaps entered into in 2019 which swapped $ 1.95 billion of notional value accruing interest at one month LIBOR plus 175 basis points for a fixed rate of 3.78 % per annum through the maturity date of the 2018 Term Loan. Excluding the impact of the interest rate swaps, the 2018 Term Loan was accruing interest at 1.93 % as of June 30, 2020. (2) The 2014-1C Tower Securities, which was repaid September 13, 2019, accrued interest at 2.898 %. The 2014-2C Tower Securities accrue interest at 3.869 %.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2020
Shareholders' Equity [Abstract]
Summary of Share Repurchases	For the three months For the six months ended June 30, ended June 30, 2020 2019 2020 2019 Total number of shares purchased (in millions) (1) — 0.5 0.8 0.5 Average price paid per share (1) $ — $ 204.06 $ 242.86 $ 204.06 Total price paid (in millions) (1) $ — $ 94.6 $ 200.0 $ 94.6 (1) Amounts are calculated based on the trade date. For the six months ended June 30, 2020, this differs from the Consolidated Statements of Cash Flows which calculate share repurchases based on the settlement date and includes an additional $ 3.3 million spent to repurchase 13,870 shares which settled on January 2, 2020.
Schedule of Dividends Paid and Dividends Declared	As of June 30, 2020, the Company paid the following cash dividends: Payable to Shareholders of Record At the Close Cash Paid Aggregate Amount Date Declared of Business on Per Share Paid Date Paid February 20, 2020 March 10, 2020 $ 0.465 $ 52.2 million March 26, 2020 May 5, 2020 May 28, 2020 $ 0.465 $ 52.0 million June 18, 2020 Subsequent to June 30, 2020, the Company declared the following cash dividends: Payable to Shareholders Cash to of Record At the Close be Paid Date Declared of Business on Per Share Date to be Paid August 3, 2020 August 25, 2020 $ 0.465 September 22, 2020

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Stock-Based Compensation [Abstract]
Schedule of Assumptions Used to Estimate Fair Value of Stock Options	For the six months ended June 30, 2020 2019 Risk free interest rate 1.66 % 1.84 % - 2.47 % Dividend yield 1.3 % 1.3 % Expected volatility 20 % 20 % 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, 2019 4,507 $ 133.68 Granted 10 $ 240.99 Exercised ( 1,164 ) $ 109.72 Forfeited/canceled ( 19 ) $ 171.25 Outstanding at June 30, 2020 3,334 $ 142.15 4.2 $ 519,323 Exercisable at June 30, 2020 1,821 $ 124.40 3.5 $ 316,048 Unvested at June 30, 2020 1,513 $ 163.53 5.1 $ 203,275
Summary of Restricted Stock Unit and Performance Based Restricted Stock Unit Activity	RSUs PSUs Weighted-Average Weighted-Average Number of Grant Date Fair Number of Grant Date Fair Shares Value per Share Shares Value per Share (in thousands) (in thousands) Outstanding at December 31, 2019 313 $ 152.98 — $ — Granted (1) 98 $ 290.67 149 $ 375.81 Vested ( 129 ) $ 141.90 — $ — Forfeited/canceled ( 5 ) $ 190.95 — $ — Outstanding at June 30, 2020 277 $ 206.26 149 $ 375.81 (1) PSUs represent the target number of shares granted that are issuable at the end of the three year performance period. Fair value for a portion of the PSUs was calculated using a Monte Carlo simulation model.

Segment Data (Tables)

