SBA Communications (SBAC) 10-Q 29 Apr 22 2022 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 19, 2022
Document And Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Current Fiscal Year End Date	--12-31
Document Period End Date	Mar. 31, 2022
Document Fiscal Year Focus	2022
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		107,829,051
Amendment Flag	false
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001034054

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 263,569	$ 367,278
Restricted cash	69,781	65,561
Accounts receivable, net	121,583	101,950
Costs and estimated earnings in excess of billings on uncompleted contracts	48,028	48,844
Prepaid expenses and other current assets	36,462	30,813
Total current assets	539,423	614,446
Property and equipment, net	2,674,679	2,575,487
Intangible assets, net	2,909,789	2,803,247
Operating lease right-of-use assets, net	2,362,287	2,268,470
Acquired and other right-of-use assets, net	1,017,508	964,405
Other assets	638,414	575,644
Total assets	10,142,100	9,801,699
Current Liabilities:
Accounts payable	40,583	34,066
Accrued expenses	80,628	68,070
Current maturities of long-term debt	662,264	24,000
Deferred revenue	195,553	184,380
Accrued interest	23,710	49,096
Current lease liabilities	254,448	238,497
Other current liabilities	21,367	18,222
Total current liabilities	1,278,553	616,331
Long-term liabilities:
Long-term debt, net	11,969,068	12,278,694
Long-term lease liabilities	2,050,790	1,981,353
Other long-term liabilities	232,799	191,475
Total long-term liabilities	14,252,657	14,451,522
Redeemable noncontrolling interests	36,037	17,250
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, 107,806 shares and 108,956 shares issued and outstanding at March 31, 2022 and December 31, 2021, respectively	1,078	1,089
Additional paid-in capital	2,688,835	2,681,347
Accumulated deficit	(7,523,696)	(7,203,531)
Accumulated other comprehensive loss, net	(591,364)	(762,309)
Total shareholders' deficit	(5,425,147)	(5,283,404)
Total liabilities, redeemable noncontrolling interests, and shareholders' deficit	$ 10,142,100	$ 9,801,699

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
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	107,806,000	108,956,000
Common stock - Class A, shares outstanding	107,806,000	108,956,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Revenues:
Site leasing		$ 559,432	$ 505,103
Site development		60,338	43,636
Total revenues		619,770	548,739
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):
Cost of site leasing		107,155	95,368
Cost of site development		45,773	34,406
Selling, general, and administrative expenses	[1]	62,124	51,601
Acquisition and new business initiatives related adjustments and expenses		5,104	5,001
Asset impairment and decommission costs		8,512	4,903
Depreciation, accretion, and amortization		174,323	183,881
Total operating expenses		402,991	375,160
Operating income		216,779	173,579
Other income (expense):
Interest income		2,502	632
Interest expense		(82,252)	(90,095)
Non-cash interest expense		(11,526)	(11,804)
Amortization of deferred financing fees		(4,881)	(4,891)
Loss from extinguishment of debt, net			(11,652)
Other income (expense), net		108,161	(88,436)
Total other income (expense), net		12,004	(206,246)
Income (loss) before income taxes		228,783	(32,667)
(Provision) benefit for income taxes		(40,477)	20,922
Net income (loss)		188,306	(11,745)
Net loss attributable to noncontrolling interests		317
Net income (loss) attributable to SBA Communications Corporation		$ 188,623	$ (11,745)
Net income (loss) per common share attributable to SBA Communications Corporation:
Basic		$ 1.75	$ (0.11)
Diluted		$ 1.72	$ (0.11)
Weighted average number of common shares
Basic		108,086	109,469
Diluted		109,544	109,469
[1]	Includes non-cash compensation expense of $ 24,116 and $ 19,584 for the three months ended March 31, 2022 and 2021, respectively.

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Non-cash compensation expense	$ 24,747	$ 20,422
Selling, General And Administrative [Member]
Non-cash compensation expense	$ 24,116	$ 19,584

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Consolidated Statements of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ 188,306	$ (11,745)
Adjustments related to interest rate swaps	85,322	42,787
Foreign currency translation adjustments	85,506	(43,634)
Comprehensive income (loss)	359,134	(12,592)
Comprehensive loss attributable to noncontrolling interests	434
Comprehensive income (loss) attributable to SBA Communications Corporation	$ 359,568	$ (12,592)

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, 2020	$ 1,098	$ 2,586,130	$ (6,604,028)	$ (807,582)	$ (4,824,382)
BALANCE, Shares at Dec. 31, 2020	109,819
Net income (loss) attributable to SBA Communications Corporation			(11,745)		(11,745)
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements	$ 2	2,013			2,015
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements, Shares	166
Non-cash stock compensation		20,812			20,812
Adjustments related to interest rate swaps				42,787	42,787
Repurchase and retirement of common stock	$ (7)		(168,916)		(168,923)
Repurchase and retirement of common stock, Shares	(654)
Foreign currency translation adjustments attributable to SBA Communications Corporation				(43,634)	(43,634)
Dividends and dividend equivalents on common stock			(63,624)		(63,624)
Adjustment to redemption amount related to noncontrolling interests		1,517			1,517
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
BALANCE at Dec. 31, 2021	$ 1,089	2,681,347	(7,203,531)	(762,309)	$ (5,283,404)
BALANCE, Shares at Dec. 31, 2021	108,956				108,956
Net income (loss) attributable to SBA Communications Corporation			188,623		$ 188,623
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements	$ 2	1,566			1,568
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements, Shares	150
Non-cash stock compensation		25,143			25,143
Adjustments related to interest rate swaps				85,322	85,322
Repurchase and retirement of common stock	$ (13)		(431,654)		(431,667)
Repurchase and retirement of common stock, Shares	(1,300)
Foreign currency translation adjustments attributable to SBA Communications Corporation				85,623	85,623
Dividends and dividend equivalents on common stock			(77,134)		(77,134)
Adjustment to redemption amount related to noncontrolling interests		(19,221)			(19,221)
BALANCE at Mar. 31, 2022	$ 1,078	$ 2,688,835	$ (7,523,696)	$ (591,364)	$ (5,425,147)
BALANCE, Shares at Mar. 31, 2022	107,806				107,806

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 188,306	$ (11,745)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation, accretion, and amortization	174,323	183,881
(Gain) loss on remeasurement of U.S. denominated intercompany loans	(109,644)	86,251
Non-cash compensation expense	24,747	20,422
Non-cash asset impairment and decommission costs	8,366	4,791
Loss from extinguishment of debt, net		10,652
Deferred income tax provision (benefit)	34,262	(26,837)
Other non-cash items reflected in the Statements of Operations	16,896	17,413
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts, net	(9,812)	(4,523)
Prepaid expenses and other assets	(2,201)	3,517
Operating lease right-of-use assets, net	33,682	29,865
Accounts payable and accrued expenses	(7,002)	(4,667)
Accrued interest	(25,384)	(27,347)
Long-term lease liabilities	(31,038)	(26,393)
Other liabilities	(3,019)	30,218
Net cash provided by operating activities	292,482	285,498
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions	(215,181)	(1,052,676)
Capital expenditures	(38,008)	(24,536)
Purchase of investments	(30,393)	(755,013)
Proceeds from sale of investments	30,214	755,000
Other investing activities	(2,513)	641
Net cash used in investing activities	(255,881)	(1,076,584)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under Revolving Credit Facility	330,000	710,000
Repayments under Revolving Credit Facility		(500,000)
Proceeds from issuance of Senior Notes, net of fees		1,485,670
Repayment of Senior Notes		(757,500)
Repurchase and retirement of common stock	(431,667)	(168,923)
Payment of dividends on common stock	(76,873)	(63,412)
Proceeds from employee stock purchase/stock option plans	10,836	10,838
Payments related to taxes on stock options and restricted stock units	(9,228)	(8,823)
Other financing activities	25,182	(6,507)
Net cash (used in) provided by financing activities	(151,750)	701,343
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	15,961	(10,880)
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	(99,188)	(100,623)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:
Beginning of period	435,626	342,808
End of period	336,438	242,185
Cash paid during the period for:
Interest	107,594	118,430
Income taxes	5,696	6,387
SUPPLEMENTAL CASH FLOW INFORMATION OF NON-CASH ACTIVITIES:
Right-of-use assets obtained in exchange for new operating lease liabilities	41,038	11,890
Operating lease modifications and reassessments	12,445	6,181
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 674	$ 1,033

