SBA Communications (SBAC) 10-Q 5 Aug 21 2021 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 28, 2021
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, 2021
Document Fiscal Year Focus	2021
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
Title of 12(b) Security	Class A Common Stock, $0.01 par value per share
Trading Symbol	SBAC
Security Exchange Name	NASDAQ
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		109,553,452
Amendment Flag	false
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001034054

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 273,803	$ 308,560
Restricted cash	62,370	31,671
Accounts receivable, net	85,976	74,088
Costs and estimated earnings in excess of billings on uncompleted contracts	33,237	34,796
Prepaid expenses and other current assets	26,840	23,875
Total current assets	482,226	472,990
Property and equipment, net	2,625,097	2,677,326
Intangible assets, net	3,051,616	3,156,150
Operating lease right-of-use assets, net	2,353,365	2,369,358
Acquired and other right-of-use assets, net	956,011	4,202
Other assets	491,998	477,992
Total assets	9,960,313	9,158,018
Current Liabilities:
Accounts payable	34,602	109,969
Accrued expenses	68,655	63,031
Current maturities of long-term debt	24,000	24,000
Deferred revenue	176,996	113,117
Accrued interest	66,392	54,350
Current lease liabilities	242,516	236,037
Other current liabilities	12,845	14,297
Total current liabilities	626,006	614,801
Long-term liabilities:
Long-term debt, net	11,908,447	11,071,796
Long-term lease liabilities	2,064,831	2,094,363
Other long-term liabilities	185,594	186,246
Total long-term liabilities	14,158,872	13,352,405
Redeemable noncontrolling interests	15,177	15,194
Shareholders' deficit:
Preferred stock - par value $0.01, 30,000 shares authorized, no shares issued or outstanding
Common stock - Class A, par value $0.01, 400,000 shares authorized, 109,534 shares and 109,819 shares issued and outstanding at June 30, 2021 and December 31, 2020, respectively	1,095	1,098
Additional paid-in capital	2,657,540	2,586,130
Accumulated deficit	(6,759,382)	(6,604,028)
Accumulated other comprehensive loss, net	(738,995)	(807,582)
Total shareholders' deficit	(4,839,742)	(4,824,382)
Total liabilities, redeemable noncontrolling interests, and shareholders' deficit	$ 9,960,313	$ 9,158,018

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
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	109,534,000	109,819,000
Common stock - Class A, shares outstanding	109,534,000	109,819,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Site leasing		$ 524,095	$ 482,403	$ 1,029,197	$ 974,758
Site development		51,433	24,823	95,069	49,534
Total revenues		575,528	507,226	1,124,266	1,024,292
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):
Cost of site leasing		95,350	91,598	190,718	187,397
Cost of site development		40,409	19,904	74,815	39,620
Selling, general, and administrative expenses	[1]	53,945	49,088	105,546	98,704
Acquisition and new business initiatives related adjustments and expenses		6,794	4,634	11,795	8,433
Asset impairment and decommission costs		3,797	6,242	8,700	20,597
Depreciation, accretion, and amortization		175,469	178,706	359,350	361,285
Total operating expenses		375,764	350,172	750,924	716,036
Operating income		199,764	157,054	373,342	308,256
Other income (expense):
Interest income		547	699	1,179	1,584
Interest expense		(90,544)	(95,687)	(180,639)	(191,538)
Non-cash interest expense		(11,812)	(2,337)	(23,615)	(4,743)
Amortization of deferred financing fees		(4,865)	(5,188)	(9,755)	(10,328)
Loss from extinguishment of debt, net		(2,020)		(13,672)	(16,864)
Other income (expense), net		108,849	(31,588)	20,410	(257,885)
Total other income (expense), net		155	(134,101)	(206,092)	(479,774)
Income (loss) before income taxes		199,919	22,953	167,250	(171,518)
(Provision) benefit for income taxes		(47,250)	165	(26,328)	66,702
Net income (loss)		152,669	23,118	140,922	(104,816)
Net (income) loss attributable to noncontrolling interests			(305)		569
Net income (loss) attributable to SBA Communications Corporation		$ 152,669	$ 22,813	$ 140,922	$ (104,247)
Net income (loss) per common share attributable to SBA Communications Corporation:
Basic		$ 1.40	$ 0.20	$ 1.29	$ (0.93)
Diluted		$ 1.37	$ 0.20	$ 1.27	$ (0.93)
Weighted average number of common shares
Basic		109,412	111,738	109,441	111,823
Diluted		111,301	113,634	111,210	111,823
[1]	Includes non-cash compensation of $ 21,077 and $ 18,131 for the three months ended June 30, 2021 and 2020, respectively, and $ 40,661 and $ 33,684 for the six months ended June 30, 2021 and 2020, respectively.

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Non-cash compensation expense			$ 42,066	$ 34,857
Selling, General And Administrative [Member]
Non-cash compensation expense	$ 21,077	$ 18,131	$ 40,661	$ 33,684

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ 152,669	$ 23,118	$ 140,922	$ (104,816)
Adjustments related to interest rate swaps	5,565	(12,684)	48,352	(115,923)
Foreign currency translation adjustments	63,869	(8,166)	20,235	(184,193)
Comprehensive income (loss)	222,103	2,268	209,509	(404,932)
Comprehensive (income) loss attributable to noncontrolling interests		(485)		1,573
Comprehensive income (loss) attributable to SBA Communications Corporation	$ 222,103	$ 1,783	$ 209,509	$ (403,359)

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Deficit - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]Class A Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss [Member]	Total
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
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
Adjustments related to 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 and dividend equivalents 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
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
Adjustments related to interest rate swaps				(12,684)	(12,684)
Foreign currency translation adjustments attributable to SBA Communications Corporation				(8,346)	(8,346)
Dividends and dividend equivalents 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
BALANCE at Dec. 31, 2020	$ 1,098	2,586,130	(6,604,028)	(807,582)	$ (4,824,382)
BALANCE, Shares at Dec. 31, 2020	109,819				109,819
Net income (loss) attributable to SBA Communications Corporation			140,922		$ 140,922
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements	$ 4	27,106			27,110
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements, Shares	368
Non-cash stock compensation		42,787			42,787
Adjustments related to interest rate swaps				48,352	48,352
Repurchase and retirement of common stock	$ (7)		(168,915)		(168,922)
Repurchase and retirement of common stock, Shares	(653)
Foreign currency translation adjustments attributable to SBA Communications Corporation				20,235	20,235
Dividends and dividend equivalents on common stock			(127,361)		(127,361)
Adjustment to fair value related to noncontrolling interests		1,517			1,517
BALANCE at Jun. 30, 2021	$ 1,095	2,657,540	(6,759,382)	(738,995)	$ (4,839,742)
BALANCE, Shares at Jun. 30, 2021	109,534				109,534
BALANCE at Mar. 31, 2021	$ 1,093	2,610,472	(6,848,313)	(808,429)	$ (5,045,177)
BALANCE, Shares at Mar. 31, 2021	109,331
Net income (loss) attributable to SBA Communications Corporation			152,669		152,669
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements	$ 2	25,093			25,095
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements, Shares	203
Non-cash stock compensation		21,975			21,975
Adjustments related to interest rate swaps				5,565	5,565
Foreign currency translation adjustments attributable to SBA Communications Corporation				63,869	63,869
Dividends and dividend equivalents on common stock			(63,738)		(63,738)
BALANCE at Jun. 30, 2021	$ 1,095	$ 2,657,540	$ (6,759,382)	$ (738,995)	$ (4,839,742)
BALANCE, Shares at Jun. 30, 2021	109,534				109,534

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 140,922	$ (104,816)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, accretion, and amortization	359,350	361,285
(Gain) loss on remeasurement of U.S. dollar denominated intercompany loans	(25,044)	261,308
Non-cash compensation expense	42,066	34,857
Non-cash asset impairment and decommission costs	8,289	20,160
Loss from extinguishment of debt	12,672	16,864
Deferred income tax expense (benefit)	14,159	(77,707)
Other non-cash items reflected in the Statements of Operations	37,829	10,339
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts, net	6,582	34,127
Prepaid expenses and other assets	(2,595)	1,979
Operating lease right-of-use assets, net	56,995	59,559
Accounts payable and accrued expenses	3,099	4,093
Accrued interest	12,042	(474)
Long-term lease liabilities	(54,772)	(49,828)
Other liabilities	26,688	20,672
Net cash provided by operating activities	638,282	592,418
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions	(1,129,851)	(119,035)
Capital expenditures	(55,375)	(66,979)
Purchase of investments	(755,176)	(1,135,026)
Proceeds from sale of investments	755,063	910,000
Other investing activities	585	(2,930)
Net cash used in investing activities	(1,184,754)	(413,970)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under Revolving Credit Facility	810,000	515,000
Repayments under Revolving Credit Facility	(1,105,000)	(1,005,000)
Proceeds from issuance of Senior Notes, net of fees	1,485,512	1,480,206
Repayment of Senior Notes	(757,500)	(759,143)
Proceeds from issuance of Tower Securities, net of fees	1,152,631
Repayment of Tower Securities	(760,000)
Repurchase and retirement of common stock	(168,922)	(203,330)
Payment of dividends on common stock	(126,893)	(104,171)
Proceeds from employee stock purchase/stock option plans, net of taxes	27,140	37,316
Other financing activities	(11,574)	(12,999)
Net cash provided by (used in) financing activities	545,394	(52,121)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(2,920)	(15,809)
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(3,998)	110,518
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:
Beginning of period	342,808	141,120
End of period	338,810	251,638
Cash paid during the period for:
Interest	169,509	191,929
Income taxes	15,766	8,940
SUPPLEMENTAL CASH FLOW INFORMATION OF NON-CASH ACTIVITIES:
Right-of-use assets obtained in exchange for new operating lease liabilities	22,397	12,269
Operating lease modifications and reassessments	9,049	20,501
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 1,765	$ 893