Segment Data (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Data [Abstract]
Schedule of Segment Reporting Information	Domestic Site Int'l Site Site Leasing Leasing Development Other Total For the three months ended June 30, 2020 (in thousands) Revenues $ 388,018 $ 94,385 $ 24,823 $ — $ 507,226 Cost of revenues (2) 64,093 27,505 19,904 — 111,502 Operating profit 323,925 66,880 4,919 — 395,724 Selling, general, and administrative expenses 25,233 9,035 4,494 10,326 49,088 Acquisition and new business initiatives related adjustments and expenses 3,004 1,630 — — 4,634 Asset impairment and decommission costs 5,342 900 — — 6,242 Depreciation, amortization and accretion 134,569 42,011 597 1,529 178,706 Operating income (loss) 155,777 13,304 ( 172 ) ( 11,855 ) 157,054 Other expense (principally interest expense and other income (expense)) ( 134,101 ) ( 134,101 ) Income before income taxes 22,953 Cash capital expenditures (3) 38,507 17,201 282 1,202 57,192 For the three months ended June 30, 2019 Revenues $ 369,180 $ 89,823 $ 41,144 $ — $ 500,147 Cost of revenues (2) 65,576 27,884 30,988 — 124,448 Operating profit 303,604 61,939 10,156 — 375,699 Selling, general, and administrative expenses 27,193 8,310 6,885 13,136 55,524 Acquisition and new business initiatives related adjustments and expenses 1,272 1,267 — — 2,539 Asset impairment and decommission costs 8,815 805 — — 9,620 Depreciation, amortization and accretion 131,413 38,194 678 1,279 171,564 Operating income (loss) 134,911 13,363 2,593 ( 14,415 ) 136,452 Other expense (principally interest expense and other income (expense)) ( 88,871 ) ( 88,871 ) Income before income taxes 47,581 Cash capital expenditures (3) 113,200 18,411 883 624 133,118 Domestic Site Int'l Site Site Leasing Leasing Development Other Total For the six months ended June 30, 2020 (in thousands) Revenues $ 774,361 $ 200,397 $ 49,534 $ — $ 1,024,292 Cost of revenues (2) 127,997 59,400 39,620 — 227,017 Operating profit 646,364 140,997 9,914 — 797,275 Selling, general, and administrative expenses 52,555 16,966 8,950 20,233 98,704 Acquisition and new business initiatives related adjustments and expenses 5,601 2,832 — — 8,433 Asset impairment and decommission costs 16,168 4,429 — — 20,597 Depreciation, amortization and accretion 268,375 88,623 1,213 3,074 361,285 Operating income (loss) 303,665 28,147 ( 249 ) ( 23,307 ) 308,256 Other expense (principally interest expense and other income (expense)) ( 479,774 ) ( 479,774 ) Loss before income taxes ( 171,518 ) Cash capital expenditures (3) 139,813 43,634 1,064 2,396 186,907 For the six months ended June 30, 2019 Revenues $ 732,017 $ 179,169 $ 82,254 $ — $ 993,440 Cost of revenues (2) 130,690 55,485 62,089 — 248,264 Operating profit 601,327 123,684 20,165 — 745,176 Selling, general, and administrative expenses 56,086 13,998 12,591 23,808 106,483 Acquisition and new business initiatives related adjustments and expenses 1,980 2,996 — — 4,976 Asset impairment and decommission costs 12,449 2,942 — — 15,391 Depreciation, amortization and accretion 261,657 76,989 1,240 2,716 342,602 Operating income (loss) 269,155 26,759 6,334 ( 26,524 ) 275,724 Other expense (principally interest expense and other income (expense)) ( 191,947 ) ( 191,947 ) Income before income taxes 83,777 Cash capital expenditures (3) 174,710 47,928 1,808 1,199 225,645 Domestic Site Int'l Site Site Leasing Leasing Development Other (1) Total Assets (in thousands) As of June 30, 2020 $ 5,996,130 $ 2,893,042 $ 50,702 $ 450,665 $ 9,390,539 As of December 31, 2019 $ 6,157,511 $ 3,381,448 $ 81,772 $ 139,210 $ 9,759,941 (1) Assets in Other consist primarily of general corporate assets and short-term investments. (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)	6 Months Ended
	Jun. 30, 2020
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 six months ended June 30, ended June 30, 2020 2019 2020 2019 Numerator: Net income (loss) attributable to SBA Communications Corporation $ 22,813 $ 31,973 $ ( 104,247 ) $ 57,962 Denominator: Basic weighted-average shares outstanding 111,738 113,205 111,823 112,958 Dilutive impact of stock options and restricted shares 1,896 1,735 — 1,685 Diluted weighted-average shares outstanding 113,634 114,940 111,823 114,643 Net income (loss) per common share attributable to SBA Communications Corporation: Basic $ 0.20 $ 0.28 $ ( 0.93 ) $ 0.51 Diluted $ 0.20 $ 0.28 $ ( 0.93 ) $ 0.51

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interests (Tables)	6 Months Ended
	Jun. 30, 2020
Redeemable Noncontrolling Interests [Abstract]
Components of Redeemable Noncontrolling Interest	For the three months ended For the six months ended June 30, 2020 June 30, 2020 Beginning balance $ 14,478 $ 16,052 Foreign currency translation adjustments 180 ( 1,004 ) Adjustment to fair value ( 614 ) ( 130 ) Net (loss) income attributable to noncontrolling interests 305 ( 569 ) Ending balance $ 14,349 $ 14,349

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2020
Derivatives and Hedging Activities [Abstract]
Schedule of Effects of Interest Rate Swaps on the Consolidated Balance Sheets	Fair Value as of Balance Sheet June 30, December 31, Location 2020 2019 Derivatives Designated as Hedging Instruments (in thousands) Interest rate swap agreement in a fair value liability position Other long-term liabilities $ 162,260 $ 42,698 Derivatives Not Designated as Hedging Instruments Interest rate swap agreements in a fair value asset position Other assets $ 116,451 $ 47,583 Interest rate swap agreements in a fair value liability position Other long-term liabilities $ 113,259 $ 47,583
Schedule of Effect of Derivative on the Consolidated Statements of Operations	For the three months For the six months ended June 30, ended June 30, 2020 2019 2020 2019 Cash Flow Hedge - Interest Rate Swap Agreement (in thousands) Change in fair value recorded in Accumulated other comprehensive loss, net $ ( 17,326 ) $ — $ ( 125,208 ) $ — Amount recognized in Non-cash interest expense $ ( 2,822 ) $ — $ ( 5,646 ) $ — Derivatives Not Designated as Hedges - Interest Rate Swap Agreements Amount reclassified from Accumulated other comprehensive loss, net into Non-cash interest expense $ 4,642 $ — $ 9,285 $ — Change in fair value recorded in Other income (expense), net $ ( 774 ) $ — $ 3,192 $ —