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2022
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, 2021 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 $ 72.9 million gain and a $ 57.0 million loss, net of taxes, on the remeasurement of intercompany loans for the three months ended March 31, 2022 and 2021, respectively, due to changes in foreign exchange rates. During the three months ended March 31, 2022, the Company repaid $ 36.5 million of the intercompany loans. As of March 31, 2022 and December 31, 2021, the aggregate amount outstanding under the intercompany loan agreements subject to remeasurement with the Company’s foreign subsidiaries was $ 870.3 million and $ 872.9 million, respectively . Subsequent to March 31, 2022, the Company repaid $ 64.9 million of the intercompany loan.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2022
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 ended March 31, 2022 2021 Asset impairment (1) $ 7,790 $ 3,156 Write-off of carrying value of decommissioned towers 590 1,327 Other (including third party decommission costs) 132 420 Total asset impairment and decommission costs $ 8,512 $ 4,903 (1) Represents impairment charges resulting from the Company’s regular analysis of whether the anticipated future discounted cash flows from certain towers are sufficient to recover the carrying value of the investment in those towers. The Company’s long-term investments were $ 45.6 million and $ 47.9 million as of March 31, 2022 and December 31, 2021, 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 March 31, 2022 and December 31, 2021, the Company had $ 0.8 million of short-term investments. For the three months ended March 31, 2022, the Company purchased and sold $ 30.2 million of short-term investments. For the three months ended March 31, 2021, the Company purchased and sold $ 755.0 million 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	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 December 31, 2021 Included on Balance Sheet (in thousands) Cash and cash equivalents $ 263,569 $ 367,278 Cash and cash equivalents Securitization escrow accounts 68,983 64,764 Restricted cash - current asset Payment and performance bonds 798 797 Restricted cash - current asset Surety bonds and workers compensation 3,088 2,787 Other assets - noncurrent Total cash, cash equivalents, and restricted cash $ 336,438 $ 435,626 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 March 31, 2022 and December 31, 2021, the Company had $ 42.4 million and $ 42.3 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 March 31, 2022 and December 31, 2021, the Company had pledged $ 2.3 million as collateral related to its workers’ compensation policy.

Costs and Estimated Earnings on

Costs and Estimated Earnings on Uncompleted Contracts	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 December 31, 2021 (in thousands) Costs incurred on uncompleted contracts $ 81,293 $ 75,967 Estimated earnings 31,476 28,851 Billings to date ( 72,420 ) ( 61,628 ) $ 40,349 $ 43,190 These amounts are included in the Consolidated Balance Sheets under the following captions: As of As of March 31, 2022 December 31, 2021 (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 48,028 $ 48,844 Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities) ( 7,679 ) ( 5,654 ) $ 40,349 $ 43,190 At March 31, 2022 and December 31, 2021, the eight largest customers comprised 98.2 % and 98.8 %, 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	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 December 31, 2021 (in thousands) Prepaid real estate taxes $ 3,517 $ 3,331 Prepaid taxes 10,093 11,096 Other current assets 22,852 16,386 Total prepaid expenses and other current assets $ 36,462 $ 30,813 The Company’s other assets are comprised of the following: As of As of March 31, 2022 December 31, 2021 (in thousands) Straight-line rent receivable $ 362,370 $ 348,519 Interest rate swap asset (1) 134,425 60,324 Loans receivable 40,063 37,376 Deferred lease costs, net 6,379 6,345 Deferred tax asset - long term 20,296 51,918 Long-term investments 45,617 47,889 Other 29,264 23,273 Total other assets $ 638,414 $ 575,644 (1) Refer to Note 17 for more information on the Company’s interest rate swaps.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2022
Acquisitions [Abstract]
Acquisitions	6. ACQUISITIONS The following table summarizes the Company’s acquisition activity: For the three months ended March 31, 2022 2021 Acquisitions of towers and related intangible assets (1) $ 207,863 $ 101,630 Acquisition of right-of-use assets (2) — 945,915 Land buyouts and other assets (3) 7,318 5,131 Total cash acquisition capital expenditures $ 215,181 $ 1,052,676 (1) During the three months ended March 31, 2022, the Company closed on 1,445 sites under the previously announced deal with Airtel Tanzania for $ 176.1 million. Legal title was fully transferred at closing for 963 of the towers. The remaining 482 towers are pending post-closing site level documentation and due diligence and were initially accounted for as acquired and other right-of-use assets, net on the consolidated balance sheet until transfer of title for these towers is completed, which the Company anticipates to be in tranches through the end of the second quarter of 2023. Upon legal transfer, these assets will be reclassified to tower related assets. During this period of time, the Company has all the economic rights and obligations related to these towers. (2) During the three months ended March 31, 2021, the Company acquired the exclusive right to lease and operate 697 utility transmission structures, which included existing wireless tenant licenses from PG&E for $ 954.0 million. The difference between the purchase price 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 $ 3.8 million and $ 2.8 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended March 31, 2022 and 2021, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets. During the three months ended March 31, 2022, the Company acquired 1,807 towers and related assets and liabilities consisting of $ 74.9 million of property and equipment, net $ 83.2 million of intangible assets, net, $ 36.3 million of operating lease right-of-use assets, net, $ 58.3 million of acquired and other right-of-use assets, net, and $ 44.9 million of other net liabilities assumed. All acquisitions in the three months ended March 31, 2022 were accounted for as asset acquisitions. Subsequent to March 31, 2022, the Company purchased, or is under contract to purchase, 358 communication sites and one data center for an aggregate consideration of $ 177.1 million in cash. The maximum potential obligation related to contingent consideration for acquisitions were $ 11.4 million and $ 11.6 million as of March 31, 2022 and December 31, 2021, respectively. No such amounts are recorded on the Company’s Consolidated Balance Sheet.

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 December 31, 2021 (in thousands) Towers and related components (1) $ 5,492,277 $ 5,323,803 Construction-in-process (2) 54,487 47,565 Furniture, equipment, and vehicles 61,981 59,939 Land, buildings, and improvements 856,639 848,051 Total property and equipment 6,465,384 6,279,358 Less: accumulated depreciation ( 3,790,705 ) ( 3,703,871 ) Property and equipment, net $ 2,674,679 $ 2,575,487 (1) Includes amounts related to our data centers. (2) Construction-in-process represents costs incurred related to towers and other assets that are under development and will be used in the Company’s site leasing operations. Depreciation expense was $ 68.1 million and $ 71.5 million for the three months ended March 31, 2022 and 2021, respectively. At March 31, 2022 and December 31, 2021, unpaid capital expenditures that are included in accounts payable and accrued expenses were $ 9.2 million and $ 7.3 million, respectively.

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 As of December 31, 2021 Gross carrying Accumulated Net book Gross carrying Accumulated Net book amount amortization value amount amortization value (in thousands) Current contract intangibles $ 5,113,444 $ ( 2,881,988 ) $ 2,231,456 $ 4,890,427 $ ( 2,749,594 ) $ 2,140,833 Network location intangibles 1,836,202 ( 1,157,869 ) 678,333 1,783,640 ( 1,121,226 ) 662,414 Intangible assets, net $ 6,949,646 $ ( 4,039,857 ) $ 2,909,789 $ 6,674,067 $ ( 3,870,820 ) $ 2,803,247 All intangible assets noted above are included in the Company’s site leasing segment. Amortization expense relating to the intangible assets above was $ 100.6 million and $ 109.8 million for the three months ended March 31, 2022 and 2021, respectively.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2022
Accrued Expenses [Abstract]
Accrued Expenses	9. ACCRUED EXPENSES The Company’s accrued expenses are comprised of the following: As of As of March 31, 2022 December 31, 2021 (in thousands) Salaries and benefits $ 14,421 $ 24,962 Real estate and property taxes 8,843 8,336 Unpaid capital expenditures 9,176 7,295 Holdbacks 18,234 957 Other 29,954 26,520 Total accrued expenses $ 80,628 $ 68,070