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2021
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, 2020 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 translation gains and losses are reported as foreign currency translation adjustments through Accumulated other comprehensive loss, net 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. Remeasurement 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 Statements of Operations as settlement is anticipated or planned in the foreseeable future. The Company recorded a $ 73.6 million gain and a $ 20.4 million loss, net of taxes, on the remeasurement of intercompany loans for the three months ended June 30, 2021 and 2020, respectively, and a $ 16.6 million gain and a $ 173.2 million loss, net of taxes, on the remeasurement of intercompany loans for the six months ended June 30, 2021 and 2020, respectively, due to changes in foreign exchange rates. During the six months ended June 30, 2021, the Company repaid $ 116.3 million of the intercompany loans. As of June 30, 2021 and December 31, 2020, the aggregate amount outstanding under the intercompany loan agreements subject to remeasurement with the Company’s foreign subsidiaries was $ 794.1 million and $ 909.8 million, respectively. Reference Rate Reform ASU 2020-04 and ASU 2021-01, Reference Rate Reform, provide 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. An entity may elect to apply the amendments prospectively through December 31, 2022. The ICE Benchmark Administration Limited (“IBA”) intends to cease the publication of USD LIBOR as follows: the 1 week and 2 month tenors on December 31, 2021 and all other tenors on June 30, 2023. On July 7, 2021, the Company amended its Credit Facility to provide mechanics relating to a transition away from LIBOR as a benchmark interest rate and the replacement of LIBOR by an alternative benchmark rate. Refer to Note 10 for further discussion of the Credit Facility. As of June 30, 2021, other than modifications to the Credit Facility, 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, 2021
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. Refer to Note 16 for discussion of the Company’s redeemable non-controlling interests. 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, 2021 2020 2021 2020 Asset impairment (1) $ 2,211 $ 5,424 $ 5,366 $ 16,432 Write-off of carrying value of decommissioned towers 1,264 739 2,592 3,439 Other (including third party decommission costs) 322 79 742 726 Total asset impairment and decommission costs $ 3,797 $ 6,242 $ 8,700 $ 20,597 (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. The Company’s long-term investments were $ 51.9 million and $ 57.6 million as of June 30, 2021 and December 31, 2020, respectively, and are recorded in Other assets on the Consolidated Balance Sheets. Some of these investments provide for the Company to increase their investment in the future through call options exercisable by the Company and put options exercisable by the investee. These put and call options are recorded at fair market value. The estimation of the fair value of the investment involves the use of Level 3 inputs. The Company evaluates these investments for indicators of impairment. The Company considers impairment indicators such as negative changes in industry and market conditions, financial performance, business prospects, and other relevant events and factors. If indicators exist and the fair value of the investment is below the carrying amount, the investment could be impaired. 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 is based primarily upon Level 1 reported market values. As of June 30, 2021 and December 31, 2020, the Company had $ 0.8 million and $ 0.7 million of short-term investments, respectively. For the six months ended June 30, 2021, the Company purchased and sold $ 755.1 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 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 150.0 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, 2021
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, 2021 December 31, 2020 Included on Balance Sheet (in thousands) Cash and cash equivalents $ 273,803 $ 308,560 Securitization escrow accounts 62,201 31,507 Restricted cash - current asset Payment and performance bonds 169 164 Restricted cash - current asset Surety bonds and workers compensation 2,637 2,577 Other assets - noncurrent Total cash, cash equivalents, and restricted cash $ 338,810 $ 342,808 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, 2021 and December 31, 2020, the Company had $ 41.9 million and $ 41.8 million in surety and 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, 2021 and December 31, 2020, 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, 2021
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, 2021 December 31, 2020 (in thousands) Costs incurred on uncompleted contracts $ 73,925 $ 54,949 Estimated earnings 27,991 21,778 Billings to date ( 71,992 ) ( 43,725 ) $ 29,924 $ 33,002 These amounts are included in the Consolidated Balance Sheets under the following captions: As of As of June 30, 2021 December 31, 2020 (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 33,237 $ 34,796 Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities) ( 3,313 ) ( 1,794 ) $ 29,924 $ 33,002 As of June 30, 2021 and December 31, 2020, the eight largest customers comprised 98.9 % and 99.4 %, respectively, of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings.

Prepaid Expenses and Other Curr

Prepaid Expenses and Other Current Assets and Other Assets	6 Months Ended
	Jun. 30, 2021
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, 2021 December 31, 2020 (in thousands) Prepaid ground rent $ 2,137 $ 1,412 Prepaid real estate taxes 2,069 3,153 Prepaid taxes 9,866 8,121 Other current assets 12,768 11,189 Total prepaid expenses and other current assets $ 26,840 $ 23,875 The Company’s other assets are comprised of the following: As of As of June 30, 2021 December 31, 2020 (in thousands) Straight-line rent receivable $ 333,434 $ 321,816 Interest rate swap asset (1) 38,032 12,123 Loan receivables 5,382 5,931 Deferred lease costs, net 4,960 4,788 Deferred tax asset - long term 38,890 53,722 Long-term investments 51,941 57,575 Other 19,359 22,037 Total other assets $ 491,998 $ 477,992 (1) Refer to Note 17 for more information on the Company’s interest rate swaps.

Acquisitions

Acquisitions	6 Months Ended
	Jun. 30, 2021
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, 2021 2020 2021 2020 (in thousands) Acquisitions of towers and related intangible assets (1) $ 67,255 $ 17,150 $ 168,885 $ 99,424 Acquisition of right-of-use assets (2) 1,783 — 947,698 — Land buyouts and other assets (3) 8,137 12,354 13,268 19,611 Total cash acquisition capital expenditures $ 77,175 $ 29,504 $ 1,129,851 $ 119,035 (1) The six months ended June 30, 2021 includes $ 77.1 million of acquisitions completed during the fourth quarter of 2020 which were not funded until the first quarter of 2021. (2) During the six months ended June 30, 2021, the Company acquired the exclusive right to lease and operate 699 utility transmission structures, which included existing wireless tenant licenses from PG&E for $ 955.8 million. The difference between the agreed upon purchase price of $ 955.8 million and the cash acquisition amount is due to working capital adjustments. The Company accounted for the payment with respect to these sites as a right-of-use asset, which is recorded in Acquired and other right of use assets, net on its Consolidated Balance Sheets. The payments associated with the right of use of these structures has been fully funded and will be recognized over 70 years. (3) In addition, the Company paid $ 3.6 million and $ 1.6 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended June 30, 2021 and 2020, respectively, and paid $ 6.4 million and $ 3.6 million for ground lease extensions and term easements on land underlying the Company’s towers during the six months ended June 30, 2021 and 2020, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets. During the six months ended June 30, 2021, in addition to the acquisition of right-of-use assets, the Company allocated the purchase price of 89 acquired towers and related assets and liabilities consisting of $ 7.8 million of property and equipment, $ 76.4 million of intangible assets, and $ 84.7 million of other net assets and liabilities assumed. In the six months ended June 30, 2021, all acquisitions were accounted for as asset acquisitions. Subsequent to June 30, 2021, the Company purchased or agreed to purchase approximately 1,800 communication sites for an aggregate consideration of approximately $ 270.0 million in cash, including approximately 1,400 sites for approximately $ 175.0 million in cash relating to the previously announced deal to acquire towers from Airtel Tanzania. The maximum potential obligation related to contingent consideration for acquisitions were $ 17.1 million and $ 35.0 million as of June 30, 2021 and December 31, 2020, respectively. No such amounts have been recorded on the Company’s Consolidated Balance Sheet.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended
	Jun. 30, 2021
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, 2021 December 31, 2020 (in thousands) Towers and related components $ 5,292,525 $ 5,213,019 Construction-in-process (1) 35,143 38,065 Furniture, equipment, and vehicles 55,750 54,610 Land, buildings, and improvements 831,958 818,272 Total property and equipment 6,215,376 6,123,966 Less: accumulated depreciation ( 3,590,279 ) ( 3,446,640 ) Property and equipment, net $ 2,625,097 $ 2,677,326 (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 $ 68.2 million and $ 71.3 million for the three months ended June 30, 2021 and 2020, respectively, and $ 139.8 million and $ 143.2 million for the six months ended June 30, 2021 and 2020, respectively. At June 30, 2021 and December 31, 2020, unpaid capital expenditures that are included in accounts payable and accrued expenses were $ 7.0 million and $ 6.1 million, respectively.

Intangible Assets, Net

Intangible Assets, Net	6 Months Ended
	Jun. 30, 2021
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, 2021 As of December 31, 2020 Gross carrying Accumulated Net book Gross carrying Accumulated Net book amount amortization value amount amortization value (in thousands) Current contract intangibles $ 4,976,910 $ ( 2,643,245 ) $ 2,333,665 $ 4,876,880 $ ( 2,471,438 ) $ 2,405,442 Network location intangibles 1,796,926 ( 1,078,975 ) 717,951 1,770,944 ( 1,020,236 ) 750,708 Intangible assets, net $ 6,773,836 $ ( 3,722,220 ) $ 3,051,616 $ 6,647,824 $ ( 3,491,674 ) $ 3,156,150 All intangible assets noted above are included in the Company’s site leasing segment. Amortization expense relating to the intangible assets above was $ 103.2 million and $ 107.4 million for the three months ended June 30, 2021 and 2020, respectively, and $ 212.9 million and $ 218.0 million for the six months ended June 30, 2021 and 2020, respectively.

Accrued Expenses

Accrued Expenses	6 Months Ended
	Jun. 30, 2021
Accrued Expenses [Abstract]
Accrued Expenses	9. ACCRUED EXPENSES The Company’s accrued expenses are comprised of the following: As of As of June 30, 2021 December 31, 2020 (in thousands) Salaries and benefits $ 21,397 $ 20,958 Real estate and property taxes 9,932 9,583 Unpaid capital expenditures 6,987 6,073 Other 30,339 26,417 Total accrued expenses $ 68,655 $ 63,031