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Basis of Presentation [Line Items]
Gain (loss) on remeasurement of U.S. dollar denominated intercompany loan	$ (20.4)	$ 6	$ (173.2)	$ 4.6
Intercompany foreign currency outstanding balance	$ 915.1		$ 915.1		$ 899.7

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Short-term investments	$ 225,853	$ 225,853	$ 534
Purchase of short-term investments	525,000	1,100,000
Proceeds from sale of short-term investments	$ 300,000	$ 900,000
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%

Fair Value Measurements (Summar

Fair Value Measurements (Summary of Asset Impairment and Decommission Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Fair Value Measurements [Abstract]
Asset impairment	$ 5,424	$ 4,282	$ 16,432	$ 7,585
Write-off of carrying value of decommissioned towers	739	5,007	3,439	7,164
Other (including third party decommission costs)	79	331	726	642
Total asset impairment and decommission costs	$ 6,242	$ 9,620	$ 20,597	$ 15,391

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash (Narrative) (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019
Restricted Cash And Cash Equivalents Items [Line Items]
Surety, payment and performance bonds	$ 41,300,000	$ 41,700,000
Collateral payment for performance bonds	0	0
Workers Compensation Policy [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Collateral	$ 2,300,000	$ 2,300,000

Cash, Cash Equivalents, and R_4

Cash, Cash Equivalents, and Restricted Cash (Schedule of Cash, Cash Equivalents and Restricted Cash) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Restricted Cash And Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 207,487	$ 108,309
Restricted cash - current asset	41,684	30,243
Total cash, cash equivalents, and restricted cash	251,638	141,120	$ 126,812	$ 178,300
Securitization Escrow Accounts [Member] | Restricted Cash - Current Asset [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - current asset	41,524	30,046
Payment and Performance Bonds [Member] | Restricted Cash - Current Asset [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - current asset	160	197
Surety Bonds and Workers Compensation [Member] | Other Assets - Noncurrent [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - noncurrent asset	$ 2,467	$ 2,568

Costs and Estimated Earnings _3

Costs and Estimated Earnings on Uncompleted Contracts (Narrative) (Details) - Customer Concentration Risk [Member] - Contract with Customer [Member] - customer	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Concentration Risk [Line Items]
Number of significant customers	8	8
Concentration risk percentage	95.80%	94.40%

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	Jun. 30, 2020	Dec. 31, 2019
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Costs incurred on uncompleted contracts	$ 46,688	$ 52,339
Estimated earnings	18,244	19,954
Billings to date	(46,647)	(47,401)
Costs and estimated earnings on uncompleted contracts	$ 18,285	$ 24,892

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	Jun. 30, 2020	Dec. 31, 2019
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts	$ 18,877	$ 26,313
Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities)	(592)	(1,421)
Costs and estimated earnings on uncompleted contracts	$ 18,285	$ 24,892

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	Jun. 30, 2020	Dec. 31, 2019
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Prepaid ground rent	$ 2,354	$ 1,632
Prepaid real estate taxes	1,927	3,003
Prepaid taxes	6,748	4,924
Other	27,861	27,188
Total prepaid expenses and other current assets	$ 38,890	$ 36,747

Prepaid Expenses and Other Cu_4

Prepaid Expenses and Other Current Assets and Other Assets (Schedule of Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Straight-line rent receivable	$ 318,791	$ 330,660
Interest rate swap asset	116,451	47,583
Loan receivables	11,794	8,295
Deferred lease costs, net	4,781	4,865
Deferred tax asset - long term	69,978	4,342
Other	35,955	36,333
Total other assets	$ 557,750	$ 432,078

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Millions	1 Months Ended	6 Months Ended
	Aug. 06, 2020USD ($)item	Jun. 30, 2020USD ($)item	Dec. 31, 2019USD ($)
Business Acquisition [Line Items]
Performance targets, maximum potential obligation		$ 27.1	$ 29.7
Other Acquisitions [Member]
Business Acquisition [Line Items]
Number of towers acquired | item		85
Property and equipment		$ 12.9
Intangible assets		82.3
Other net assets and liabilities assumed		$ 4.2
Subsequent Event [Member]
Business Acquisition [Line Items]
Number of towers acquired | item	25
Number of data centers acquired | item	1
Cash paid for acquisition	$ 61.6

Acquisitions (Schedule of Acqui

Acquisitions (Schedule of Acquisition Capital Expenditures) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Acquisitions [Abstract]
Acquisitions of towers and related intangible assets	$ 17,150	$ 83,264	$ 99,424	$ 125,412
Land buyouts and other assets	12,354	12,631	19,611	25,770
Total cash acquisition capital expenditures	29,504	95,895	119,035	151,182
Acquisition costs paid through the issuance of common stock				$ 1,700
Common stock issued for acquisition costs				10,000
Ground lease extensions	$ 1,600	$ 3,500	$ 3,600	$ 6,700

Property and Equipment, Net (Na

Property and Equipment, Net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Property and Equipment, Net [Abstract]
Depreciation expense	$ 71,300	$ 69,500	$ 143,200	$ 138,600
Unpaid capital expenditures	$ 8,884		$ 8,884		$ 14,669