Debt

Debt	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 December 31, 2021 Maturity Date Principal Balance Fair Value Carrying Value Principal Balance Fair Value Carrying Value Revolving Credit Facility Jul. 7, 2026 $ 680,000 $ 680,000 $ 680,000 $ 350,000 $ 350,000 $ 350,000 2018 Term Loan Apr. 11, 2025 2,310,000 2,275,350 2,299,522 2,316,000 2,289,945 2,304,697 2014-2C Tower Securities (1) Oct. 8, 2024 620,000 622,065 617,343 620,000 641,793 617,095 2018-1C Tower Securities (1) Mar. 9, 2023 640,000 640,960 638,264 640,000 650,163 637,812 2019-1C Tower Securities (1) Jan. 12, 2025 1,165,000 1,137,529 1,158,043 1,165,000 1,174,728 1,157,446 2020-1C Tower Securities (1) Jan. 9, 2026 750,000 715,215 744,406 750,000 746,498 744,052 2020-2C Tower Securities (1) Jan. 11, 2028 600,000 575,178 594,975 600,000 605,268 594,774 2021-1C Tower Securities (1) Nov. 9, 2026 1,165,000 1,087,283 1,154,213 1,165,000 1,144,846 1,153,700 2021-2C Tower Securities (1) Apr. 9, 2027 895,000 835,053 886,383 895,000 883,213 886,116 2021-3C Tower Securities (1) Oct. 9, 2031 895,000 841,944 886,045 895,000 902,446 885,976 2020 Senior Notes Feb. 15, 2027 1,500,000 1,462,320 1,484,876 1,500,000 1,550,790 1,484,178 2021 Senior Notes Feb. 1, 2029 1,500,000 1,358,955 1,487,262 1,500,000 1,446,975 1,486,848 Total debt $ 12,720,000 $ 12,231,852 $ 12,631,332 $ 12,396,000 $ 12,386,665 $ 12,302,694 Less: current maturities of long-term debt ( 662,264 ) ( 24,000 ) Total long-term debt, net of current maturities $ 11,969,068 $ 12,278,694 (1) The maturity date represents the anticipated repayment date for each issuance. The table below reflects cash and non-cash interest expense amounts recognized by debt instrument for the periods presented: Interest For the three months ended March 31, Rates as of 2022 2021 March 31, Cash Non-cash Cash Non-cash 2022 Interest Interest Interest Interest (in thousands) Revolving Credit Facility 1.619 % $ 2,279 $ — $ 2,148 $ — 2018 Term Loan (1) 1.926 % 10,910 11,438 10,997 11,434 2013-2C Tower Securities 3.722 % — — 5,396 — 2014-2C Tower Securities 3.869 % 6,046 — 6,046 — 2017-1C Tower Securities 3.168 % — — 6,085 — 2018-1C Tower Securities 3.448 % 5,570 — 5,570 — 2019-1C Tower Securities 2.836 % 8,357 — 8,357 — 2020-1C Tower Securities 1.884 % 3,598 — 3,598 — 2020-2C Tower Securities 2.328 % 3,540 — 3,540 — 2021-1C Tower Securities 1.631 % 4,846 — — — 2021-2C Tower Securities 1.840 % 4,196 — — — 2021-3C Tower Securities 2.593 % 5,873 — — — 2016 Senior Notes 4.875 % — — 13,406 286 2017 Senior Notes 4.000 % — — 2,333 — 2020 Senior Notes 3.875 % 14,531 88 14,531 84 2021 Senior Notes 3.125 % 11,719 — 8,073 — Other 787 — 15 — Total $ 82,252 $ 11,526 $ 90,095 $ 11,804 (1) The 2018 Term Loan has a blended rate of 1.926 %, 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 2.210 % as of March 31, 2022. Refer to Note 17 for more information on the Company’s interest rate swap. Revolving Credit Facility under the Senior Credit Agreement During the three months ended March 31, 2022, the Company borrowed $ 330.0 million of the outstanding balance under the Revolving Credit Facility. As of March 31, 2022, there was $ 680.0 million outstanding under the Revolving Credit Facility accruing interest at 1.619 %. 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 0.15 % per annum on the amount of the unused commitment. Subsequent to March 31, 2022, the Company received a 0.05 % reduction in the applicable spread and a 0.01 % reduction in the commitment fee as a result of meeting certain sustainability-linked targets as of December 31, 2021. As of March 31, 2022, SBA Senior Finance II was in compliance with the financial covenants contained in the Senior Credit Agreement. Subsequent to March 31, 2022, the Company repaid an additional $ 110.0 million under the Revolving Credit Facility, and as of the date of this filing, $ 570.0 million was outstanding. Term Loan under the Senior Credit Agreement During the three months ended March 31, 2022, the Company repaid an aggregate of $ 6.0 million of principal on the 2018 Term Loan. As of March 31, 2022, the 2018 Term Loan had a principal balance of $ 2.3 billion. Secured Tower Revenue Securities As of March 31, 2022, 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 .

Shareholders' Equity

Shareholders' Equity	3 Months Ended
	Mar. 31, 2022
Shareholders' Equity [Abstract]
Shareholders' Equity	11. SHAREHOLDERS’ EQUITY Common Stock Equivalents The Company has outstanding stock options, time-based restricted stock units (“RSUs”), and performance-based restricted stock units (“PSUs”) which were considered in the Company’s diluted earnings per share calculation (see Note 15). Stock Repurchases The Company’s Board of Directors authorizes the Company to purchase, from time to time, outstanding Class A common stock through open market repurchases in compliance with Rule 10b-18 under the Exchange Act, and/or in privately negotiated transactions at management’s discretion based on market and business conditions, applicable legal requirements, and other factors. Once authorized, the repurchase plan has no time deadline and will continue until otherwise modified or terminated by the Company’s Board of Directors at any time in its sole discretion. Shares repurchased are retired. On October 28, 2021, the Company’s Board of Directors authorized a new $ 1.0 billion stock repurchase plan, replacing the prior plan authorized on November 2, 2020, which had a remaining authorization of $ 125.1 million. As of the date of this filing, the Company had $ 504.7 million of authorization remaining under the new plan. The following is a summary of the Company’s share repurchases: For the three months ended March 31, 2022 2021 Total number of shares purchased (in millions) (1) 1.3 0.7 Average price paid per share (1) $ 332.00 $ 258.33 Total price paid (in millions) (1) $ 431.6 $ 168.9 (1) Amounts reflected are based on the trade date and could differ from the Consolidated Statements of Cash Flows which reflects share repurchases based on the settlement date . Dividends For the three months ended March 31, 2022, 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 27, 2022 March 10, 2022 $ 0.71 $ 76.9 million March 25, 2022 Dividends paid in 2022 were ordinary taxable dividends. Subsequent to March 31, 2022, 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 April 24, 2022 May 19, 2022 $ 0.71 June 14, 2022