Debt

Debt	6 Months Ended
	Jun. 30, 2021
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, 2021 December 31, 2020 Maturity Date Principal Balance Fair Value Carrying Value Principal Balance Fair Value Carrying Value Revolving Credit Facility (1) Apr. 11, 2023 $ 85,000 $ 85,000 $ 85,000 $ 380,000 $ 380,000 $ 380,000 2018 Term Loan Apr. 11, 2025 2,328,000 2,304,720 2,315,022 2,340,000 2,310,750 2,325,391 2013-2C Tower Securities (2) Apr. 11, 2023 575,000 589,065 572,680 575,000 599,662 572,063 2014-2C Tower Securities (2) Oct. 8, 2024 620,000 653,027 616,608 620,000 670,003 616,131 2017-1C Tower Securities (2) Apr. 11, 2022 — — — 760,000 774,410 757,165 2018-1C Tower Securities (2) Mar. 9, 2023 640,000 658,419 636,920 640,000 671,341 636,045 2019-1C Tower Securities (2) Jan. 12, 2025 1,165,000 1,191,061 1,156,267 1,165,000 1,218,613 1,155,106 2020-1C Tower Securities (2) Jan. 9, 2026 750,000 756,480 743,365 750,000 752,910 742,782 2020-2C Tower Securities (2) Jan. 11, 2028 600,000 611,646 594,387 600,000 597,840 594,081 2021-1C Tower Securities (2) Nov. 9, 2026 1,165,000 1,164,918 1,152,901 — — — 2016 Senior Notes Sep. 1, 2024 1,100,000 1,119,151 1,090,317 1,100,000 1,127,500 1,088,924 2017 Senior Notes Oct. 1, 2022 — — — 750,000 757,500 746,642 2020 Senior Notes Feb. 15, 2027 1,500,000 1,545,000 1,482,803 1,500,000 1,567,500 1,481,466 2021 Senior Notes Feb. 1, 2029 1,500,000 1,449,375 1,486,177 — — — Total debt $ 12,028,000 $ 12,127,862 $ 11,932,447 $ 11,180,000 $ 11,428,029 $ 11,095,796 Less: current maturities of long-term debt ( 24,000 ) ( 24,000 ) Total long-term debt, net of current maturities $ 11,908,447 $ 11,071,796 (1) On July 7, 2021, the Company amended its Revolving Credit Facility to extend the maturity date to July 7, 2026 as well as amend certain other terms and conditions under the Senior Credit Agreement. For further discussion of the amendments, refer to “Revolving Credit Facility under the Senior Credit Agreement” below. (2) 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: Interest For the three months ended June 30, For the six months ended June 30, Rates as of 2021 2020 2021 2020 June 30, Cash Non-cash Cash Non-cash Cash Non-cash Cash Non-cash 2021 Interest Interest Interest Interest Interest Interest Interest Interest (in thousands) Revolving Credit Facility 1.600 % $ 1,573 $ — $ 1,661 $ — $ 3,721 $ — $ 4,375 $ — 2018 Term Loan (1) 1.872 % 11,067 11,438 20,950 2,030 22,064 22,872 43,152 4,052 2013-2C Tower Securities 3.722 % 5,396 — 5,396 — 10,792 — 10,792 — 2014-2C Tower Securities 3.869 % 6,046 — 6,046 — 12,092 — 12,092 — 2015-1C Tower Securities 3.156 % — — 3,985 — — — 7,969 — 2016-1C Tower Securities 2.877 % — — 5,090 — — — 10,181 — 2017-1C Tower Securities 3.168 % 3,115 — 6,088 — 9,201 — 12,173 — 2018-1C Tower Securities 3.448 % 5,570 — 5,570 — 11,141 — 11,141 — 2019-1C Tower Securities 2.836 % 8,357 — 8,357 — 16,714 — 16,714 — 2020-1C Tower Securities 1.884 % 3,598 — — — 7,195 — — — 2020-2C Tower Securities 2.328 % 3,540 — — — 7,079 — — — 2021-1C Tower Securities 1.631 % 2,550 — — — 2,550 — — — 2014 Senior Notes 4.875 % — — — 275 — — 3,352 112 2016 Senior Notes 4.875 % 13,406 289 13,406 32 26,813 575 26,813 547 2017 Senior Notes 4.000 % — — 7,500 — 2,333 — 15,000 — 2020 Senior Notes 3.875 % 14,531 85 11,571 — 29,063 168 17,707 32 2021 Senior Notes 3.125 % 11,719 — — — 19,792 — — — Other 76 — 67 — 89 — 77 — Total $ 90,544 $ 11,812 $ 95,687 $ 2,337 $ 180,639 $ 23,615 $ 191,538 $ 4,743 (1) The 2018 Term Loan has a blended rate of 1.872 %, which includes the impact of the interest rate swap entered into on August 4, 2020, which swapped $ 1.95 billion of notional value accruing interest at one month LIBOR plus 175 basis points for a fixed rate of 1.874 % per annum through the maturity date of the 2018 Term Loan. Excluding the impact of the interest rate swap, the 2018 Term Loan was accruing interest at 1.860 % as of June 30, 2021. Refer to Note 17 for more information on the Company’s interest rate swap. Revolving Credit Facility under the Senior Credit Agreement On July 7, 2021, the Company, through its wholly owned subsidiary, SBA Senior Finance II LLC, amended its Revolving Credit Facility to (1) increase the total commitments under the Facility from $ 1.25 billion to $ 1.5 billion, (2) extend the maturity date of the Facility to July 7, 2026 , (3) lower the applicable interest rate margins and commitment fees under the Facility, (4) provide mechanics relating to a transition away from LIBOR as a benchmark interest rate and the replacement of LIBOR by an alternative benchmark rate , (5) incorporate sustainability-linked targets which will adjust the Facility’s applicable interest and commitment fee rates upward or downward based on how the Company performs against those targets, and (6) amend certain other terms and conditions under the Senior Credit Agreement. As amended, the Revolving Credit Facility consists of a revolving loan under which up to $ 1.5 billion aggregate principal amount may be borrowed, repaid and redrawn, based upon specific financial ratios and subject to the satisfaction of other customary conditions to borrowing. Amounts borrowed under the Revolving Credit Facility accrue interest, at SBA Senior Finance II’s election, at either (1) the Eurodollar Rate plus a margin that ranges from 112.5 basis points to 150.0 basis points or (2) the Base Rate plus a margin that ranges from 12.5 basis points to 50.0 basis points, in each case based on the ratio of Consolidated Net Debt to Annualized Borrower EBITDA, calculated in accordance with the Senior Credit Agreement. In addition, SBA Senior Finance II is required to pay a commitment fee of between 0.15 % and 0.25 % per annum on the amount of unused commitment. During the three months ended June 30, 2021, the Company borrowed $ 100.0 million and repaid $ 605.0 million of the outstanding balance under the Revolving Credit Facility. During the six months ended June 30, 2021, the Company borrowed $ 810.0 million and repaid $ 1.1 billion of the outstanding balance under the Revolving Credit Facility. As of June 30, 2021, the balance outstanding under the Revolving Credit Facility was $ 85.0 million accruing interest at 1.600 % per annum. In addition, SBA Senior Finance II LLC, the Company’s wholly owned subsidiary (“SBA Senior Finance II”) was required to pay a commitment fee of 0.20 % per annum on the amount of the unused commitment. As of June 30, 2021, SBA Senior Finance II was in compliance with the financial covenants contained in the Senior Credit Agreement. Subsequent to June 30, 2021, the Company repaid $ 85.0 million of the outstanding balance under the Revolving Credit Facility. As of the date of this filing, no amount was outstanding under the Revolving Credit Facility. Term Loan under the Senior Credit Agreement During the three and six months ended June 30, 2021, 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, 2021, the 2018 Term Loan had a principal balance of $ 2.3 billion. Secured Tower Revenue Securities 2021 -1C Tower Securities On May 14, 2021 , the Company , through a New York common law trust (the “Trust”), issued $ 1.165 billion of Secured Tower Revenue Securities Series 2021-1C which have an anticipated repayment date of November 9, 2026 and a final maturity date of May 9, 2051 (the “2021-1C Tower Securities ”). The fixed interest rate on the 2021-1C Tower Securities is 1.631 % per annum, payable monthly. Net proceeds from this offering were used to repay the entire aggregate principal amount of the 2017-1C Tower Securities ($ 760.0 million) and the Secured Tower Revenue Securities, Series 2017-1R ($ 40.0 million) and for general corporate purposes. The Company has incurred deferred financing fees of $ 12.4 million in relation to this transaction, which are being amortized through the anticipated repayment date of the 2021-1C Tower Securities. In addition, to satisfy certain risk retention requirements of Regulation RR promulgated under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), SBA Guarantor, LLC, a wholly owned subsidiary, purchased $ 61.4 million of Secured Tower Revenue Securities Series 2021-1R issued by the Trust. These securities have an anticipated repayment date of November 9, 2026 and a final maturity date of May 9, 2051 (the “2021-1R Tower Securities”). The fixed interest rate on the 2021-1R Tower Securities is 3.625 % per annum, payable monthly. Principal and interest payments made on the 2021-1R Tower Securities eliminate in consolidation. As of June 30, 2021, the entities that are borrowers on the mortgage loan (the “Borrowers”) met the debt service coverage ratio required by the mortgage loan agreement and were in compliance with all other covenants as set forth in the agreement. The sole asset of the Trust consists of a non-recourse mortgage loan made in favor of the Borrowers. Senior Notes 2021 Senior Notes On January 29, 2021, the Company issued $ 1.5 billion of unsecured senior notes due February 1, 2029 at par value (the “2021 Senior Notes”). The 2021 Senior Notes accrue interest at a rate of 3.125 % per annum. Interest on the 2021 Senior Notes is due semi-annually on February 1 and August 1 of each year, beginning on August 1, 2021. The Company incurred financing fees of $ 14.5 million to date in relation to this transaction, which are being amortized through the maturity date. Net proceeds from this offering were used to redeem all of the outstanding principal amount of the 2017 Senior Notes, repay the amounts outstanding under the Revolving Credit Facility, and for general corporate purposes. The 2021 Senior Notes are subject to redemption in whole or in part on or after February 1, 2024 at the redemption prices set forth in the indenture agreement plus accrued and unpaid interest. Prior to February 1, 2024, the Company may, at its option, redeem up to 35 % of the aggregate principal amount of the 2021 Senior Notes originally issued at a redemption price of 103.125 % of the principal amount of the 2021 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 2021 Senior Notes during the twelve-month period beginning on the following dates at the following redemption prices: February 1, 2024 at 101.563 %, February 1, 2025 at 100.781 %, or February 1, 2026 until maturity at 100.000 %, of the principal amount of the 2021 Senior Notes to be redeemed on the redemption date plus accrued and unpaid interest. 2017 Senior Notes On February 11, 2021, the Company redeemed the entire $ 750.0 million balance of the 2017 Senior Notes with proceeds from the 2021 Senior Notes. In addition, the Company paid a $ 7.5 million call premium and expensed $ 4.2 million for the write-off of financing fees related to the redemption of the 2017 Senior Notes, which are reflected in loss from extinguishment of debt on the Consolidated Statement of Operations.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2021
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). Registration of Additional Shares On February 26, 2021, the Company filed with the Securities and Exchange Commission an automatic shelf registration statement for well-known seasoned issuers on Form S-3, which enables the Company to issue shares of its Class A common stock, preferred stock, debt securities, warrants, or depositary shares as well as units that include any of these securities. The Company will file a prospectus supplement containing the amount and type of securities each time it issues securities using its automatic shelf registration statement on Form S-3. No securities were issued under this automatic shelf registration statement through the date of this filing. 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. On November 2, 2020, the Company’s Board of Directors authorized a new $ 1.0 billion stock repurchase plan, replacing the prior plan authorized on July 29, 2019, which had a remaining authorization of $ 124.3 million. As of the date of this filing, the Company had $ 475.1 million authorization remaining under the new 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, 2021 2020 2021 2020 Total number of shares purchased (in millions) (1) — — 0.7 0.8 Average price paid per share (1) $ — $ — $ 258.33 $ 242.86 Total price paid (in millions) (1) $ — $ — $ 168.9 $ 200.0 (1) Amounts are calculated based on the trade date and differ from the Consolidated Statements of Cash Flows which calculate share repurchases based on the settlement date . Dividends For the six months ended June 30, 2021, 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 19, 2021 March 10, 2021 $ 0.58 $ 63.4 million March 26, 2021 April 26, 2021 May 20, 2021 $ 0.58 $ 63.4 million June 15, 2021 Dividends paid in 2021 and 2020 were ordinary income. Subsequent to June 30, 2021, 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 1, 2021 August 26, 2021 $ 0.58 September 23, 2021