Property and Equipment, Net (Pr

Property and Equipment, Net (Property and Equipment, Net (Including Assets Held Under Capital Leases)) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 5,957,171	$ 5,985,780
Less: accumulated depreciation	(3,298,282)	(3,191,178)
Property and equipment, net	2,658,889	2,794,602
Towers and Related Components [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	5,122,198	5,164,104
Construction-In-Process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	33,046	33,644
Furniture, Equipment and Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	50,247	51,654
Land, Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 751,680	$ 736,378

Intangible Assets, Net (Narrati

Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Intangible Assets, Net [Abstract]
Amortization expense	$ 107.4	$ 102	$ 218	$ 203.8

Intangible Assets, Net (Gross a

Intangible Assets, Net (Gross and Net Carrying Amounts for each Major Class of Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 6,432,059	$ 6,761,075
Accumulated amortization	(3,257,492)	(3,134,302)
Net book value	3,174,567	3,626,773
Current Contract Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	4,703,085	4,996,591
Accumulated amortization	(2,298,491)	(2,218,404)
Net book value	2,404,594	2,778,187
Network Location Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,728,974	1,764,484
Accumulated amortization	(959,001)	(915,898)
Net book value	$ 769,973	$ 848,586

Accrued Expenses (Schedule of A

Accrued Expenses (Schedule of Accrued Expenses) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Accrued Expenses [Abstract]
Salaries and benefits	$ 15,257	$ 19,838
Real estate and property taxes	11,134	9,598
Unpaid capital expenditures	8,884	14,669
Other	30,306	23,513
Total accrued expenses	$ 65,581	$ 67,618

Debt (Revolving Credit Facility

Debt (Revolving Credit Facility under the Senior Credit Agreement) (Narrative) (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019
Line of Credit Facility [Line Items]
Repayments of revolving credit facility		$ 1,005,000,000	$ 335,000,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Borrowings on the revolving credit facility	$ 15,000,000	515,000,000
Repayments of revolving credit facility	500,000,000	1,000,000,000
Line of credit facility, maximum borrowing capacity	$ 1,250,000,000	$ 1,250,000,000
Line of credit facility, commitment fee		0.25%

Debt (Term Loan under the Senio

Debt (Term Loan under the Senior Credit Agreement) (Narrative) (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 10,662,000,000	$ 10,662,000,000	$ 10,414,000,000
2018 Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	2,352,000,000	2,352,000,000	$ 2,364,000,000
Repayment of term loans	$ 6,000,000	$ 12,000,000

Debt (Secured Tower Revenue Sec

Debt (Secured Tower Revenue Securities) (Narrative) (Details) - USD ($)	Jul. 14, 2020	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Debt instrument, principal amount		$ 10,662,000,000	$ 10,414,000,000
2015-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount		$ 500,000,000	500,000,000
Debt instrument, interest rate, stated percentage		3.156%
Debt instrument, maturity date		Oct. 8, 2020
2016-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount		$ 700,000,000	$ 700,000,000
Debt instrument, interest rate, stated percentage		2.877%
Debt instrument, maturity date		Jul. 9, 2021
Subsequent Event [Member] | 2020-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 750,000,000
Debt instrument, interest rate, stated percentage	1.884%
Repayment date of debt instrument	Jan. 9, 2026
Debt instrument, maturity date	Jul. 11, 2050
Subsequent Event [Member] | 2020-2C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 600,000,000
Debt instrument, interest rate, stated percentage	2.328%
Repayment date of debt instrument	Jan. 11, 2028
Debt instrument, maturity date	Jul. 9, 2052
Subsequent Event [Member] | 2020 Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 1,350,000,000
Financing fees	$ 13,600,000
Debt instrument, weighted average interest rate	2.081%
Weighted average life of debt instrument through the anticipated repayment date	6 years 4 months 24 days
Subsequent Event [Member] | 2015-1C Tower Securities [Member]
Debt Instrument [Line Items]
Repayments of long-term debt	$ 500,000,000
Subsequent Event [Member] | 2016-1C Tower Securities [Member]
Debt Instrument [Line Items]
Repayments of long-term debt	700,000,000
Subsequent Event [Member] | 2020-2R Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 71,100,000
Debt instrument, interest rate, stated percentage	4.336%
Repayment date of debt instrument	Jan. 11, 2028
Debt instrument, maturity date	Jul. 9, 2052

Debt (Senior Notes) (Narrative)

Debt (Senior Notes) (Narrative) (Details) - USD ($) $ in Millions	May 26, 2020	Feb. 20, 2020	Jun. 30, 2020	Feb. 04, 2020
2014 Senior Notes [Member]
Debt Instrument [Line Items]
Repayments of unsecured debt		$ 750
Premium on redemption		9.1
Write-off of deferred financing fees		$ 7.7
Debt instrument, maturity date			Jul. 15, 2022
Debt instrument, interest rate, stated percentage			4.875%
2020-1 Senior Notes [Member]
Debt Instrument [Line Items]
Unsecured senior notes				$ 1,000
2020-2 Senior Notes [Member]
Debt Instrument [Line Items]
Unsecured senior notes	$ 500
Percentage of face value price for issuance of senior notes	99.50%
2020 Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date			Feb. 15, 2027
Debt instrument, interest rate, stated percentage			3.875%
Interest payable dates			February 15 and August 15
Financing fees			$ 17.3
Redemption period			Feb. 15, 2023
Aggregate redemption price, percentage			35.00%
Redemption price, percentage			103.875%
2020 Senior Notes [Member] | Redemption, Period One [Member]
Debt Instrument [Line Items]
Redemption period			Feb. 15, 2023
Redemption price, percentage			101.938%
2020 Senior Notes [Member] | Redemption, Period Two [Member]
Debt Instrument [Line Items]
Redemption period			Feb. 15, 2024
Redemption price, percentage			100.969%
2020 Senior Notes [Member] | Redemption, Period Three [Member]
Debt Instrument [Line Items]
Redemption period			Feb. 15, 2025
Redemption price, percentage			100.00%