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2022
Stock-Based Compensation [Abstract]
Stock-Based Compensation	12. STOCK-BASED COMPENSATION Stock Options The Company records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model with the assumptions included in the table below. The Company uses a combination of historical data and historical volatility to establish the expected volatility, as well as to estimate the expected option life. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. The following assumptions were used to estimate the fair value of options granted using the Black-Scholes option-pricing model: For the three months ended March 31, 2022 Risk free interest rate 2.53 % Dividend yield 0.9 % Expected volatility 27 % Expected lives 4.3 years There were no options granted during the three months ended March 31, 2021. The following table summarizes the Company’s activities with respect to its stock option plans for the three months ended March 31, 2022 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, 2021 1,899 $ 157.76 Granted 10 $ 328.99 Exercised ( 59 ) $ 143.16 Forfeited/canceled ( 1 ) $ 174.28 Outstanding at March 31, 2022 1,849 $ 159.13 3.1 $ 341,859 Exercisable at March 31, 2022 1,572 $ 153.68 3.0 $ 299,265 Unvested at March 31, 2022 277 $ 190.14 4.2 $ 42,594 The weighted-average per share fair value of options granted during the three months ended March 31, 2022 was $ 82.28 . The total intrinsic value for options exercised during the three months ended March 31, 2022 was $ 11.0 million. Restricted Stock Units and Performance-Based Restricted Stock Units The following table summarizes the Company’s RSU and PSU activity for the three months ended March 31, 2022: RSUs PSUs (1) 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, 2021 243 $ 230.20 298 $ 304.46 Granted 93 $ 330.78 139 $ 391.19 Vested ( 110 ) $ 217.29 — $ — Forfeited/canceled ( 2 ) $ 254.31 ( 1 ) $ 290.89 Outstanding at March 31, 2022 224 $ 278.16 436 $ 332.18 (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	3 Months Ended
	Mar. 31, 2022
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 more likely than not that its deferred tax assets will not 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 $ 654.7 million as of December 31, 2021, 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	3 Months Ended
	Mar. 31, 2022
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 (4) Development Other Total For the three months ended March 31, 2022 (in thousands) Revenues $ 432,986 $ 126,446 $ 60,338 $ — $ 619,770 Cost of revenues (1) 65,804 41,351 45,773 — 152,928 Operating profit 367,182 85,095 14,565 — 466,842 Selling, general, and administrative expenses 23,373 15,494 5,522 17,735 62,124 Acquisition and new business initiatives related adjustments and expenses 3,599 1,505 — — 5,104 Asset impairment and decommission costs 5,483 3,029 — — 8,512 Depreciation, amortization and accretion 123,133 48,881 588 1,721 174,323 Operating income (loss) 211,594 16,186 8,455 ( 19,456 ) 216,779 Other expense (principally interest expense and other expense) 12,004 12,004 Income before income taxes 228,783 Cash capital expenditures (2) 39,545 211,771 966 1,581 253,863 For the three months ended March 31, 2021 Revenues $ 403,579 $ 101,524 $ 43,636 $ — $ 548,739 Cost of revenues (1) 65,120 30,248 34,406 — 129,774 Operating profit 338,459 71,276 9,230 — 418,965 Selling, general, and administrative expenses 28,056 7,760 5,789 9,996 51,601 Acquisition and new business initiatives related adjustments and expenses 3,332 1,669 — — 5,001 Asset impairment and decommission costs 3,871 1,032 — — 4,903 Depreciation, amortization and accretion 137,054 43,121 2,082 1,624 183,881 Operating income (loss) 166,146 17,694 1,359 ( 11,620 ) 173,579 Other expense (principally interest expense and other expense) ( 206,246 ) ( 206,246 ) Loss before income taxes ( 32,667 ) Cash capital expenditures (2) 1,059,678 16,947 870 750 1,078,245 Domestic Site Int'l Site Site Leasing Leasing (4) Development Other (3) Total Assets (in thousands) As of March 31, 2022 $ 6,522,827 $ 3,222,276 $ 100,594 $ 296,403 $ 10,142,100 As of December 31, 2021 $ 6,628,156 $ 2,870,503 $ 87,410 $ 215,630 $ 9,801,699 (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. (4) For the three months ended March 31, 2022 and 2021, site leasing revenue in Brazil was $ 65.2 million and $ 55.4 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 and $ 0.9 billion as of March 31, 2022 and December 31, 2021, respectively.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings Per Share	15. EARNINGS PER SHARE Basic earnings per share was computed by dividing net income (loss) attributable to SBA Communications Corporation by the weighted-average number of shares of Common Stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income (loss) attributable to SBA Communications Corporation by the weighted-average number of shares of Common Stock outstanding adjusted for any dilutive Common Stock equivalents, including unvested RSUs, PSUs, and shares issuable upon exercise of stock options as determined under the “Treasury Stock” method. The following table sets forth basic and diluted net income (loss) per common share attributable to common shareholders for the three months ended March 31, 2022 and 2021 (in thousands, except per share data): For the three months ended March 31, 2022 2021 Numerator: Net income (loss) attributable to SBA Communications Corporation $ 188,623 $ ( 11,745 ) Denominator: Basic weighted-average shares outstanding 108,086 109,469 Dilutive impact of stock options, RSUs, and PSUs 1,458 — Diluted weighted-average shares outstanding 109,544 109,469 Net income (loss) per common share attributable to SBA Communications Corporation: Basic $ 1.75 $ ( 0.11 ) Diluted $ 1.72 $ ( 0.11 ) For the three months ended March 31, 2022, 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 three months ended March 31, 2021, all potential common stock equivalents, including 3.1 million shares underlying stock options outstanding, 0.3 million shares underlying RSUs outstanding, and 0.3 million shares underlying PSUs outstanding, were excluded as the effect would be anti-dilutive.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests	3 Months Ended
	Mar. 31, 2022
Redeemable Noncontrolling Interests [Abstract]
Redeemable Noncontrolling Interests	16. REDEEMABLE NONCONTROLLING INTERESTS In June 2021, the Company entered into a joint venture agreement with a non-affiliated partner for the purpose of acquiring towers in Tanzania from Airtel Tanzania PLC which closed on January 4, 2022 (see Note 6). Effective June 2021, the Company consolidated the results of the joint venture into its financial statements. The agreement contains both a put option exercisable by the noncontrolling interest holder and a call option exercisable by the Company for the remaining minority interest based on a formulaic approach. As the put option is outside of the Company’s control, the estimated redemption value of the minority interest is presented as a redeemable noncontrolling interest outside of permanent equity on the Consolidated Balance Sheets. As of March 31, 2022, the redemption amount of the noncontrolling interest was $ 36.0 million. 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 greater 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 redemption value as of the balance sheet date. Adjustments to the carrying amount of redeemable noncontrolling interest are charged against retained earnings (or additional paid-in capital if there are no retained earnings). The components of redeemable noncontrolling interests as of March 31, 2022 are as follows (in thousands): March 31, December 31, 2022 2021 Beginning balance $ 17,250 $ 15,194 Net loss attributable to noncontrolling interests ( 317 ) — Foreign currency translation adjustments ( 117 ) — Purchase of noncontrolling interests — ( 18,000 ) Contribution from joint venture partner — 17,250 Adjustment to redemption amount 19,221 2,806 Ending balance $ 36,037 $ 17,250

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2022
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 an 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 March 31, 2022, the hedge remains highly effective; therefore, subsequent changes in the fair value are recorded in Accumulated other comprehensive loss, net. As of March 31, 2022 and December 31, 2021, the interest rate swap had a fair value of $ 134.4 million and $ 60.3 million, respectively, and was 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 $ 37.5 million gain and a $ 47.8 million loss as of March 31, 2022 and December 31, 2021, 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 months ended March 31, 2022 and 2021. For the three months ended March 31, 2022 2021 Cash Flow Hedge - Interest Rate Swap Agreement (in thousands) Change in fair value recorded in Accumulated other comprehensive loss, net $ 74,101 $ 31,566 Derivatives Not Designated as Hedges - Interest Rate Swap Agreements Amount reclassified from Accumulated other comprehensive loss, net into Non-cash interest expense $ 11,221 $ 11,221

Basis of Presentation (Policy)

Basis of Presentation (Policy)	3 Months Ended
	Mar. 31, 2022
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, 2021 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 $ 72.9 million gain and a $ 57.0 million loss, net of taxes, on the remeasurement of intercompany loans for the three months ended March 31, 2022 and 2021, respectively, due to changes in foreign exchange rates. During the three months ended March 31, 2022, the Company repaid $ 36.5 million of the intercompany loans. As of March 31, 2022 and December 31, 2021, the aggregate amount outstanding under the intercompany loan agreements subject to remeasurement with the Company’s foreign subsidiaries was $ 870.3 million and $ 872.9 million, respectively . Subsequent to March 31, 2022, the Company repaid $ 64.9 million of the intercompany loan.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2022
Fair Value Measurements [Abstract]
Summary of Asset Impairment and Decommission Costs	For the three months ended March 31, 2022 2021 Asset impairment (1) $ 7,790 $ 3,156 Write-off of carrying value of decommissioned towers 590 1,327 Other (including third party decommission costs) 132 420 Total asset impairment and decommission costs $ 8,512 $ 4,903 (1) Represents impairment charges resulting from the Company’s regular analysis of whether the anticipated future discounted cash flows from certain towers are sufficient to recover the carrying value of the investment in those towers.

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2022
Cash, Cash Equivalents, and Restricted Cash [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	As of As of March 31, 2022 December 31, 2021 Included on Balance Sheet (in thousands) Cash and cash equivalents $ 263,569 $ 367,278 Cash and cash equivalents Securitization escrow accounts 68,983 64,764 Restricted cash - current asset Payment and performance bonds 798 797 Restricted cash - current asset Surety bonds and workers compensation 3,088 2,787 Other assets - noncurrent Total cash, cash equivalents, and restricted cash $ 336,438 $ 435,626

Costs and Estimated Earnings _2

Costs and Estimated Earnings on Uncompleted Contracts (Tables)	3 Months Ended
	Mar. 31, 2022
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Summary of Costs and Estimated Earnings on Uncompleted Contracts	As of As of March 31, 2022 December 31, 2021 (in thousands) Costs incurred on uncompleted contracts $ 81,293 $ 75,967 Estimated earnings 31,476 28,851 Billings to date ( 72,420 ) ( 61,628 ) $ 40,349 $ 43,190
Costs and Estimated Earnings on Uncompleted Contracts Accompanying Consolidated Balance Sheets	As of As of March 31, 2022 December 31, 2021 (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 48,028 $ 48,844 Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities) ( 7,679 ) ( 5,654 ) $ 40,349 $ 43,190