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2021
Stock-Based Compensation [Abstract]
Stock-Based Compensation	12. STOCK-BASED COMPENSATION Stock Options The following table summarizes the Company’s activities with respect to its stock option plans for the six months ended June 30, 2021 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, 2020 3,202 $ 143.01 Exercised ( 262 ) $ 124.23 Forfeited/canceled ( 12 ) $ 179.51 Outstanding at June 30, 2021 2,928 $ 144.55 3.3 $ 509,774 Exercisable at June 30, 2021 2,191 $ 134.00 3.0 $ 404,727 Unvested at June 30, 2021 737 $ 175.96 4.4 $ 105,047 The total intrinsic value for options exercised during the six months ended June 30, 2021 was $ 44.8 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, 2021: 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, 2020 (1) 274 $ 206.48 148 $ 376.48 Granted (1) 106 $ 238.09 154 $ 236.64 Vested ( 127 ) $ 187.00 — $ — Forfeited/canceled ( 6 ) $ 230.33 ( 3 ) $ 361.43 Outstanding at June 30, 2021 247 $ 229.57 299 $ 304.49 (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, 2021
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 $ 651.1 million as of December 31, 2020, 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, 2021
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, 2021 (in thousands) Revenues $ 418,829 $ 105,266 $ 51,433 $ — $ 575,528 Cost of revenues (1) 63,948 31,402 40,409 — 135,759 Operating profit 354,881 73,864 11,024 — 439,769 Selling, general, and administrative expenses 29,201 9,521 3,994 11,229 53,945 Acquisition and new business initiatives related adjustments and expenses 4,596 2,198 — — 6,794 Asset impairment and decommission costs 2,690 961 — 146 3,797 Depreciation, amortization and accretion 128,034 44,744 1,017 1,674 175,469 Operating income (loss) 190,360 16,440 6,013 ( 13,049 ) 199,764 Other income (expense) (principally interest expense and other expense) 155 155 Income before income taxes 199,919 Cash capital expenditures (2) 88,051 18,728 721 1,246 108,746 For the three months ended June 30, 2020 Revenues $ 388,018 $ 94,385 $ 24,823 $ — $ 507,226 Cost of revenues (1) 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 income (expense) (principally interest expense and other expense) ( 134,101 ) ( 134,101 ) Income before income taxes 22,953 Cash capital expenditures (2) 38,507 17,201 282 1,202 57,192 Domestic Site Int'l Site Site Leasing Leasing Development Other Total For the six months ended June 30, 2021 (in thousands) Revenues $ 822,407 $ 206,790 $ 95,069 $ — $ 1,124,266 Cost of revenues (1) 129,069 61,649 74,815 — 265,533 Operating profit 693,338 145,141 20,254 — 858,733 Selling, general, and administrative expenses 57,257 17,281 9,783 21,225 105,546 Acquisition and new business initiatives related adjustments and expenses 7,928 3,867 — — 11,795 Asset impairment and decommission costs 6,561 1,993 — 146 8,700 Depreciation, amortization and accretion 267,025 87,865 1,162 3,298 359,350 Operating income (loss) 354,567 34,135 9,309 ( 24,669 ) 373,342 Other income (expense) (principally interest expense and other expense) ( 206,092 ) ( 206,092 ) Income before income taxes 167,250 Cash capital expenditures (2) 1,147,729 35,675 1,591 1,996 1,186,991 For the six months ended June 30, 2020 Revenues $ 774,361 $ 200,397 $ 49,534 $ — $ 1,024,292 Cost of revenues (1) 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 income (expense) (principally interest expense and other expense) ( 479,774 ) ( 479,774 ) Loss before income taxes ( 171,518 ) Cash capital expenditures (2) 139,813 43,634 1,064 2,396 186,907 Domestic Site Int'l Site Site Leasing Leasing Development Other (3) Total Assets (in thousands) As of June 30, 2021 $ 6,716,342 $ 2,912,584 $ 84,486 $ 246,901 $ 9,960,313 As of December 31, 2020 $ 5,893,636 $ 2,955,563 $ 61,729 $ 247,090 $ 9,158,018 (1) Excludes depreciation, amortization, and accretion. (2) Includes cash paid for capital expenditures, acquisitions, and right-of-use assets. (3) Assets in Other consist primarily of general corporate assets and short-term investments. For the six months ended June 30, 2021 and 2020, site leasing revenue in Brazil was $ 113.8 million and $ 115.3 million, respectively. Other than Brazil, no foreign country represented a material amount of the Company’s total revenues in any of the periods presented. Total long-lived assets in Brazil were $ 1.0 billion as of June 30, 2021 and December 31, 2020.

Earnings Per Share

Earnings Per Share	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Earnings Per Share	15. EARNINGS PER SHARE Basic earnings per share was computed by dividing net 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 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, 2021 and 2020 (in thousands, except per share data): For the three months For the six months ended June 30, ended June 30, 2021 2020 2021 2020 Numerator: Net income (loss) attributable to SBA Communications Corporation $ 152,669 $ 22,813 $ 140,922 $ ( 104,247 ) Denominator: Basic weighted-average shares outstanding 109,412 111,738 109,441 111,823 Dilutive impact of stock options, RSUs, and PSUs 1,889 1,896 1,769 — Diluted weighted-average shares outstanding 111,301 113,634 111,210 111,823 Net income (loss) per common share attributable to SBA Communications Corporation: Basic $ 1.40 $ 0.20 $ 1.29 $ ( 0.93 ) Diluted $ 1.37 $ 0.20 $ 1.27 $ ( 0.93 ) For the three months ended June 30, 2021 and 2020, the diluted weighted average number of common shares outstanding excluded an immaterial number of shares issuable upon exercise of the Company’s stock options because the impact would be anti-dilutive. For the six months ended June 30, 2021, the diluted weighted average number of common shares outstanding excluded an immaterial number of 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 underlying stock options outstanding, 0.3 million shares underlying RSUs outstanding, and 0.1 million shares underlying PSUs outstanding, were excluded as the effect would be anti-dilutive.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests	6 Months Ended
	Jun. 30, 2021
Redeemable Noncontrolling Interests [Abstract]
Redeemable Noncontrolling Interests	16. REDEEMABLE NONCONTROLLING INTERESTS As a result of its acquisition of additional interests of a previously unconsolidated joint venture in South Africa which operated under the name Atlas Tower South Africa (“Atlas SA”), the Company has consolidated the results of the entity into its financial statements since August 2019. 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 for the remaining 6% minority interest based on a formulaic approach. During the third quarter of 2020, the Company noticed its intent to exercise its call option to acquire its remaining 6 % interest in the joint venture. On March 25, 2021, the Company remitted $ 13.7 million to the seller as closing consideration for the remaining 6 % interest in the joint venture, subject to an earnout in September 2021 based on the attainment of certain future performance metrics. The parties are currently in litigation regarding various issues arising in connection with the closing of the transaction. Consequently, the Company is retaining the fair value of the acquired 6 % noncontrolling interest in Redeemable Noncontrolling Interests until such time as the litigation is resolved. The fair value assigned to the redeemable noncontrolling interest as of June 30, 2021 is based on the contractually-defined redemption value, which was delivered as closing consideration for the remaining 6 % interest. In accordance with the terms of the call option, the amount of closing consideration was fixed upon exercise of the call option. 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). For the six months ended June 30, 2021, the loss attributable to the 6 % interest was immaterial.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	6 Months Ended
	Jun. 30, 2021
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. On August 4, 2020, the Company, through its wholly owned subsidiary, SBA Senior Finance II, terminated its existing $ 1.95 billion cash flow hedge on a portion of its 2018 Term Loan in exchange for a payment of $ 176.2 million. On the same date, the Company entered into an interest rate swap for $ 1.95 billion of notional value accruing interest at one month LIBOR plus 175 basis points for a fixed rate of 1.874 % per annum through the maturity date of the 2018 Term Loan. The Company designated this interest rate swap as a cash flow hedge as it is expected to be highly effective at offsetting changes in cash flows of the LIBOR based component interest payments of its 2018 Term Loan. As of June 30, 2021, the hedge remains highly effective; therefore, subsequent changes in the fair value are recorded in Accumulated other comprehensive loss, net. As of June 30, 2021 and December 31, 2020, the interest rate swap has a fair value of $ 38.0 million and $ 12.1 million, respectively, and is recorded in Other assets on the Consolidated Balance Sheets. On August 4, 2020, the Company also terminated its existing interest rate swaps, which were previously de-designated as cash flow hedges. There was no cash transferred in connection with the termination of these swaps. The Company reclassifies the fair value of its interest rate swaps recorded in Accumulated other comprehensive loss, net on their de-designation date to non-cash interest expense on the Consolidated Statements of Operations over their respective remaining term end dates, which range from 2023 to 2025 . Accumulated other comprehensive loss, net includes an aggregate of $ 92.5 million and $ 140.9 million of accumulated derivative net losses as of June 30, 2021 and December 31, 2020, respectively. 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 cash flows associated with these activities are reported in Net cash provided by operating activities on the Consolidated Statements of Cash Flows with the exception of the termination of interest rate swaps, which are recorded in Net cash used in financing activities. 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, 2021 and 2020. For the three months For the six months ended June 30, ended June 30, 2021 2020 2021 2020 Cash Flow Hedge - Interest Rate Swap Agreement (in thousands) Change in fair value recorded in Accumulated other comprehensive loss, net $ ( 5,657 ) $ ( 17,326 ) $ 25,909 $ ( 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 $ 11,222 $ 4,642 $ 22,443 $ 9,285 Change in fair value recorded in Other income (expense), net $ — $ ( 774 ) $ — $ 3,192

Basis of Presentation (Policy)

Basis of Presentation (Policy)	6 Months Ended
	Jun. 30, 2021
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, 2020 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 translation gains and losses are reported as foreign currency translation adjustments through Accumulated other comprehensive loss, net 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. Remeasurement 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 Statements of Operations as settlement is anticipated or planned in the foreseeable future. The Company recorded a $ 73.6 million gain and a $ 20.4 million loss, net of taxes, on the remeasurement of intercompany loans for the three months ended June 30, 2021 and 2020, respectively, and a $ 16.6 million gain and a $ 173.2 million loss, net of taxes, on the remeasurement of intercompany loans for the six months ended June 30, 2021 and 2020, respectively, due to changes in foreign exchange rates. During the six months ended June 30, 2021, the Company repaid $ 116.3 million of the intercompany loans. As of June 30, 2021 and December 31, 2020, the aggregate amount outstanding under the intercompany loan agreements subject to remeasurement with the Company’s foreign subsidiaries was $ 794.1 million and $ 909.8 million, respectively.
Reference Rate Reform	Reference Rate Reform ASU 2020-04 and ASU 2021-01, Reference Rate Reform, provide 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. An entity may elect to apply the amendments prospectively through December 31, 2022. The ICE Benchmark Administration Limited (“IBA”) intends to cease the publication of USD LIBOR as follows: the 1 week and 2 month tenors on December 31, 2021 and all other tenors on June 30, 2023. On July 7, 2021, the Company amended its Credit Facility to provide mechanics relating to a transition away from LIBOR as a benchmark interest rate and the replacement of LIBOR by an alternative benchmark rate. Refer to Note 10 for further discussion of the Credit Facility. As of June 30, 2021, other than modifications to the Credit Facility, 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, 2021
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, 2021 2020 2021 2020 Asset impairment (1) $ 2,211 $ 5,424 $ 5,366 $ 16,432 Write-off of carrying value of decommissioned towers 1,264 739 2,592 3,439 Other (including third party decommission costs) 322 79 742 726 Total asset impairment and decommission costs $ 3,797 $ 6,242 $ 8,700 $ 20,597 (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, 2021
Cash, Cash Equivalents, and Restricted Cash [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	As of As of June 30, 2021 December 31, 2020 Included on Balance Sheet (in thousands) Cash and cash equivalents $ 273,803 $ 308,560 Securitization escrow accounts 62,201 31,507 Restricted cash - current asset Payment and performance bonds 169 164 Restricted cash - current asset Surety bonds and workers compensation 2,637 2,577 Other assets - noncurrent Total cash, cash equivalents, and restricted cash $ 338,810 $ 342,808