Debt (Schedule of Principal Val

Debt (Schedule of Principal Values, Fair Values, and Carrying Values of Debt) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Principal Balance	$ 10,662,000,000	$ 10,414,000,000
Fair Value	10,835,541,000	10,543,695,000
Carrying Value	10,579,568,000	10,334,425,000
Less: current maturities of long-term debt	(24,000,000)	(522,090,000)
Total long-term debt, net of current maturities	$ 10,555,568,000	9,812,335,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 11, 2023
Principal Balance		490,000,000
Fair Value		490,000,000
Carrying Value		490,000,000
2018 Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 11, 2025
Principal Balance	$ 2,352,000,000	2,364,000,000
Fair Value	2,269,680,000	2,369,910,000
Carrying Value	$ 2,335,750,000	2,346,183,000
2013-2C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 11, 2023
Principal Balance	$ 575,000,000	575,000,000
Fair Value	606,211,000	585,954,000
Carrying Value	$ 571,459,000	570,866,000
2014-2C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 8, 2024
Principal Balance	$ 620,000,000	620,000,000
Fair Value	678,522,000	644,912,000
Carrying Value	$ 615,663,000	615,205,000
2015-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 8, 2020
Principal Balance	$ 500,000,000	500,000,000
Fair Value	502,605,000	502,095,000
Carrying Value	$ 499,298,000	498,090,000
2016-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Jul. 9, 2021
Principal Balance	$ 700,000,000	700,000,000
Fair Value	712,838,000	704,095,000
Carrying Value	$ 697,930,000	696,936,000
2017-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 11, 2022
Principal Balance	$ 760,000,000	760,000,000
Fair Value	781,113,000	763,405,000
Carrying Value	$ 756,104,000	755,061,000
2018-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Mar. 9, 2023
Principal Balance	$ 640,000,000	640,000,000
Fair Value	679,430,000	658,266,000
Carrying Value	$ 635,187,000	634,344,000
2019-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Jan. 12, 2025
Principal Balance	$ 1,165,000,000	1,165,000,000
Fair Value	1,229,017,000	1,158,057,000
Carrying Value	$ 1,154,002,000	1,153,086,000
2014 Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Jul. 15, 2022
Principal Balance		750,000,000
Fair Value		760,313,000
Carrying Value		743,580,000
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	1,126,125,000	1,142,625,000
Carrying Value	$ 1,087,566,000	1,086,241,000
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	753,750,000	764,063,000
Carrying Value	$ 745,728,000	$ 744,833,000
2020 Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Feb. 15, 2027
Principal Balance	$ 1,500,000,000
Fair Value	1,496,250,000
Carrying Value	$ 1,480,881,000

Debt (Schedule of Cash and Non-

Debt (Schedule of Cash and Non-Cash Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Aug. 06, 2020	Sep. 30, 2019
Debt Instrument [Line Items]
Cash Interest	$ 95,687	$ 97,447	$ 191,538	$ 196,114
Non-cash Interest	$ 2,337	651	$ 4,743	1,292
2018 Term Loan [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	3.464%		3.464%
Cash Interest	$ 20,950	26,944	$ 43,152	53,866
Non-cash Interest	$ 2,030	190	$ 4,052	376
Interest Rates as of June 30, 2020 (blended rate)			3.464%
Accruing interest rate	1.93%		1.93%
2014 Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	3.869%		3.869%
Cash Interest	$ 6,046	12,785	$ 12,092	25,569
2015-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	3.156%		3.156%
Cash Interest	$ 3,985	3,985	$ 7,969	7,969
2016-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	2.877%		2.877%
Cash Interest	$ 5,090	5,090	$ 10,181	10,181
2017-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	3.168%		3.168%
Cash Interest	$ 6,088	6,088	$ 12,173	12,173
2018-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	3.448%		3.448%
Cash Interest	$ 5,570	5,570	$ 11,141	11,141
2018-1C Tower Securities [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	1.597%		1.597%
Cash Interest	$ 1,661	1,564	$ 4,375	4,401
2019-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	2.836%		2.836%
Cash Interest	$ 8,357		$ 16,714
2014 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	4.875%		4.875%
Cash Interest		9,141	$ 3,352	18,281
Non-cash Interest		199	$ 112	395
2016 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	4.875%		4.875%
Cash Interest	$ 13,406	13,406	$ 26,813	26,813
Non-cash Interest	$ 275	262	$ 547	521
2017 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	4.00%		4.00%
Cash Interest	$ 7,500	7,500	$ 15,000	15,000
2020 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	3.875%		3.875%
Cash Interest	$ 11,571		$ 17,707
Non-cash Interest	32		32
Other [Member]
Debt Instrument [Line Items]
Cash Interest	$ 67	(22)	$ 77	(72)
2013 Secured Tower Revenue Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of June 30, 2020	3.722%		3.722%
Cash Interest	$ 5,396	$ 5,396	$ 10,792	$ 10,792
2014-1C Tower Securities [Member]
Debt Instrument [Line Items]
Accruing interest rate						2.898%
2014-2C Tower Securities [Member]
Debt Instrument [Line Items]
Accruing interest rate						3.869%
Interest Rate Swap [Member]
Debt Instrument [Line Items]
Notional amount					$ 1,950,000
Interest Rate Swap [Member] | 2018 Term Loan [Member]
Debt Instrument [Line Items]
Notional amount	$ 1,950,000		$ 1,950,000
Derivative fixed interest rate	3.78%		3.78%
Interest Rate Swap [Member] | London Interbank Offered Rate (LIBOR) [Member] | 2018 Term Loan [Member]
Debt Instrument [Line Items]
Derivative basis spread on variable interest rate	1.75%		1.75%