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets and Other Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Schedule of Prepaid Expense and Other Current Assets	As of As of March 31, 2022 December 31, 2021 (in thousands) Prepaid real estate taxes $ 3,517 $ 3,331 Prepaid taxes 10,093 11,096 Other current assets 22,852 16,386 Total prepaid expenses and other current assets $ 36,462 $ 30,813
Schedule of Other Assets	As of As of March 31, 2022 December 31, 2021 (in thousands) Straight-line rent receivable $ 362,370 $ 348,519 Interest rate swap asset (1) 134,425 60,324 Loans receivable 40,063 37,376 Deferred lease costs, net 6,379 6,345 Deferred tax asset - long term 20,296 51,918 Long-term investments 45,617 47,889 Other 29,264 23,273 Total other assets $ 638,414 $ 575,644 (1) Refer to Note 17 for more information on the Company’s interest rate swaps.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2022
Acquisitions [Abstract]
Schedule of Acquisition Capital Expenditures	For the three months ended March 31, 2022 2021 Acquisitions of towers and related intangible assets (1) $ 207,863 $ 101,630 Acquisition of right-of-use assets (2) — 945,915 Land buyouts and other assets (3) 7,318 5,131 Total cash acquisition capital expenditures $ 215,181 $ 1,052,676 (1) During the three months ended March 31, 2022, the Company closed on 1,445 sites under the previously announced deal with Airtel Tanzania for $ 176.1 million. Legal title was fully transferred at closing for 963 of the towers. The remaining 482 towers are pending post-closing site level documentation and due diligence and were initially accounted for as acquired and other right-of-use assets, net on the consolidated balance sheet until transfer of title for these towers is completed, which the Company anticipates to be in tranches through the end of the second quarter of 2023. Upon legal transfer, these assets will be reclassified to tower related assets. During this period of time, the Company has all the economic rights and obligations related to these towers. (2) During the three months ended March 31, 2021, the Company acquired the exclusive right to lease and operate 697 utility transmission structures, which included existing wireless tenant licenses from PG&E for $ 954.0 million. The difference between the purchase price 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 $ 3.8 million and $ 2.8 million for ground lease extensions and term easements on land underlying the Company’s towers during the three months ended March 31, 2022 and 2021, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheets.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Property and Equipment, Net [Abstract]
Property and Equipment, Net (Including Assets Held Under Capital Leases)	As of As of March 31, 2022 December 31, 2021 (in thousands) Towers and related components (1) $ 5,492,277 $ 5,323,803 Construction-in-process (2) 54,487 47,565 Furniture, equipment, and vehicles 61,981 59,939 Land, buildings, and improvements 856,639 848,051 Total property and equipment 6,465,384 6,279,358 Less: accumulated depreciation ( 3,790,705 ) ( 3,703,871 ) Property and equipment, net $ 2,674,679 $ 2,575,487 (1) Includes amounts related to our data centers. (2) Construction-in-process represents costs incurred related to towers and other assets that are under development and will be used in the Company’s site leasing operations.

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Intangible Assets, Net [Abstract]
Gross and Net Carrying Amounts for each Major Class of Intangible Assets	As of March 31, 2022 As of December 31, 2021 Gross carrying Accumulated Net book Gross carrying Accumulated Net book amount amortization value amount amortization value (in thousands) Current contract intangibles $ 5,113,444 $ ( 2,881,988 ) $ 2,231,456 $ 4,890,427 $ ( 2,749,594 ) $ 2,140,833 Network location intangibles 1,836,202 ( 1,157,869 ) 678,333 1,783,640 ( 1,121,226 ) 662,414 Intangible assets, net $ 6,949,646 $ ( 4,039,857 ) $ 2,909,789 $ 6,674,067 $ ( 3,870,820 ) $ 2,803,247

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2022
Accrued Expenses [Abstract]
Schedule of Accrued Expenses	As of As of March 31, 2022 December 31, 2021 (in thousands) Salaries and benefits $ 14,421 $ 24,962 Real estate and property taxes 8,843 8,336 Unpaid capital expenditures 9,176 7,295 Holdbacks 18,234 957 Other 29,954 26,520 Total accrued expenses $ 80,628 $ 68,070

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt [Abstract]
Schedule of Principal Values, Fair Values, and Carrying Values of Debt	As of As of March 31, 2022 December 31, 2021 Maturity Date Principal Balance Fair Value Carrying Value Principal Balance Fair Value Carrying Value Revolving Credit Facility Jul. 7, 2026 $ 680,000 $ 680,000 $ 680,000 $ 350,000 $ 350,000 $ 350,000 2018 Term Loan Apr. 11, 2025 2,310,000 2,275,350 2,299,522 2,316,000 2,289,945 2,304,697 2014-2C Tower Securities (1) Oct. 8, 2024 620,000 622,065 617,343 620,000 641,793 617,095 2018-1C Tower Securities (1) Mar. 9, 2023 640,000 640,960 638,264 640,000 650,163 637,812 2019-1C Tower Securities (1) Jan. 12, 2025 1,165,000 1,137,529 1,158,043 1,165,000 1,174,728 1,157,446 2020-1C Tower Securities (1) Jan. 9, 2026 750,000 715,215 744,406 750,000 746,498 744,052 2020-2C Tower Securities (1) Jan. 11, 2028 600,000 575,178 594,975 600,000 605,268 594,774 2021-1C Tower Securities (1) Nov. 9, 2026 1,165,000 1,087,283 1,154,213 1,165,000 1,144,846 1,153,700 2021-2C Tower Securities (1) Apr. 9, 2027 895,000 835,053 886,383 895,000 883,213 886,116 2021-3C Tower Securities (1) Oct. 9, 2031 895,000 841,944 886,045 895,000 902,446 885,976 2020 Senior Notes Feb. 15, 2027 1,500,000 1,462,320 1,484,876 1,500,000 1,550,790 1,484,178 2021 Senior Notes Feb. 1, 2029 1,500,000 1,358,955 1,487,262 1,500,000 1,446,975 1,486,848 Total debt $ 12,720,000 $ 12,231,852 $ 12,631,332 $ 12,396,000 $ 12,386,665 $ 12,302,694 Less: current maturities of long-term debt ( 662,264 ) ( 24,000 ) Total long-term debt, net of current maturities $ 11,969,068 $ 12,278,694 (1) 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 March 31, Rates as of 2022 2021 March 31, Cash Non-cash Cash Non-cash 2022 Interest Interest Interest Interest (in thousands) Revolving Credit Facility 1.619 % $ 2,279 $ — $ 2,148 $ — 2018 Term Loan (1) 1.926 % 10,910 11,438 10,997 11,434 2013-2C Tower Securities 3.722 % — — 5,396 — 2014-2C Tower Securities 3.869 % 6,046 — 6,046 — 2017-1C Tower Securities 3.168 % — — 6,085 — 2018-1C Tower Securities 3.448 % 5,570 — 5,570 — 2019-1C Tower Securities 2.836 % 8,357 — 8,357 — 2020-1C Tower Securities 1.884 % 3,598 — 3,598 — 2020-2C Tower Securities 2.328 % 3,540 — 3,540 — 2021-1C Tower Securities 1.631 % 4,846 — — — 2021-2C Tower Securities 1.840 % 4,196 — — — 2021-3C Tower Securities 2.593 % 5,873 — — — 2016 Senior Notes 4.875 % — — 13,406 286 2017 Senior Notes 4.000 % — — 2,333 — 2020 Senior Notes 3.875 % 14,531 88 14,531 84 2021 Senior Notes 3.125 % 11,719 — 8,073 — Other 787 — 15 — Total $ 82,252 $ 11,526 $ 90,095 $ 11,804 (1) The 2018 Term Loan has a blended rate of 1.926 %, 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 2.210 % as of March 31, 2022. Refer to Note 17 for more information on the Company’s interest rate swap.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Shareholders' Equity [Abstract]
Summary of Share Repurchases	The following is a summary of the Company’s share repurchases: For the three months ended March 31, 2022 2021 Total number of shares purchased (in millions) (1) 1.3 0.7 Average price paid per share (1) $ 332.00 $ 258.33 Total price paid (in millions) (1) $ 431.6 $ 168.9 (1) Amounts reflected are based on the trade date and could differ from the Consolidated Statements of Cash Flows which reflects share repurchases based on the settlement date .
Schedule of Dividends Paid and Dividends Declared	For the three months ended March 31, 2022, 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 27, 2022 March 10, 2022 $ 0.71 $ 76.9 million March 25, 2022 Dividends paid in 2022 were ordinary taxable dividends. Subsequent to March 31, 2022, 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 April 24, 2022 May 19, 2022 $ 0.71 June 14, 2022