Costs and Estimated Earnings _2

Costs and Estimated Earnings on Uncompleted Contracts (Tables)	6 Months Ended
	Jun. 30, 2021
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Summary of Costs and Estimated Earnings on Uncompleted Contracts	As of As of June 30, 2021 December 31, 2020 (in thousands) Costs incurred on uncompleted contracts $ 73,925 $ 54,949 Estimated earnings 27,991 21,778 Billings to date ( 71,992 ) ( 43,725 ) $ 29,924 $ 33,002
Costs and Estimated Earnings on Uncompleted Contracts Accompanying Consolidated Balance Sheets	As of As of June 30, 2021 December 31, 2020 (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 33,237 $ 34,796 Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities) ( 3,313 ) ( 1,794 ) $ 29,924 $ 33,002

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets and Other Assets (Tables)	6 Months Ended
	Jun. 30, 2021
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Schedule of Prepaid Expense and Other Current Assets	As of As of June 30, 2021 December 31, 2020 (in thousands) Prepaid ground rent $ 2,137 $ 1,412 Prepaid real estate taxes 2,069 3,153 Prepaid taxes 9,866 8,121 Other current assets 12,768 11,189 Total prepaid expenses and other current assets $ 26,840 $ 23,875
Schedule of Other Assets	As of As of June 30, 2021 December 31, 2020 (in thousands) Straight-line rent receivable $ 333,434 $ 321,816 Interest rate swap asset (1) 38,032 12,123 Loan receivables 5,382 5,931 Deferred lease costs, net 4,960 4,788 Deferred tax asset - long term 38,890 53,722 Long-term investments 51,941 57,575 Other 19,359 22,037 Total other assets $ 491,998 $ 477,992 (1) Refer to Note 17 for more information on the Company’s interest rate swaps.

Acquisitions (Tables)

Acquisitions (Tables)	6 Months Ended
	Jun. 30, 2021
Acquisitions [Abstract]
Schedule of Acquisition Capital Expenditures	For the three months For the six months ended June 30, ended June 30, 2021 2020 2021 2020 (in thousands) Acquisitions of towers and related intangible assets (1) $ 67,255 $ 17,150 $ 168,885 $ 99,424 Acquisition of right-of-use assets (2) 1,783 — 947,698 — Land buyouts and other assets (3) 8,137 12,354 13,268 19,611 Total cash acquisition capital expenditures $ 77,175 $ 29,504 $ 1,129,851 $ 119,035 (1) The six months ended June 30, 2021 includes $ 77.1 million of acquisitions completed during the fourth quarter of 2020 which were not funded until the first quarter of 2021. (2) During the six months ended June 30, 2021, the Company acquired the exclusive right to lease and operate 699 utility transmission structures, which included existing wireless tenant licenses from PG&E for $ 955.8 million. The difference between the agreed upon purchase price of $ 955.8 million and the cash acquisition amount is due to working capital adjustments. The Company accounted for the payment with respect to these sites as a right-of-use asset, which is recorded in Acquired and other right of use assets, net on its Consolidated Balance Sheets. The payments associated with the right of use of these structures has been fully funded and will be recognized over 70 years. (3) In addition, the Company paid $ 3.6 million and $ 1.6 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended June 30, 2021 and 2020, respectively, and paid $ 6.4 million and $ 3.6 million for ground lease extensions and term easements on land underlying the Company’s towers during the six months ended June 30, 2021 and 2020, 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, 2021
Property and Equipment, Net [Abstract]
Property and Equipment, Net (Including Assets Held Under Capital Leases)	As of As of June 30, 2021 December 31, 2020 (in thousands) Towers and related components $ 5,292,525 $ 5,213,019 Construction-in-process (1) 35,143 38,065 Furniture, equipment, and vehicles 55,750 54,610 Land, buildings, and improvements 831,958 818,272 Total property and equipment 6,215,376 6,123,966 Less: accumulated depreciation ( 3,590,279 ) ( 3,446,640 ) Property and equipment, net $ 2,625,097 $ 2,677,326 (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, 2021
Intangible Assets, Net [Abstract]
Gross and Net Carrying Amounts for each Major Class of Intangible Assets	As of June 30, 2021 As of December 31, 2020 Gross carrying Accumulated Net book Gross carrying Accumulated Net book amount amortization value amount amortization value (in thousands) Current contract intangibles $ 4,976,910 $ ( 2,643,245 ) $ 2,333,665 $ 4,876,880 $ ( 2,471,438 ) $ 2,405,442 Network location intangibles 1,796,926 ( 1,078,975 ) 717,951 1,770,944 ( 1,020,236 ) 750,708 Intangible assets, net $ 6,773,836 $ ( 3,722,220 ) $ 3,051,616 $ 6,647,824 $ ( 3,491,674 ) $ 3,156,150

Accrued Expenses (Tables)

Accrued Expenses (Tables)	6 Months Ended
	Jun. 30, 2021
Accrued Expenses [Abstract]
Schedule of Accrued Expenses	As of As of June 30, 2021 December 31, 2020 (in thousands) Salaries and benefits $ 21,397 $ 20,958 Real estate and property taxes 9,932 9,583 Unpaid capital expenditures 6,987 6,073 Other 30,339 26,417 Total accrued expenses $ 68,655 $ 63,031

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Debt [Abstract]
Schedule of Principal Values, Fair Values, and Carrying Values of Debt	As of As of June 30, 2021 December 31, 2020 Maturity Date Principal Balance Fair Value Carrying Value Principal Balance Fair Value Carrying Value Revolving Credit Facility (1) Apr. 11, 2023 $ 85,000 $ 85,000 $ 85,000 $ 380,000 $ 380,000 $ 380,000 2018 Term Loan Apr. 11, 2025 2,328,000 2,304,720 2,315,022 2,340,000 2,310,750 2,325,391 2013-2C Tower Securities (2) Apr. 11, 2023 575,000 589,065 572,680 575,000 599,662 572,063 2014-2C Tower Securities (2) Oct. 8, 2024 620,000 653,027 616,608 620,000 670,003 616,131 2017-1C Tower Securities (2) Apr. 11, 2022 — — — 760,000 774,410 757,165 2018-1C Tower Securities (2) Mar. 9, 2023 640,000 658,419 636,920 640,000 671,341 636,045 2019-1C Tower Securities (2) Jan. 12, 2025 1,165,000 1,191,061 1,156,267 1,165,000 1,218,613 1,155,106 2020-1C Tower Securities (2) Jan. 9, 2026 750,000 756,480 743,365 750,000 752,910 742,782 2020-2C Tower Securities (2) Jan. 11, 2028 600,000 611,646 594,387 600,000 597,840 594,081 2021-1C Tower Securities (2) Nov. 9, 2026 1,165,000 1,164,918 1,152,901 — — — 2016 Senior Notes Sep. 1, 2024 1,100,000 1,119,151 1,090,317 1,100,000 1,127,500 1,088,924 2017 Senior Notes Oct. 1, 2022 — — — 750,000 757,500 746,642 2020 Senior Notes Feb. 15, 2027 1,500,000 1,545,000 1,482,803 1,500,000 1,567,500 1,481,466 2021 Senior Notes Feb. 1, 2029 1,500,000 1,449,375 1,486,177 — — — Total debt $ 12,028,000 $ 12,127,862 $ 11,932,447 $ 11,180,000 $ 11,428,029 $ 11,095,796 Less: current maturities of long-term debt ( 24,000 ) ( 24,000 ) Total long-term debt, net of current maturities $ 11,908,447 $ 11,071,796 (1) On July 7, 2021, the Company amended its Revolving Credit Facility to extend the maturity date to July 7, 2026 as well as amend certain other terms and conditions under the Senior Credit Agreement. For further discussion of the amendments, refer to “Revolving Credit Facility under the Senior Credit Agreement” below. (2) The maturity date represents the anticipated repayment date for each issuance.
Schedule of Cash and Non-Cash Interest Expense	Interest For the three months ended June 30, For the six months ended June 30, Rates as of 2021 2020 2021 2020 June 30, Cash Non-cash Cash Non-cash Cash Non-cash Cash Non-cash 2021 Interest Interest Interest Interest Interest Interest Interest Interest (in thousands) Revolving Credit Facility 1.600 % $ 1,573 $ — $ 1,661 $ — $ 3,721 $ — $ 4,375 $ — 2018 Term Loan (1) 1.872 % 11,067 11,438 20,950 2,030 22,064 22,872 43,152 4,052 2013-2C Tower Securities 3.722 % 5,396 — 5,396 — 10,792 — 10,792 — 2014-2C Tower Securities 3.869 % 6,046 — 6,046 — 12,092 — 12,092 — 2015-1C Tower Securities 3.156 % — — 3,985 — — — 7,969 — 2016-1C Tower Securities 2.877 % — — 5,090 — — — 10,181 — 2017-1C Tower Securities 3.168 % 3,115 — 6,088 — 9,201 — 12,173 — 2018-1C Tower Securities 3.448 % 5,570 — 5,570 — 11,141 — 11,141 — 2019-1C Tower Securities 2.836 % 8,357 — 8,357 — 16,714 — 16,714 — 2020-1C Tower Securities 1.884 % 3,598 — — — 7,195 — — — 2020-2C Tower Securities 2.328 % 3,540 — — — 7,079 — — — 2021-1C Tower Securities 1.631 % 2,550 — — — 2,550 — — — 2014 Senior Notes 4.875 % — — — 275 — — 3,352 112 2016 Senior Notes 4.875 % 13,406 289 13,406 32 26,813 575 26,813 547 2017 Senior Notes 4.000 % — — 7,500 — 2,333 — 15,000 — 2020 Senior Notes 3.875 % 14,531 85 11,571 — 29,063 168 17,707 32 2021 Senior Notes 3.125 % 11,719 — — — 19,792 — — — Other 76 — 67 — 89 — 77 — Total $ 90,544 $ 11,812 $ 95,687 $ 2,337 $ 180,639 $ 23,615 $ 191,538 $ 4,743 (1) The 2018 Term Loan has a blended rate of 1.872 %, which includes the impact of the interest rate swap entered into on August 4, 2020, which swapped $ 1.95 billion of notional value accruing interest at one month LIBOR plus 175 basis points for a fixed rate of 1.874 % per annum through the maturity date of the 2018 Term Loan. Excluding the impact of the interest rate swap, the 2018 Term Loan was accruing interest at 1.860 % as of June 30, 2021. Refer to Note 17 for more information on the Company’s interest rate swap.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2021
Shareholders' Equity [Abstract]
Summary of Share Repurchases	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, 2021 2020 2021 2020 Total number of shares purchased (in millions) (1) — — 0.7 0.8 Average price paid per share (1) $ — $ — $ 258.33 $ 242.86 Total price paid (in millions) (1) $ — $ — $ 168.9 $ 200.0 (1) Amounts are calculated based on the trade date and differ from the Consolidated Statements of Cash Flows which calculate share repurchases based on the settlement date .
Schedule of Dividends Paid and Dividends Declared	For the six months ended June 30, 2021, 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 19, 2021 March 10, 2021 $ 0.58 $ 63.4 million March 26, 2021 April 26, 2021 May 20, 2021 $ 0.58 $ 63.4 million June 15, 2021 Dividends paid in 2021 and 2020 were ordinary income. Subsequent to June 30, 2021, 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 1, 2021 August 26, 2021 $ 0.58 September 23, 2021