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) $ in Millions	Aug. 06, 2020USD ($)
Class A Common Stock [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Stock repurchase program, remaining authorization	$ 424.3

Shareholders' Equity (Summary o

Shareholders' Equity (Summary of Share Repurchases) (Details) - USD ($) $ / shares in Units, $ in Millions	Jan. 02, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Shareholders' Equity [Abstract]
Total number of shares purchased (in millions)	13,870	500,000	800,000	500,000
Average price paid per share		$ 204.06	$ 242.86	$ 204.06
Total price paid (in millions)	$ 3.3	$ 94.6	$ 200	$ 94.6

Shareholders' Equity (Schedule

Shareholders' Equity (Schedule of Dividends Paid and Dividends Declared) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	6 Months Ended
	Aug. 06, 2020	Jun. 30, 2020
February 20, 2020 [Member]
Date Declared		Feb. 20, 2020
Payable to Shareholders of Record At the Close of Business on		Mar. 10, 2020
Cash Paid Per Share		$ 0.465
Aggregate Amount Paid		$ 52.2
Date Paid/Date to be Paid		Mar. 26, 2020
May 5, 2020 [Member]
Date Declared		May 5, 2020
Payable to Shareholders of Record At the Close of Business on		May 28, 2020
Cash Paid Per Share		$ 0.465
Aggregate Amount Paid		$ 52
Date Paid/Date to be Paid		Jun. 18, 2020
Subsequent Event [Member] | August 3, 2020 [Member]
Date Declared	Aug. 3, 2020
Payable to Shareholders of Record At the Close of Business on	Aug. 25, 2020
Cash to be Paid Per Share	$ 0.465
Date Paid/Date to be Paid	Sep. 22, 2020

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	May 14, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average fair value of options granted	$ 41.09
Total intrinsic value for options exercised	$ 211.2
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years	4 years
Performance Stock Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Performance period	3 years
2020 Plan [Member] | Class A Common Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum issuance of shares			3,000,000
Shares remaining available for future issuance under the plan	3,000,000
Minimum [Member] | Performance Stock Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric, target amount, percentage	0.00%
Maximum [Member] | Performance Stock Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric, target amount, percentage	200.00%

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of Assumptions used to Estimate Fair Value of Stock Options) (Details)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Stock-Based Compensation [Abstract]
Risk free interest rate	1.66%
Risk free interest rate, Minimum	1.66%	1.84%
Risk free interest rate, Maximum		2.47%
Dividend yield	1.30%	1.30%
Expected volatility	20.00%	20.00%
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	6 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares
Stock-Based Compensation [Abstract]
Number of Shares, Outstanding at December 31, 2019 | shares	4,507
Number of Shares, Granted | shares	10
Number of Shares, Exercised | shares	(1,164)
Number of Shares, Forfeited/canceled | shares	(19)
Number of Shares,Outstanding at June 30, 2020 | shares	3,334
Number of Shares, Exercisable at June 30, 2020 | shares	1,821
Number of Shares, Unvested at June 30, 2020 | shares	1,513
Weighted-Average Exercise Price Per Share, Outstanding at December 31, 2019 | $ / shares	$ 133.68
Weighted-Average Exercise Price Per Share, Granted | $ / shares	240.99
Weighted-Average Exercise Price Per Share, Exercised | $ / shares	109.72
Weighted-Average Exercise Price Per Share, Forfeited/canceled | $ / shares	171.25
Weighted-Average Exercise Price Per Share, Outstanding at June 30, 2020 | $ / shares	142.15
Weighted-Average Exercise Price Per Share, Exercisable at June 30, 2020 | $ / shares	124.40
Weighted-Average Exercise Price Per Share, Unvested at June 30, 2020 | $ / shares	$ 163.53
Weighted-Average Remaining Contractual Life (in years), Outstanding at June 30, 2020	4 years 2 months 12 days
Weighted-Average Remaining Contractual Life (in years), Exercisable at June 30, 2020	3 years 6 months
Weighted-Average Remaining Contractual Life (in years), Unvested at June 30, 2020	5 years 1 month 6 days
Aggregate Intrinsic Value, Outstanding at June 30, 2020 | $	$ 519,323
Aggregate Intrinsic Value, Exercisable at June 30, 2020 | $	316,048
Aggregate Intrinsic Value, Unvested at June 30, 2020 | $	$ 203,275