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2022
Stock-Based Compensation [Abstract]
Schedule of Assumptions Used to Estimate Fair Value of Stock Options	For the three months ended March 31, 2022 Risk free interest rate 2.53 % Dividend yield 0.9 % Expected volatility 27 % Expected lives 4.3 years
Summary of Stock Option Activity	Weighted- Weighted-Average Average Remaining Number Exercise Price Contractual Aggregate of Shares Per Share Life (in years) Intrinsic Value Outstanding at December 31, 2021 1,899 $ 157.76 Granted 10 $ 328.99 Exercised ( 59 ) $ 143.16 Forfeited/canceled ( 1 ) $ 174.28 Outstanding at March 31, 2022 1,849 $ 159.13 3.1 $ 341,859 Exercisable at March 31, 2022 1,572 $ 153.68 3.0 $ 299,265 Unvested at March 31, 2022 277 $ 190.14 4.2 $ 42,594
Summary of Restricted Stock Unit and Performance Based Restricted Stock Unit Activity	RSUs PSUs (1) 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, 2021 243 $ 230.20 298 $ 304.46 Granted 93 $ 330.78 139 $ 391.19 Vested ( 110 ) $ 217.29 — $ — Forfeited/canceled ( 2 ) $ 254.31 ( 1 ) $ 290.89 Outstanding at March 31, 2022 224 $ 278.16 436 $ 332.18 (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)	3 Months Ended
	Mar. 31, 2022
Segment Data [Abstract]
Schedule of Segment Reporting Information	Domestic Site Int'l Site Site Leasing Leasing (4) Development Other Total For the three months ended March 31, 2022 (in thousands) Revenues $ 432,986 $ 126,446 $ 60,338 $ — $ 619,770 Cost of revenues (1) 65,804 41,351 45,773 — 152,928 Operating profit 367,182 85,095 14,565 — 466,842 Selling, general, and administrative expenses 23,373 15,494 5,522 17,735 62,124 Acquisition and new business initiatives related adjustments and expenses 3,599 1,505 — — 5,104 Asset impairment and decommission costs 5,483 3,029 — — 8,512 Depreciation, amortization and accretion 123,133 48,881 588 1,721 174,323 Operating income (loss) 211,594 16,186 8,455 ( 19,456 ) 216,779 Other expense (principally interest expense and other expense) 12,004 12,004 Income before income taxes 228,783 Cash capital expenditures (2) 39,545 211,771 966 1,581 253,863 For the three months ended March 31, 2021 Revenues $ 403,579 $ 101,524 $ 43,636 $ — $ 548,739 Cost of revenues (1) 65,120 30,248 34,406 — 129,774 Operating profit 338,459 71,276 9,230 — 418,965 Selling, general, and administrative expenses 28,056 7,760 5,789 9,996 51,601 Acquisition and new business initiatives related adjustments and expenses 3,332 1,669 — — 5,001 Asset impairment and decommission costs 3,871 1,032 — — 4,903 Depreciation, amortization and accretion 137,054 43,121 2,082 1,624 183,881 Operating income (loss) 166,146 17,694 1,359 ( 11,620 ) 173,579 Other expense (principally interest expense and other expense) ( 206,246 ) ( 206,246 ) Loss before income taxes ( 32,667 ) Cash capital expenditures (2) 1,059,678 16,947 870 750 1,078,245 Domestic Site Int'l Site Site Leasing Leasing (4) Development Other (3) Total Assets (in thousands) As of March 31, 2022 $ 6,522,827 $ 3,222,276 $ 100,594 $ 296,403 $ 10,142,100 As of December 31, 2021 $ 6,628,156 $ 2,870,503 $ 87,410 $ 215,630 $ 9,801,699 (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. (4) For the three months ended March 31, 2022 and 2021, site leasing revenue in Brazil was $ 65.2 million and $ 55.4 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 and $ 0.9 billion as of March 31, 2022 and December 31, 2021, respectively.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
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 ended March 31, 2022 2021 Numerator: Net income (loss) attributable to SBA Communications Corporation $ 188,623 $ ( 11,745 ) Denominator: Basic weighted-average shares outstanding 108,086 109,469 Dilutive impact of stock options, RSUs, and PSUs 1,458 — Diluted weighted-average shares outstanding 109,544 109,469 Net income (loss) per common share attributable to SBA Communications Corporation: Basic $ 1.75 $ ( 0.11 ) Diluted $ 1.72 $ ( 0.11 )

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2022
Redeemable Noncontrolling Interests [Abstract]
Components of Redeemable Noncontrolling Interest	March 31, December 31, 2022 2021 Beginning balance $ 17,250 $ 15,194 Net loss attributable to noncontrolling interests ( 317 ) — Foreign currency translation adjustments ( 117 ) — Purchase of noncontrolling interests — ( 18,000 ) Contribution from joint venture partner — 17,250 Adjustment to redemption amount 19,221 2,806 Ending balance $ 36,037 $ 17,250

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2022
Derivatives and Hedging Activities [Abstract]
Schedule of Effect of Derivatives on the Consolidated Statements of Operations	For the three months ended March 31, 2022 2021 Cash Flow Hedge - Interest Rate Swap Agreement (in thousands) Change in fair value recorded in Accumulated other comprehensive loss, net $ 74,101 $ 31,566 Derivatives Not Designated as Hedges - Interest Rate Swap Agreements Amount reclassified from Accumulated other comprehensive loss, net into Non-cash interest expense $ 11,221 $ 11,221

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 29, 2022	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Basis of Presentation [Line Items]
Loss on remeasurement of U.S. dollar denominated intercompany loan		$ 72.9	$ (57)
Repayment of debt		36.5
Intercompany foreign currency outstanding balance		$ 870.3		$ 872.9
Subsequent Event [Member]
Basis of Presentation [Line Items]
Repayment of debt	$ 64.9

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investments	$ 45,617		$ 47,889
Short-term investments	800		$ 800
Purchase of short-term investments	30,200	$ 755,000
Proceeds from sale of short-term investments	$ 30,200	$ 755,000
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
	Mar. 31, 2022	Mar. 31, 2021
Fair Value Measurements [Abstract]
Asset impairment	$ 7,790	$ 3,156
Write-off of carrying value of decommissioned towers	590	1,327
Other (including third party decommission costs)	132	420
Total asset impairment and decommission costs	$ 8,512	$ 4,903

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash (Narrative) (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Restricted Cash And Cash Equivalents Items [Line Items]
Surety, payment and performance bonds	$ 42,400,000	$ 42,300,000
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	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021	Dec. 31, 2020
Restricted Cash And Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 263,569	$ 367,278
Restricted cash - current asset	69,781	65,561
Total cash, cash equivalents, and restricted cash	336,438	435,626	$ 242,185	$ 342,808
Securitization Escrow Accounts [Member] | Restricted Cash - Current Asset [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - current asset	68,983	64,764
Payment and Performance Bonds [Member] | Restricted Cash - Current Asset [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - current asset	798	797
Surety Bonds and Workers Compensation [Member] | Other Assets - Noncurrent [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - noncurrent asset	$ 3,088	$ 2,787

Costs and Estimated Earnings _3

Costs and Estimated Earnings on Uncompleted Contracts (Narrative) (Details) - Customer Concentration Risk [Member] - Contract with Customer [Member] - customer	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Concentration Risk [Line Items]
Number of significant customers	8	8
Eight Largest Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage	98.20%	98.80%

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	Mar. 31, 2022	Dec. 31, 2021
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Costs incurred on uncompleted contracts	$ 81,293	$ 75,967
Estimated earnings	31,476	28,851
Billings to date	(72,420)	(61,628)
Costs and estimated earnings on uncompleted contracts	$ 40,349	$ 43,190

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	Mar. 31, 2022	Dec. 31, 2021
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts	$ 48,028	$ 48,844
Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities)	(7,679)	(5,654)
Costs and estimated earnings on uncompleted contracts	$ 40,349	$ 43,190

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	Mar. 31, 2022	Dec. 31, 2021
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Prepaid real estate taxes	$ 3,517	$ 3,331
Prepaid taxes	10,093	11,096
Other current assets	22,852	16,386
Total prepaid expenses and other current assets	$ 36,462	$ 30,813

Prepaid Expenses and Other Cu_4

Prepaid Expenses and Other Current Assets and Other Assets (Schedule of Other Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Straight-line rent receivable	$ 362,370	$ 348,519
Interest rate swap asset	134,425	60,324
Loans receivable	40,063	37,376
Deferred lease costs, net	6,379	6,345
Deferred tax asset - long term	20,296	51,918
Long-term investments	45,617	47,889
Other	29,264	23,273
Total other assets	$ 638,414	$ 575,644

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Millions	1 Months Ended	3 Months Ended
	Apr. 29, 2022USD ($)item	Mar. 31, 2022USD ($)item	Dec. 31, 2021USD ($)
Business Acquisition [Line Items]
Performance targets, maximum potential obligation		$ 11.4	$ 11.6
Other Acquisitions [Member]
Business Acquisition [Line Items]
Number of towers acquired | item		1,807
Property and equipment		$ 74.9
Intangible assets		83.2
Operating leases right-of-use assets, net		36.3
Acquired and other right-of-use assets, net		58.3
Other net liabilities assumed		$ 44.9
Airtel Tanzania [Member]
Business Acquisition [Line Items]
Number of communication sites acquired | item		1,445
Airtel Tanzania [Member] | Legal Title Fully Transferred [Member]
Business Acquisition [Line Items]
Number of communication sites acquired | item		963
Airtel Tanzania [Member] | Initially Recorded in Acquired and Other Right-of-use Assets, Net [Member]
Business Acquisition [Line Items]
Number of communication sites acquired | item		482
Subsequent Event [Member] | Airtel Tanzania [Member]
Business Acquisition [Line Items]
Cash paid for acquisition	$ 177.1
Number of communication sites acquired | item	358