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2021
Stock-Based Compensation [Abstract]
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, 2020 3,202 $ 143.01 Exercised ( 262 ) $ 124.23 Forfeited/canceled ( 12 ) $ 179.51 Outstanding at June 30, 2021 2,928 $ 144.55 3.3 $ 509,774 Exercisable at June 30, 2021 2,191 $ 134.00 3.0 $ 404,727 Unvested at June 30, 2021 737 $ 175.96 4.4 $ 105,047
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, 2020 (1) 274 $ 206.48 148 $ 376.48 Granted (1) 106 $ 238.09 154 $ 236.64 Vested ( 127 ) $ 187.00 — $ — Forfeited/canceled ( 6 ) $ 230.33 ( 3 ) $ 361.43 Outstanding at June 30, 2021 247 $ 229.57 299 $ 304.49 (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, 2021
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, 2021 (in thousands) Revenues $ 418,829 $ 105,266 $ 51,433 $ — $ 575,528 Cost of revenues (1) 63,948 31,402 40,409 — 135,759 Operating profit 354,881 73,864 11,024 — 439,769 Selling, general, and administrative expenses 29,201 9,521 3,994 11,229 53,945 Acquisition and new business initiatives related adjustments and expenses 4,596 2,198 — — 6,794 Asset impairment and decommission costs 2,690 961 — 146 3,797 Depreciation, amortization and accretion 128,034 44,744 1,017 1,674 175,469 Operating income (loss) 190,360 16,440 6,013 ( 13,049 ) 199,764 Other income (expense) (principally interest expense and other expense) 155 155 Income before income taxes 199,919 Cash capital expenditures (2) 88,051 18,728 721 1,246 108,746 For the three months ended June 30, 2020 Revenues $ 388,018 $ 94,385 $ 24,823 $ — $ 507,226 Cost of revenues (1) 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 income (expense) (principally interest expense and other expense) ( 134,101 ) ( 134,101 ) Income before income taxes 22,953 Cash capital expenditures (2) 38,507 17,201 282 1,202 57,192 Domestic Site Int'l Site Site Leasing Leasing Development Other Total For the six months ended June 30, 2021 (in thousands) Revenues $ 822,407 $ 206,790 $ 95,069 $ — $ 1,124,266 Cost of revenues (1) 129,069 61,649 74,815 — 265,533 Operating profit 693,338 145,141 20,254 — 858,733 Selling, general, and administrative expenses 57,257 17,281 9,783 21,225 105,546 Acquisition and new business initiatives related adjustments and expenses 7,928 3,867 — — 11,795 Asset impairment and decommission costs 6,561 1,993 — 146 8,700 Depreciation, amortization and accretion 267,025 87,865 1,162 3,298 359,350 Operating income (loss) 354,567 34,135 9,309 ( 24,669 ) 373,342 Other income (expense) (principally interest expense and other expense) ( 206,092 ) ( 206,092 ) Income before income taxes 167,250 Cash capital expenditures (2) 1,147,729 35,675 1,591 1,996 1,186,991 For the six months ended June 30, 2020 Revenues $ 774,361 $ 200,397 $ 49,534 $ — $ 1,024,292 Cost of revenues (1) 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 income (expense) (principally interest expense and other expense) ( 479,774 ) ( 479,774 ) Loss before income taxes ( 171,518 ) Cash capital expenditures (2) 139,813 43,634 1,064 2,396 186,907 Domestic Site Int'l Site Site Leasing Leasing Development Other (3) Total Assets (in thousands) As of June 30, 2021 $ 6,716,342 $ 2,912,584 $ 84,486 $ 246,901 $ 9,960,313 As of December 31, 2020 $ 5,893,636 $ 2,955,563 $ 61,729 $ 247,090 $ 9,158,018 (1) Excludes depreciation, amortization, and accretion. (2) Includes cash paid for capital expenditures, acquisitions, and right-of-use assets. (3) Assets in Other consist primarily of general corporate assets and short-term investments.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	6 Months Ended
	Jun. 30, 2021
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, 2021 2020 2021 2020 Numerator: Net income (loss) attributable to SBA Communications Corporation $ 152,669 $ 22,813 $ 140,922 $ ( 104,247 ) Denominator: Basic weighted-average shares outstanding 109,412 111,738 109,441 111,823 Dilutive impact of stock options, RSUs, and PSUs 1,889 1,896 1,769 — Diluted weighted-average shares outstanding 111,301 113,634 111,210 111,823 Net income (loss) per common share attributable to SBA Communications Corporation: Basic $ 1.40 $ 0.20 $ 1.29 $ ( 0.93 ) Diluted $ 1.37 $ 0.20 $ 1.27 $ ( 0.93 )

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2021
Derivatives and Hedging Activities [Abstract]
Schedule of Effect of Derivatives on the Consolidated Statements of Operations	For the three months For the six months ended June 30, ended June 30, 2021 2020 2021 2020 Cash Flow Hedge - Interest Rate Swap Agreement (in thousands) Change in fair value recorded in Accumulated other comprehensive loss, net $ ( 5,657 ) $ ( 17,326 ) $ 25,909 $ ( 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 $ 11,222 $ 4,642 $ 22,443 $ 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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Basis of Presentation [Abstract]
Gain (loss) on remeasurement of U.S. dollar denominated intercompany loan	$ 73.6	$ (20.4)	$ 16.6	$ (173.2)
Repayment of debt			116.3
Intercompany foreign currency outstanding balance	$ 794.1		$ 794.1		$ 909.8

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investments	$ 51,941		$ 57,575
Short-term investments	800		$ 700
Purchase of short-term investments	755,100	$ 1,100,000
Proceeds from sale of short-term investments	$ 755,100	$ 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	1.50%

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Fair Value Measurements [Abstract]
Asset impairment	$ 2,211	$ 5,424	$ 5,366	$ 16,432
Write-off of carrying value of decommissioned towers	1,264	739	2,592	3,439
Other (including third party decommission costs)	322	79	742	726
Total asset impairment and decommission costs	$ 3,797	$ 6,242	$ 8,700	$ 20,597

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash (Narrative) (Details) - USD ($)	Jun. 30, 2021	Dec. 31, 2020
Restricted Cash And Cash Equivalents Items [Line Items]
Surety, payment and performance bonds	$ 41,900,000	$ 41,800,000
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, 2021	Dec. 31, 2020	Jun. 30, 2020	Dec. 31, 2019
Restricted Cash And Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 273,803	$ 308,560
Restricted cash - current asset	62,370	31,671
Total cash, cash equivalents, and restricted cash	338,810	342,808	$ 251,638	$ 141,120
Securitization Escrow Accounts [Member] | Restricted Cash - Current Asset [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - current asset	62,201	31,507
Payment and Performance Bonds [Member] | Restricted Cash - Current Asset [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - current asset	169	164
Surety Bonds and Workers Compensation [Member] | Other Assets - Noncurrent [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - noncurrent asset	$ 2,637	$ 2,577

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, 2021	Dec. 31, 2020
Concentration Risk [Line Items]
Number of significant customers	8	8
Eight Largest Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage	98.90%	99.40%

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, 2021	Dec. 31, 2020
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Costs incurred on uncompleted contracts	$ 73,925	$ 54,949
Estimated earnings	27,991	21,778
Billings to date	(71,992)	(43,725)
Costs and estimated earnings on uncompleted contracts	$ 29,924	$ 33,002

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, 2021	Dec. 31, 2020
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts	$ 33,237	$ 34,796
Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities)	(3,313)	(1,794)
Costs and estimated earnings on uncompleted contracts	$ 29,924	$ 33,002

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, 2021	Dec. 31, 2020
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Prepaid ground rent	$ 2,137	$ 1,412
Prepaid real estate taxes	2,069	3,153
Prepaid taxes	9,866	8,121
Other current assets	12,768	11,189
Total prepaid expenses and other current assets	$ 26,840	$ 23,875

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, 2021	Dec. 31, 2020
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Straight-line rent receivable	$ 333,434	$ 321,816
Interest rate swap asset	38,032	12,123
Loan receivables	5,382	5,931
Deferred lease costs, net	4,960	4,788
Deferred tax asset - long term	38,890	53,722
Long-term investments	51,941	57,575
Other	19,359	22,037
Total other assets	$ 491,998	$ 477,992

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Millions	1 Months Ended	6 Months Ended
	Aug. 05, 2021USD ($)item	Jun. 30, 2021USD ($)item	Dec. 31, 2020USD ($)
Business Acquisition [Line Items]
Performance targets, maximum potential obligation		$ 17.1	$ 35
Other Acquisitions [Member]
Business Acquisition [Line Items]
Number of towers acquired | item		89
Property and equipment		$ 7.8
Intangible assets		76.4
Other net assets and liabilities assumed		$ 84.7
Subsequent Event [Member] | Airtel Tanzania [Member]
Business Acquisition [Line Items]
Cash paid for acquisition	$ 270
Number of communication sites acquired | item	1,800
Subsequent Event [Member] | Airtel Tanzania [Member] | Previously Announced [Member]
Business Acquisition [Line Items]
Cash paid for acquisition	$ 175
Number of communication sites acquired | item	1,400

Acquisitions (Schedule of Acqui

Acquisitions (Schedule of Acquisition Capital Expenditures) (Details) $ in Thousands	Feb. 16, 2021USD ($)item	Jun. 30, 2021USD ($)	Dec. 31, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)
Business Acquisition [Line Items]
Acquisitions of towers and related intangible assets		$ 67,255	$ 77,100	$ 17,150	$ 168,885	$ 99,424
Acquisition of right-of-use assets		1,783			947,698
Land buyouts and other assets		8,137		12,354	13,268	19,611
Total cash acquisition capital expenditures		77,175		29,504	1,129,851	119,035
Ground lease extensions		$ 3,600		$ 1,600	$ 6,400	$ 3,600
Exclusive Right to Lease and Operate Utility Transmission Structures [Member]
Business Acquisition [Line Items]
Number of utility transmission structures acquired | item	699
Consideration transferred	$ 955,800
Lease term	70 years

Property and Equipment, Net (Na

Property and Equipment, Net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Property and Equipment, Net [Abstract]
Depreciation expense	$ 68,200	$ 71,300	$ 139,800	$ 143,200
Unpaid capital expenditures	$ 6,987		$ 6,987		$ 6,073

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, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 6,215,376	$ 6,123,966
Less: accumulated depreciation	(3,590,279)	(3,446,640)
Property and equipment, net	2,625,097	2,677,326
Towers and Related Components [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	5,292,525	5,213,019
Construction-In-Process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	35,143	38,065
Furniture, Equipment and Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	55,750	54,610
Land, Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 831,958	$ 818,272