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary of Restricted Stock Unit and Performance Based Restricted Stock Unit Activity) (Details) shares in Thousands	6 Months Ended
	Jun. 30, 2020$ / sharesshares
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Outstanding at December 31, 2019 | shares	313
Number of Shares, Granted | shares	98
Number of Shares, Vested | shares	(129)
Number of Shares, Forfeited/canceled | shares	(5)
Number of Shares, Outstanding at June 30, 2020 | shares	277
Weighted-Average Grant Date Fair Value per Share, Outstanding at December 31, 2019 | $ / shares	$ 152.98
Weighted-Average Grant Date Fair Value per Share, Granted | $ / shares	290.67
Weighted-Average Grant Date Fair Value per Share, Vested | $ / shares	141.90
Weighted-Average Grant Date Fair Value per Share, Forfeited/canceled | $ / shares	190.95
Weighted-Average Grant Date Fair Value per Share, Outstanding at June 30, 2020 | $ / shares	$ 206.26
Performance Stock Units (PSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Outstanding at December 31, 2019 | shares
Number of Shares, Granted | shares	149
Number of Shares, Vested | shares
Number of Shares, Forfeited/canceled | shares
Number of Shares, Outstanding at June 30, 2020 | shares	149
Weighted-Average Grant Date Fair Value per Share, Outstanding at December 31, 2019 | $ / shares
Weighted-Average Grant Date Fair Value per Share, Granted | $ / shares	375.81
Weighted-Average Grant Date Fair Value per Share, Vested | $ / shares
Weighted-Average Grant Date Fair Value per Share, Forfeited/canceled | $ / shares
Weighted-Average Grant Date Fair Value per Share, Outstanding at June 30, 2020 | $ / shares	$ 375.81
Performance period	3 years

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) $ in Millions	Dec. 31, 2019USD ($)
Income Taxes [Abstract]
Net foreign operating loss carry-forward	$ 652.9

Segment Data (Narrative) (Detai

Segment Data (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Segment Reporting Information [Line Items]
Number of business segments | segment			2
Site leasing	$ 482,403	$ 459,003	$ 974,758	$ 911,186
Total assets	9,390,539		$ 9,390,539		$ 9,759,941
Site Leasing Revenue [Member]
Segment Reporting Information [Line Items]
Number of reportable segments | segment			2
Brazil [Member]
Segment Reporting Information [Line Items]
Site leasing			$ 115,300	$ 111,900
Total assets	$ 1,000,000		$ 1,000,000		$ 1,400,000

Segment Data (Schedule of Segme

Segment Data (Schedule of Segment Reporting Information) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
Revenues		$ 507,226	$ 500,147	$ 1,024,292	$ 993,440
Cost of revenues		111,502	124,448	227,017	248,264
Operating profit		395,724	375,699	797,275	745,176
Selling, general, and administrative expenses	[1]	49,088	55,524	98,704	106,483
Acquisition and new business initiatives related adjustments and expenses		4,634	2,539	8,433	4,976
Asset impairment and decommission costs		6,242	9,620	20,597	15,391
Depreciation, amortization and accretion		178,706	171,564	361,285	342,602
Operating income		157,054	136,452	308,256	275,724
Other expense (principally interest expense and other income (expense))		(134,101)	(88,871)	(479,774)	(191,947)
Income (loss) before income taxes		22,953	47,581	(171,518)	83,777
Cash capital expenditures		57,192	133,118	186,907	225,645
Assets		9,390,539		9,390,539		$ 9,759,941
Domestic Site Leasing [Member]
Segment Reporting Information [Line Items]
Revenues		388,018	369,180	774,361	732,017
Cost of revenues		64,093	65,576	127,997	130,690
Operating profit		323,925	303,604	646,364	601,327
Selling, general, and administrative expenses		25,233	27,193	52,555	56,086
Acquisition and new business initiatives related adjustments and expenses		3,004	1,272	5,601	1,980
Asset impairment and decommission costs		5,342	8,815	16,168	12,449
Depreciation, amortization and accretion		134,569	131,413	268,375	261,657
Operating income		155,777	134,911	303,665	269,155
Cash capital expenditures		38,507	113,200	139,813	174,710
Assets		5,996,130		5,996,130		6,157,511
International Site Leasing [Member]
Segment Reporting Information [Line Items]
Revenues		94,385	89,823	200,397	179,169
Cost of revenues		27,505	27,884	59,400	55,485
Operating profit		66,880	61,939	140,997	123,684
Selling, general, and administrative expenses		9,035	8,310	16,966	13,998
Acquisition and new business initiatives related adjustments and expenses		1,630	1,267	2,832	2,996
Asset impairment and decommission costs		900	805	4,429	2,942
Depreciation, amortization and accretion		42,011	38,194	88,623	76,989
Operating income		13,304	13,363	28,147	26,759
Cash capital expenditures		17,201	18,411	43,634	47,928
Assets		2,893,042		2,893,042		3,381,448
Site Development [Member]
Segment Reporting Information [Line Items]
Revenues		24,823	41,144	49,534	82,254
Cost of revenues		19,904	30,988	39,620	62,089
Operating profit		4,919	10,156	9,914	20,165
Selling, general, and administrative expenses		4,494	6,885	8,950	12,591
Depreciation, amortization and accretion		597	678	1,213	1,240
Operating income		(172)	2,593	(249)	6,334
Cash capital expenditures		282	883	1,064	1,808
Assets		50,702		50,702		81,772
Not Identified by Segment [Member]
Segment Reporting Information [Line Items]
Selling, general, and administrative expenses		10,326	13,136	20,233	23,808
Depreciation, amortization and accretion		1,529	1,279	3,074	2,716
Operating income		(11,855)	(14,415)	(23,307)	(26,524)
Other expense (principally interest expense and other income (expense))		(134,101)	(88,871)	(479,774)	(191,947)
Cash capital expenditures		1,202	$ 624	2,396	$ 1,199
Assets		$ 450,665		$ 450,665		$ 139,210
[1]	Includes non-cash compensation of $ 18,131 and $ 24,131 for the three months ended June 30, 2020 and 2019, respectively, and $ 33,684 and $ 46,736 for the six months ended June 30, 2020 and 2019, respectively.