Acquisitions (Schedule of Acqui

Acquisitions (Schedule of Acquisition Capital Expenditures) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)item	Mar. 31, 2021USD ($)item
Business Acquisition [Line Items]
Acquisitions of towers and related intangible assets	$ 207,863	$ 101,630
Acquisition of right-of-use assets		945,915
Land buyouts and other assets	7,318	5,131
Total cash acquisition capital expenditures	215,181	1,052,676
Ground lease extensions	3,800	$ 2,800
Airtel Tanzania [Member]
Business Acquisition [Line Items]
Acquisitions of towers and related intangible assets	$ 176,100
Number of communication sites acquired | item	1,445
Exclusive Right to Lease and Operate Utility Transmission Structures [Member]
Business Acquisition [Line Items]
Number of utility transmission structures acquired | item		697
Consideration transferred		$ 954,000
Finance lease term	70 years
Legal Title Fully Transferred [Member] | Airtel Tanzania [Member]
Business Acquisition [Line Items]
Number of communication sites acquired | item	963
Initially Recorded in Acquired and Other Right-of-use Assets, Net [Member] | Airtel Tanzania [Member]
Business Acquisition [Line Items]
Number of communication sites acquired | item	482

Property and Equipment, Net (Na

Property and Equipment, Net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Property and Equipment, Net [Abstract]
Depreciation expense	$ 68,100	$ 71,500
Unpaid capital expenditures	$ 9,176		$ 7,295

Property and Equipment, Net (Pr

Property and Equipment, Net (Property and Equipment, Net (Including Assets Held Under Capital Leases)) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 6,465,384	$ 6,279,358
Less: accumulated depreciation	(3,790,705)	(3,703,871)
Property and equipment, net	2,674,679	2,575,487
Towers and Related Components [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	5,492,277	5,323,803
Construction-In-Process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	54,487	47,565
Furniture, Equipment and Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	61,981	59,939
Land, Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 856,639	$ 848,051

Intangible Assets, Net (Narrati

Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Intangible Assets, Net [Abstract]
Amortization expense	$ 100.6	$ 109.8

Intangible Assets, Net (Gross a

Intangible Assets, Net (Gross and Net Carrying Amounts for each Major Class of Intangible Assets) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 6,949,646	$ 6,674,067
Accumulated amortization	(4,039,857)	(3,870,820)
Net book value	2,909,789	2,803,247
Current Contract Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,113,444	4,890,427
Accumulated amortization	(2,881,988)	(2,749,594)
Net book value	2,231,456	2,140,833
Network Location Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,836,202	1,783,640
Accumulated amortization	(1,157,869)	(1,121,226)
Net book value	$ 678,333	$ 662,414

Accrued Expenses (Schedule of A

Accrued Expenses (Schedule of Accrued Expenses) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accrued Expenses [Abstract]
Salaries and benefits	$ 14,421	$ 24,962
Real estate and property taxes	8,843	8,336
Unpaid capital expenditures	9,176	7,295
Holdbacks	18,234	957
Other	29,954	26,520
Total accrued expenses	$ 80,628	$ 68,070

Debt (Revolving Credit Facility

Debt (Revolving Credit Facility under the Senior Credit Agreement) (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Apr. 29, 2022	Mar. 31, 2022	Mar. 31, 2021
Line of Credit Facility [Line Items]
Repayments of revolving credit facility			$ 500,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Line of credit facility, commitment fee		0.15%
Borrowings on the revolving credit facility		$ 330,000
Line of credit facility, outstanding		$ 680,000
Revolving credit facility, effective interest rate		1.619%
Revolving Credit Facility [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Repayments of revolving credit facility	$ 110,000
Line of credit facility, outstanding	$ 570,000
Reduction in spread	0.05%
Reduction in commitment fee	0.01%

Debt (Term Loan under the Senio

Debt (Term Loan under the Senior Credit Agreement) (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Debt instrument, principal amount	$ 12,720,000,000	$ 12,396,000,000
2018 Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, principal amount	2,310,000,000	$ 2,316,000,000
Repayment of term loans	$ 6,000,000

Debt (Schedule of Principal Val

Debt (Schedule of Principal Values, Fair Values, and Carrying Values of Debt) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Principal Balance	$ 12,720,000,000	$ 12,396,000,000
Fair Value	12,231,852,000	12,386,665,000
Carrying Value	12,631,332,000	12,302,694,000
Less: current maturities of long-term debt	(662,264,000)	(24,000,000)
Total long-term debt, net of current maturities	$ 11,969,068,000	12,278,694,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Jul. 7, 2026
Principal Balance	$ 680,000,000	350,000,000
Fair Value	680,000,000	350,000,000
Carrying Value	$ 680,000,000	350,000,000
2018 Term Loan [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 11, 2025
Principal Balance	$ 2,310,000,000	2,316,000,000
Fair Value	2,275,350,000	2,289,945,000
Carrying Value	$ 2,299,522,000	2,304,697,000
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	622,065,000	641,793,000
Carrying Value	$ 617,343,000	617,095,000
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	640,960,000	650,163,000
Carrying Value	$ 638,264,000	637,812,000
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	1,137,529,000	1,174,728,000
Carrying Value	$ 1,158,043,000	1,157,446,000
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	715,215,000	746,498,000
Carrying Value	$ 744,406,000	744,052,000
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	575,178,000	605,268,000
Carrying Value	$ 594,975,000	594,774,000
2021-1C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Nov. 9, 2026
Principal Balance	$ 1,165,000,000	1,165,000,000
Fair Value	1,087,283,000	1,144,846,000
Carrying Value	$ 1,154,213,000	1,153,700,000
2021-2C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Apr. 9, 2027
Principal Balance	$ 895,000,000	895,000,000
Fair Value	835,053,000	883,213,000
Carrying Value	$ 886,383,000	886,116,000
2021-3C Tower Securities [Member]
Debt Instrument [Line Items]
Debt instrument, maturity date	Oct. 9, 2031
Principal Balance	$ 895,000,000	895,000,000
Fair Value	841,944,000	902,446,000
Carrying Value	$ 886,045,000	885,976,000
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	1,462,320,000	1,550,790,000
Carrying Value	$ 1,484,876,000	1,484,178,000
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	1,358,955,000	1,446,975,000
Carrying Value	$ 1,487,262,000	$ 1,486,848,000

Debt (Schedule of Cash and Non-

Debt (Schedule of Cash and Non-Cash Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Cash Interest	$ 82,252	$ 90,095
Non-cash Interest	$ 11,526	11,804
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	1.619%
Cash Interest	$ 2,279	2,148
2018 Term Loan [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	1.926%
Cash Interest	$ 10,910	10,997
Non-cash Interest	$ 11,438	11,434
Blended rate	1.926%
Accruing interest rate	2.21%
2013-2C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	3.722%
Cash Interest		5,396
2014-2C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	3.869%
Cash Interest	$ 6,046	6,046
2017-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	3.168%
Cash Interest		6,085
2018-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	3.448%
Cash Interest	$ 5,570	5,570
2019-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	2.836%
Cash Interest	$ 8,357	8,357
2020-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	1.884%
Cash Interest	$ 3,598	3,598
2020-2C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	2.328%
Cash Interest	$ 3,540	3,540
2021-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	1.631%
Cash Interest	$ 4,846
2021-2C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	1.84%
Cash Interest	$ 4,196
2021-3C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	2.593%
Cash Interest	$ 5,873
2016 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	4.875%
Cash Interest		13,406
Non-cash Interest		286
2017 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	4.00%
Cash Interest		2,333
2020 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	3.875%
Cash Interest	$ 14,531	14,531
Non-cash Interest	$ 88	84
2021 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rates as of March 31, 2022	3.125%
Cash Interest	$ 11,719	8,073
Other [Member]
Debt Instrument [Line Items]
Cash Interest	787	$ 15
Interest Rate Swap [Member] | 2018 Term Loan [Member]
Debt Instrument [Line Items]
Notional amount	$ 1,950,000
Derivative fixed interest rate	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%

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ in Millions	Apr. 29, 2022	Oct. 28, 2021	Nov. 02, 2020
New Plan [Member] | Subsequent Event [Member]
Class of Stock [Line Items]
Stock repurchase program, remaining authorization	$ 504.7
New Plan [Member] | Class A Common Stock [Member]
Class of Stock [Line Items]
Stock repurchase program, authorized		$ 1,000
Prior Plan [Member] | Class A Common Stock [Member]
Class of Stock [Line Items]
Stock repurchase program, remaining authorization			$ 125.1