Intangible Assets, Net (Narrati

Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Intangible Assets, Net [Abstract]
Amortization expense	$ 103.2	$ 107.4	$ 212.9	$ 218

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, 2021	Dec. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 6,773,836	$ 6,647,824
Accumulated amortization	(3,722,220)	(3,491,674)
Net book value	3,051,616	3,156,150
Current Contract Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	4,976,910	4,876,880
Accumulated amortization	(2,643,245)	(2,471,438)
Net book value	2,333,665	2,405,442
Network Location Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,796,926	1,770,944
Accumulated amortization	(1,078,975)	(1,020,236)
Net book value	$ 717,951	$ 750,708

Accrued Expenses (Schedule of A

Accrued Expenses (Schedule of Accrued Expenses) (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Accrued Expenses [Abstract]
Salaries and benefits	$ 21,397	$ 20,958
Real estate and property taxes	9,932	9,583
Unpaid capital expenditures	6,987	6,073
Other	30,339	26,417
Total accrued expenses	$ 68,655	$ 63,031

Debt (Revolving Credit Facility

Debt (Revolving Credit Facility under the Senior Credit Agreement) (Narrative) (Details) - USD ($)	Jul. 07, 2021	Aug. 05, 2021	Jun. 30, 2021	Jun. 30, 2021	Jun. 30, 2020
Line of Credit Facility [Line Items]
Repayments of revolving credit facility				$ 1,105,000,000	$ 1,005,000,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity			$ 1,250,000,000	$ 1,250,000,000
Line of credit facility, commitment fee				0.20%
Borrowings on the revolving credit facility			100,000,000	$ 810,000,000
Repayments of revolving credit facility			605,000,000	1,100,000,000
Line of credit facility, outstanding			$ 85,000,000	$ 85,000,000
Revolving credit facility, effective interest rate			1.60%	1.60%
Revolving Credit Facility [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,500,000,000
Revolving credit facility, maturity date	Jul. 7, 2026
Repayments of revolving credit facility		$ 85,000,000
Line of credit facility, remaining borrowing capacity		$ 0
Minimum [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate				1.125%
Minimum [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee	0.15%
Minimum [Member] | Revolving Credit Facility [Member] | Eurodollar [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	1.125%
Minimum [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	0.125%
Maximum [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate				1.50%
Maximum [Member] | Revolving Credit Facility [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee	0.25%
Maximum [Member] | Revolving Credit Facility [Member] | Eurodollar [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	1.50%
Maximum [Member] | Revolving Credit Facility [Member] | Base Rate [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Basis spread on variable interest rate	0.50%

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, 2021	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 12,028,000,000	$ 12,028,000,000	$ 11,180,000,000
2018 Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	2,328,000,000	2,328,000,000	$ 2,340,000,000
Repayment of term loans	$ 6,000,000	$ 12,000,000

Debt (Secured Tower Revenue Sec

Debt (Secured Tower Revenue Securities) (Narrative) (Details) - USD ($)	May 14, 2021	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt instrument, principal amount		$ 12,028,000,000	$ 11,180,000,000
2021-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 1,165,000,000	$ 1,165,000,000
Debt instrument, interest rate, stated percentage		1.631%
Repayment date of debt instrument		Nov. 9, 2026
Debt instrument, maturity date		May 9, 2051
Financing fees	12,400,000
2017-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount			$ 760,000,000
Debt instrument, interest rate, stated percentage		3.168%
Debt instrument, maturity date		Apr. 11, 2022
Repayments of long-term debt	760,000,000
2017-1R Tower Securities [Member]
Debt Instrument [Line Items]
Repayments of long-term debt	40,000,000
2021-1R Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 61,400,000
Debt instrument, interest rate, stated percentage		3.625%
Repayment date of debt instrument		Nov. 9, 2026
Debt instrument, maturity date		May 9, 2051

Debt (Senior Notes) (Narrative)

Debt (Senior Notes) (Narrative) (Details) - USD ($)	Feb. 11, 2021	Jun. 30, 2021	Jan. 29, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Debt instrument, principal amount		$ 12,028,000,000		$ 11,180,000,000
Aggregate redemption price, percentage		35.00%
2021 Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount		$ 1,500,000,000	$ 1,500,000,000
Debt instrument, maturity date		Feb. 1, 2029
Debt instrument, interest rate, stated percentage		3.125%
Interest payable dates		February 1 and August 1
Financing fees		$ 14,500,000
Redemption period		Feb. 1, 2024
Redemption price, percentage		103.125%
2021 Senior Notes [Member] | Redemption, Period One [Member]
Debt Instrument [Line Items]
Redemption period		Feb. 1, 2024
Redemption price, percentage		101.563%
2021 Senior Notes [Member] | Redemption, Period Two [Member]
Debt Instrument [Line Items]
Redemption period		Feb. 1, 2025
Redemption price, percentage		100.781%
2021 Senior Notes [Member] | Redemption, Period Three [Member]
Debt Instrument [Line Items]
Redemption period		Feb. 1, 2026
Redemption price, percentage		100.00%
2017 Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount				$ 750,000,000
Debt instrument, maturity date		Oct. 1, 2022
Debt instrument, interest rate, stated percentage		4.00%
Repayments of unsecured debt	$ 750,000,000
Debt call premium	7,500,000
Write-off of deferred financing fees	$ 4,200,000

Debt (Schedule of Principal Val

Debt (Schedule of Principal Values, Fair Values, and Carrying Values of Debt) (Details) - USD ($)	6 Months Ended
	Jun. 30, 2021	May 14, 2021	Jan. 29, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Principal Balance	$ 12,028,000,000			$ 11,180,000,000
Fair Value	12,127,862,000			11,428,029,000
Carrying Value	11,932,447,000			11,095,796,000
Less: current maturities of long-term debt	(24,000,000)			(24,000,000)
Total long-term debt, net of current maturities	$ 11,908,447,000			11,071,796,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 11, 2023
Principal Balance	$ 85,000,000			380,000,000
Fair Value	85,000,000			380,000,000
Carrying Value	$ 85,000,000			380,000,000
2018 Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 11, 2025
Principal Balance	$ 2,328,000,000			2,340,000,000
Fair Value	2,304,720,000			2,310,750,000
Carrying Value	$ 2,315,022,000			2,325,391,000
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	589,065,000			599,662,000
Carrying Value	$ 572,680,000			572,063,000
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	653,027,000			670,003,000
Carrying Value	$ 616,608,000			616,131,000
2017-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 11, 2022
Principal Balance				760,000,000
Fair Value				774,410,000
Carrying Value				757,165,000
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	658,419,000			671,341,000
Carrying Value	$ 636,920,000			636,045,000
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	1,191,061,000			1,218,613,000
Carrying Value	$ 1,156,267,000			1,155,106,000
2020-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Jan. 9, 2026
Principal Balance	$ 750,000,000			750,000,000
Fair Value	756,480,000			752,910,000
Carrying Value	$ 743,365,000			742,782,000
2020-2C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Jan. 11, 2028
Principal Balance	$ 600,000,000			600,000,000
Fair Value	611,646,000			597,840,000
Carrying Value	$ 594,387,000			594,081,000
2021-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	May 9, 2051
Principal Balance	$ 1,165,000,000	$ 1,165,000,000
Fair Value	1,164,918,000
Carrying Value	$ 1,152,901,000
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	1,119,151,000			1,127,500,000
Carrying Value	$ 1,090,317,000			1,088,924,000
2017 Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 1, 2022
Principal Balance				750,000,000
Fair Value				757,500,000
Carrying Value				746,642,000
2020 Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Feb. 15, 2027
Principal Balance	$ 1,500,000,000			1,500,000,000
Fair Value	1,545,000,000			1,567,500,000
Carrying Value	$ 1,482,803,000			$ 1,481,466,000
2021 Senior Notes [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Feb. 1, 2029
Principal Balance	$ 1,500,000,000		$ 1,500,000,000
Fair Value	1,449,375,000
Carrying Value	$ 1,486,177,000

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Debt Instrument [Line Items]
Cash Interest	$ 90,544	$ 95,687	$ 180,639	$ 191,538
Non-cash Interest	$ 11,812	2,337	$ 23,615	4,743
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	1.60%		1.60%
Cash Interest	$ 1,573	1,661	$ 3,721	4,375
2018 Term Loan [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	1.872%		1.872%
Cash Interest	$ 11,067	20,950	$ 22,064	43,152
Non-cash Interest	$ 11,438	2,030	$ 22,872	4,052
Blended rate			1.872%
Accruing interest rate	1.86%		1.86%
2013 Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	3.722%		3.722%
Cash Interest	$ 5,396	5,396	$ 10,792	10,792
2014 Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	3.869%		3.869%
Cash Interest	$ 6,046	6,046	$ 12,092	12,092
2015-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	3.156%		3.156%
Cash Interest		3,985		7,969
2016-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	2.877%		2.877%
Cash Interest		5,090		10,181
2017-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	3.168%		3.168%
Cash Interest	$ 3,115	6,088	$ 9,201	12,173
2018-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	3.448%		3.448%
Cash Interest	$ 5,570	5,570	$ 11,141	11,141
2019-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	2.836%		2.836%
Cash Interest	$ 8,357	8,357	$ 16,714	16,714
2020-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	1.884%		1.884%
Cash Interest	$ 3,598		$ 7,195
2020-2C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	2.328%		2.328%
Cash Interest	$ 3,540		$ 7,079
2021-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	1.631%		1.631%
Cash Interest	$ 2,550		$ 2,550
2014 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	4.875%		4.875%
Cash Interest				3,352
Non-cash Interest		275		112
2016 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	4.875%		4.875%
Cash Interest	$ 13,406	13,406	$ 26,813	26,813
Non-cash Interest	$ 289	32	$ 575	547
2017 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	4.00%		4.00%
Cash Interest		7,500	$ 2,333	15,000
2020 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	3.875%		3.875%
Cash Interest	$ 14,531	11,571	$ 29,063	17,707
Non-cash Interest	$ 85		$ 168	32
2021 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2021	3.125%		3.125%
Cash Interest	$ 11,719		$ 19,792
Other [Member]
Debt Instrument [Line Items]
Cash Interest	76	$ 67	89	$ 77
Interest Rate Swap [Member] | 2018 Term Loan [Member]
Debt Instrument [Line Items]
Notional amount	$ 1,950,000		$ 1,950,000
Derivative fixed interest rate	1.874%		1.874%
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) - Class A Common Stock [Member] - USD ($) $ in Millions	Aug. 05, 2021	Nov. 02, 2020
New Plan [Member]
Class of Stock [Line Items]
Stock repurchase program, authorized		$ 1,000
New Plan [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Stock repurchase program, remaining authorization	$ 475.1
Prior Plan [Member]
Class of Stock [Line Items]
Stock repurchase program, remaining authorization		$ 124.3

Shareholders' Equity (Summary o

Shareholders' Equity (Summary of Share Repurchases) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Shareholders' Equity [Abstract]
Total number of shares purchased (in millions)	0.7	0.8
Average price paid per share	$ 258.33	$ 242.86
Total price paid (in millions)	$ 168.9	$ 200