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from earnings per share calculation		700,000		700,000
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from earnings per share calculation	3,467		3,300,000
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from earnings per share calculation			300,000
Performance Stock Units (PSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from earnings per share calculation			100,000

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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share [Abstract]
Net income (loss) attributable to SBA Communications Corporation	$ 22,813	$ 31,973	$ (104,247)	$ 57,962
Basic weighted-average shares outstanding	111,738	113,205	111,823	112,958
Dilutive impact of stock options and restricted shares	1,896	1,735		1,685
Diluted weighted-average shares outstanding	113,634	114,940	111,823	114,643
Net income (loss) per common share attributable to SBA Communications Corporation:
Basic	$ 0.20	$ 0.28	$ (0.93)	$ 0.51
Diluted	$ 0.20	$ 0.28	$ (0.93)	$ 0.51

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interests (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended
	Aug. 31, 2019	Jun. 30, 2020
Noncontrolling Interest [Line Items]
Fair market value		$ 14.3
Options exercisable date	Aug. 30, 2020
Atlas Tower, South Africa [Member]
Noncontrolling Interest [Line Items]
Noncontrolling interest ownership percentage	6.00%	6.00%

Redeemable Noncontrolling Int_4

Redeemable Noncontrolling Interests (Components of Redeemable Noncontrolling Interest) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Redeemable Noncontrolling Interests [Abstract]
Beginning balance	$ 14,478	$ 16,052
Foreign currency translation adjustments	180	(1,004)
Adjustment to fair value	(614)	(130)
Net (loss) income attributable to noncontrolling interests	305	(569)
Ending balance	$ 14,349	$ 14,349

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) $ in Millions	Aug. 06, 2020USD ($)
Subsequent Event [Member]
Derivative [Line Items]
Payment to terminate	$ 176.2
Interest Rate Swap [Member]
Derivative [Line Items]
Notional amount	$ 1,950
Interest Rate Swap [Member] | Subsequent Event [Member]
Derivative [Line Items]
Derivative fixed interest rate	0.1239%

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Schedule of Effects of Interest Rate Swaps on the Consolidated Balance Sheets) (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Qualifying Hedges [Member] | Other Long-Term Liabilities [Member]
Derivatives, Fair Value [Line Items]
Interest rate swap agreements in a fair value liability position	$ 162,260	$ 42,698
Non-Qualifying Hedging [Member] | Other Assets [Member]
Derivatives, Fair Value [Line Items]
Interest rate swap agreements in a fair value asset position	116,451	47,583
Non-Qualifying Hedging [Member] | Other Long-Term Liabilities [Member]
Derivatives, Fair Value [Line Items]
Interest rate swap agreements in a fair value liability position	$ 113,259	$ 47,583

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities (Schedule of Effect of Derivatives the Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Interest Rate Swap [Member] | Non-Qualifying Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value recorded in Other income (expense), net	$ (774)		$ 3,192
Interest Rate Swap [Member] | Non-Qualifying Hedging [Member] | Non-cash Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount reclassified from Accumulated other comprehensive loss, net into Non-cash interest expense	4,642		9,285
Cash Flow Hedges [Member] | Qualifying Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value recorded in Accumulated other comprehensive loss, net	(17,326)		(125,208)
Cash Flow Hedges [Member] | Qualifying Hedges [Member] | Non-cash Interest Expense [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount recognized in Non-cash interest expense	$ (2,822)		$ (5,646)

Concentration of Credit Risk (N

Concentration of Credit Risk (Narrative) (Details) - T-Mobile [Member] - Revenue [Member]	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Domestic Site Leasing [Member]
Concentration Risk [Line Items]
Concentration risk percentage of revenue	40.40%	40.80%
Site Development Revenue [Member]
Concentration Risk [Line Items]
Concentration risk percentage of revenue	53.00%	53.80%