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. 05, 2021	Jun. 30, 2021
February 19, 2021 [Member]
Date Declared		Feb. 19, 2021
Payable to Shareholders of Record at the Close of Business on		Mar. 10, 2021
Cash Paid Per Share		$ 0.58
Aggregate Amount Paid		$ 63.4
Date Paid/Date to be Paid		Mar. 26, 2021
April 26, 2021 [Member]
Date Declared		Apr. 26, 2021
Payable to Shareholders of Record at the Close of Business on		May 20, 2021
Cash Paid Per Share		$ 0.58
Aggregate Amount Paid		$ 63.4
Date Paid/Date to be Paid		Jun. 15, 2021
Subsequent Event [Member] | August 2, 2021 [Member]
Date Declared	Aug. 1, 2021
Payable to Shareholders of Record at the Close of Business on	Aug. 26, 2021
Cash to be Paid Per Share	$ 0.58
Date Paid/Date to be Paid	Sep. 23, 2021

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2021USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total intrinsic value for options exercised	$ 44.8
Performance Stock Units (PSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	3 years

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, 2021USD ($)$ / sharesshares
Stock-Based Compensation [Abstract]
Number of Shares, Outstanding at December 31, 2020 | shares	3,202
Number of Shares, Exercised | shares	(262)
Number of Shares, Forfeited/canceled | shares	(12)
Number of Shares, Outstanding at June 30, 2021 | shares	2,928
Number of Shares, Exercisable at June 30, 2021 | shares	2,191
Number of Shares, Unvested at June 30, 2021 | shares	737
Weighted-Average Exercise Price Per Share, Outstanding at December 31, 2020 | $ / shares	$ 143.01
Weighted-Average Exercise Price Per Share, Exercised | $ / shares	124.23
Weighted-Average Exercise Price Per Share, Forfeited/canceled | $ / shares	179.51
Weighted-Average Exercise Price Per Share, Outstanding at June 30, 2021 | $ / shares	144.55
Weighted-Average Exercise Price Per Share, Exercisable at June 30, 2021 | $ / shares	134
Weighted-Average Exercise Price Per Share, Unvested at June 30, 2021 | $ / shares	$ 175.96
Weighted-Average Remaining Contractual Life (in years), Outstanding at June 30, 2021	3 years 3 months 18 days
Weighted-Average Remaining Contractual Life (in years), Exercisable at June 30, 2021	3 years
Weighted-Average Remaining Contractual Life (in years), Unvested at June 30, 2021	4 years 4 months 24 days
Aggregate Intrinsic Value, Outstanding at June 30, 2021 | $	$ 509,774
Aggregate Intrinsic Value, Exercisable at June 30, 2021 | $	404,727
Aggregate Intrinsic Value, Unvested at June 30, 2021 | $	$ 105,047

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, 2021$ / sharesshares
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Outstanding at December 31, 2020 | shares	274
Number of Shares, Granted | shares	106
Number of Shares, Vested | shares	(127)
Number of Shares, Forfeited/canceled | shares	(6)
Number of Shares, Outstanding at June 30, 2021 | shares	247
Weighted-Average Grant Date Fair Value per Share, Outstanding at December 31, 2020 | $ / shares	$ 206.48
Weighted-Average Grant Date Fair Value per Share, Granted | $ / shares	238.09
Weighted-Average Grant Date Fair Value per Share, Vested | $ / shares	187
Weighted-Average Grant Date Fair Value per Share, Forfeited/canceled | $ / shares	230.33
Weighted-Average Grant Date Fair Value per Share, Outstanding at June 30, 2021 | $ / shares	$ 229.57
Performance Stock Units (PSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Outstanding at December 31, 2020 | shares	148
Number of Shares, Granted | shares	154
Number of Shares, Vested | shares
Number of Shares, Forfeited/canceled | shares	(3)
Number of Shares, Outstanding at June 30, 2021 | shares	299
Weighted-Average Grant Date Fair Value per Share, Outstanding at December 31, 2020 | $ / shares	$ 376.48
Weighted-Average Grant Date Fair Value per Share, Granted | $ / shares	236.64
Weighted-Average Grant Date Fair Value per Share, Vested | $ / shares
Weighted-Average Grant Date Fair Value per Share, Forfeited/canceled | $ / shares	361.43
Weighted-Average Grant Date Fair Value per Share, Outstanding at June 30, 2021 | $ / shares	$ 304.49
Performance period	3 years

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) $ in Millions	Dec. 31, 2020USD ($)
Income Taxes [Abstract]
Federal net operating loss carry-forward	$ 651.1

Segment Data (Narrative) (Detai

Segment Data (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)segment	Jun. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Segment Reporting Information [Line Items]
Number of business segments | segment			2
Site leasing	$ 524,095	$ 482,403	$ 1,029,197	$ 974,758
Total assets	9,960,313		$ 9,960,313		$ 9,158,018
Site Leasing Revenue [Member]
Segment Reporting Information [Line Items]
Number of reportable segments | segment			2
Brazil [Member]
Segment Reporting Information [Line Items]
Site leasing			$ 113,800	$ 115,300
Total assets	$ 1,000,000		$ 1,000,000		$ 1,000,000

Segment Data (Schedule of Segme

Segment Data (Schedule of Segment Reporting Information) (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Segment Reporting Information [Line Items]
Revenues		$ 575,528	$ 507,226	$ 1,124,266	$ 1,024,292
Cost of revenues		135,759	111,502	265,533	227,017
Operating profit		439,769	395,724	858,733	797,275
Selling, general, and administrative expenses	[1]	53,945	49,088	105,546	98,704
Acquisition and new business initiatives related adjustments and expenses		6,794	4,634	11,795	8,433
Asset impairment and decommission costs		3,797	6,242	8,700	20,597
Depreciation, amortization and accretion		175,469	178,706	359,350	361,285
Operating income		199,764	157,054	373,342	308,256
Other income (expense) (principally interest expense and other expense)		155	(134,101)	(206,092)	(479,774)
Income (loss) before income taxes		199,919	22,953	167,250	(171,518)
Cash capital expenditures		108,746	57,192	1,186,991	186,907
Assets		9,960,313		9,960,313		$ 9,158,018
Domestic Site Leasing [Member]
Segment Reporting Information [Line Items]
Revenues		418,829	388,018	822,407	774,361
Cost of revenues		63,948	64,093	129,069	127,997
Operating profit		354,881	323,925	693,338	646,364
Selling, general, and administrative expenses		29,201	25,233	57,257	52,555
Acquisition and new business initiatives related adjustments and expenses		4,596	3,004	7,928	5,601
Asset impairment and decommission costs		2,690	5,342	6,561	16,168
Depreciation, amortization and accretion		128,034	134,569	267,025	268,375
Operating income		190,360	155,777	354,567	303,665
Cash capital expenditures		88,051	38,507	1,147,729	139,813
Assets		6,716,342		6,716,342		5,893,636
International Site Leasing [Member]
Segment Reporting Information [Line Items]
Revenues		105,266	94,385	206,790	200,397
Cost of revenues		31,402	27,505	61,649	59,400
Operating profit		73,864	66,880	145,141	140,997
Selling, general, and administrative expenses		9,521	9,035	17,281	16,966
Acquisition and new business initiatives related adjustments and expenses		2,198	1,630	3,867	2,832
Asset impairment and decommission costs		961	900	1,993	4,429
Depreciation, amortization and accretion		44,744	42,011	87,865	88,623
Operating income		16,440	13,304	34,135	28,147
Cash capital expenditures		18,728	17,201	35,675	43,634
Assets		2,912,584		2,912,584		2,955,563
Site Development [Member]
Segment Reporting Information [Line Items]
Revenues		51,433	24,823	95,069	49,534
Cost of revenues		40,409	19,904	74,815	39,620
Operating profit		11,024	4,919	20,254	9,914
Selling, general, and administrative expenses		3,994	4,494	9,783	8,950
Depreciation, amortization and accretion		1,017	597	1,162	1,213
Operating income		6,013	(172)	9,309	(249)
Cash capital expenditures		721	282	1,591	1,064
Assets		84,486		84,486		61,729
Not Identified by Segment [Member]
Segment Reporting Information [Line Items]
Selling, general, and administrative expenses		11,229	10,326	21,225	20,233
Asset impairment and decommission costs		146		146
Depreciation, amortization and accretion		1,674	1,529	3,298	3,074
Operating income		(13,049)	(11,855)	(24,669)	(23,307)
Other income (expense) (principally interest expense and other expense)		155	(134,101)	(206,092)	(479,774)
Cash capital expenditures		1,246	$ 1,202	1,996	$ 2,396
Assets		$ 246,901		$ 246,901		$ 247,090
[1]	Includes non-cash compensation of $ 21,077 and $ 18,131 for the three months ended June 30, 2021 and 2020, respectively, and $ 40,661 and $ 33,684 for the six months ended June 30, 2021 and 2020, respectively.

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) shares in Millions	6 Months Ended
	Jun. 30, 2020shares
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from earnings per share calculation	3.3
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from earnings per share calculation	0.3
Performance Stock Units (PSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from earnings per share calculation	0.1

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Earnings Per Share [Abstract]
Net income (loss) attributable to SBA Communications Corporation	$ 152,669	$ 22,813	$ 140,922	$ (104,247)
Basic weighted-average shares outstanding	109,412	111,738	109,441	111,823
Dilutive impact of stock options, RSUs, and PSUs	1,889	1,896	1,769
Diluted weighted-average shares outstanding	111,301	113,634	111,210	111,823
Net income (loss) per common share attributable to SBA Communications Corporation:
Basic	$ 1.40	$ 0.20	$ 1.29	$ (0.93)
Diluted	$ 1.37	$ 0.20	$ 1.27	$ (0.93)

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interests (Narrative) (Details) - Atlas Tower South Africa [Member] - USD ($) $ in Millions	Mar. 25, 2021	Jun. 30, 2021
Noncontrolling Interest [Line Items]
Noncontrolling interest ownership percentage		6.00%
Acquired additional interest value	$ 13.7

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) - USD ($)	Aug. 04, 2020	Jun. 30, 2021	Dec. 31, 2020
Interest Rate Swap [Member]
Derivative [Line Items]
Accumulated derivative losses		$ 92,500,000	$ 140,900,000
Interest Rate Swap [Member] | Minimum [Member]
Derivative [Line Items]
Remaining maturity year		2023
Interest Rate Swap [Member] | Maximum [Member]
Derivative [Line Items]
Remaining maturity year		2025
2018 Term Loan [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Notional amount		$ 1,950,000,000
Derivative fixed interest rate		1.874%
Derivative asset, fair value		$ 38,000,000	$ 12,100,000
Cash Flow Hedges [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Cash transfer in connection with termination of swaps	$ 0
Cash Flow Hedges [Member] | 2018 Term Loan [Member]
Derivative [Line Items]
Notional amount		1,950,000,000
Payment to terminate		$ 176,200,000
London Interbank Offered Rate (LIBOR) [Member] | 2018 Term Loan [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Derivative basis spread on variable interest rate		1.75%

Derivatives and Hedging Activ_4

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, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
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	$ 11,222	4,642	$ 22,443	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	$ (5,657)	(17,326)	$ 25,909	(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)