Shareholders' Equity (Summary o

Shareholders' Equity (Summary of Share Repurchases) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Shareholders' Equity [Abstract]
Total number of shares purchased (in millions)	1.3	0.7
Average price paid per share	$ 332	$ 258.33
Total price paid (in millions)	$ 431.6	$ 168.9

Shareholders' Equity (Schedule

Shareholders' Equity (Schedule of Dividends Paid and Dividends Declared) (Details) - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	3 Months Ended
	Apr. 29, 2022	Mar. 31, 2022
February 27,2022 [Member]
Date Declared		Feb. 27, 2022
Payable to Shareholders of Record at the Close of Business on		Mar. 10, 2022
Cash Paid Per Share		$ 0.71
Aggregate Amount Paid		$ 76.9
Date Paid/Date to be Paid		Mar. 25, 2022
Subsequent Event [Member] | April 24, 2022 [Member]
Date Declared	Apr. 24, 2022
Payable to Shareholders of Record at the Close of Business on	May 19, 2022
Cash to be Paid Per Share	$ 0.71
Date Paid/Date to be Paid	Jun. 14, 2022

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock-Based Compensation [Abstract]
Grants in period	10,000	0
Weighted-average fair value of options granted	$ 82.28
Total intrinsic value for options exercised	$ 11

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of Assumptions used to Estimate Fair Value of Stock Options) (Details)	3 Months Ended
	Mar. 31, 2022
Stock-Based Compensation [Abstract]
Risk free interest rate	2.53%
Dividend yield	0.90%
Expected volatility	27.00%
Expected lives	4 years 3 months 18 days

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Stock Option Activity) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stock-Based Compensation [Abstract]
Number of Shares, Outstanding at December 31, 2021	1,899,000
Number of Shares, Granted	10,000	0
Number of Shares, Exercised	(59,000)
Number of Shares, Forfeited/canceled	(1,000)
Number of Shares, Outstanding at March 31, 2022	1,849,000
Number of Shares, Exercisable at March 31, 2022	1,572,000
Number of Shares, Unvested at March 31, 2022	277,000
Weighted-Average Exercise Price Per Share, Outstanding at December 31, 2021	$ 157.76
Weighted-Average Exercise Price Per Share, Granted	328.99
Weighted-Average Exercise Price Per Share, Exercised	143.16
Weighted-Average Exercise Price Per Share, Forfeited/canceled	174.28
Weighted-Average Exercise Price Per Share, Outstanding at March 31, 2022	159.13
Weighted-Average Exercise Price Per Share, Exercisable at March 31, 2022	153.68
Weighted-Average Exercise Price Per Share, Unvested at March 31, 2022	$ 190.14
Weighted-Average Remaining Contractual Life (in years), Outstanding at March 31, 2022	3 years 1 month 6 days
Weighted-Average Remaining Contractual Life (in years), Exercisable at March 31, 2022	3 years
Weighted-Average Remaining Contractual Life (in years), Unvested at March 31, 2022	4 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding at March 31, 2022	$ 341,859
Aggregate Intrinsic Value, Exercisable at March 31, 2022	299,265
Aggregate Intrinsic Value, Unvested at March 31, 2022	$ 42,594

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary of Restricted Stock Unit and Performance Based Restricted Stock Unit Activity) (Details) shares in Thousands	3 Months Ended
	Mar. 31, 2022$ / sharesshares
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Outstanding at December 31, 2021 | shares	243
Number of Shares, Granted | shares	93
Number of Shares, Vested | shares	(110)
Number of Shares, Forfeited/canceled | shares	(2)
Number of Shares, Outstanding at March 31, 2022 | shares	224
Weighted-Average Grant Date Fair Value per Share, Outstanding at December 31, 2021 | $ / shares	$ 230.20
Weighted-Average Grant Date Fair Value per Share, Granted | $ / shares	330.78
Weighted-Average Grant Date Fair Value per Share, Vested | $ / shares	217.29
Weighted-Average Grant Date Fair Value per Share, Forfeited/canceled | $ / shares	254.31
Weighted-Average Grant Date Fair Value per Share, Outstanding at March 31, 2022 | $ / shares	$ 278.16
Performance Stock Units (PSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Outstanding at December 31, 2021 | shares	298
Number of Shares, Granted | shares	139
Number of Shares, Vested | shares
Number of Shares, Forfeited/canceled | shares	(1)
Number of Shares, Outstanding at March 31, 2022 | shares	436
Weighted-Average Grant Date Fair Value per Share, Outstanding at December 31, 2021 | $ / shares	$ 304.46
Weighted-Average Grant Date Fair Value per Share, Granted | $ / shares	391.19
Weighted-Average Grant Date Fair Value per Share, Vested | $ / shares
Weighted-Average Grant Date Fair Value per Share, Forfeited/canceled | $ / shares	290.89
Weighted-Average Grant Date Fair Value per Share, Outstanding at March 31, 2022 | $ / shares	$ 332.18
Performance period	3 years

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) $ in Millions	Dec. 31, 2021USD ($)
Income Taxes [Abstract]
Federal net operating loss carry-forward	$ 654.7

Segment Data (Narrative) (Detai

Segment Data (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)segment	Mar. 31, 2021USD ($)	Dec. 31, 2021USD ($)
Segment Reporting Information [Line Items]
Number of business segments | segment	2
Site leasing	$ 559,432	$ 505,103
Total assets	$ 10,142,100		$ 9,801,699
Site Leasing Revenue [Member]
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Brazil [Member]
Segment Reporting Information [Line Items]
Site leasing	$ 65,200	$ 55,400
Total assets	$ 1,000,000		$ 900,000

Segment Data (Schedule of Segme

Segment Data (Schedule of Segment Reporting Information) (Details) - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues		$ 619,770	$ 548,739
Cost of revenues		152,928	129,774
Operating profit		466,842	418,965
Selling, general, and administrative expenses	[1]	62,124	51,601
Acquisition and new business initiatives related adjustments and expenses		5,104	5,001
Asset impairment and decommission costs		8,512	4,903
Depreciation, amortization and accretion		174,323	183,881
Operating income		216,779	173,579
Other income (expense) (principally interest expense and other expense)		12,004	(206,246)
Income (loss) before income taxes		228,783	(32,667)
Cash capital expenditures		253,863	1,078,245
Assets		10,142,100		$ 9,801,699
Domestic Site Leasing [Member]
Segment Reporting Information [Line Items]
Revenues		432,986	403,579
Cost of revenues		65,804	65,120
Operating profit		367,182	338,459
Selling, general, and administrative expenses		23,373	28,056
Acquisition and new business initiatives related adjustments and expenses		3,599	3,332
Asset impairment and decommission costs		5,483	3,871
Depreciation, amortization and accretion		123,133	137,054
Operating income		211,594	166,146
Cash capital expenditures		39,545	1,059,678
Assets		6,522,827		6,628,156
International Site Leasing [Member]
Segment Reporting Information [Line Items]
Revenues		126,446	101,524
Cost of revenues		41,351	30,248
Operating profit		85,095	71,276
Selling, general, and administrative expenses		15,494	7,760
Acquisition and new business initiatives related adjustments and expenses		1,505	1,669
Asset impairment and decommission costs		3,029	1,032
Depreciation, amortization and accretion		48,881	43,121
Operating income		16,186	17,694
Cash capital expenditures		211,771	16,947
Assets		3,222,276		2,870,503
Site Development [Member]
Segment Reporting Information [Line Items]
Revenues		60,338	43,636
Cost of revenues		45,773	34,406
Operating profit		14,565	9,230
Selling, general, and administrative expenses		5,522	5,789
Depreciation, amortization and accretion		588	2,082
Operating income		8,455	1,359
Cash capital expenditures		966	870
Assets		100,594		87,410
Other [Member]
Segment Reporting Information [Line Items]
Selling, general, and administrative expenses		17,735	9,996
Depreciation, amortization and accretion		1,721	1,624
Operating income		(19,456)	(11,620)
Other income (expense) (principally interest expense and other expense)		12,004	(206,246)
Cash capital expenditures		1,581	$ 750
Assets		$ 296,403		$ 215,630
[1]	Includes non-cash compensation expense of $ 24,116 and $ 19,584 for the three months ended March 31, 2022 and 2021, respectively.

Earnings Per Share (Narrative)

Earnings Per Share (Narrative) (Details) shares in Millions	3 Months Ended
	Mar. 31, 2021shares
Stock Options [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from earnings per share calculation	3.1
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	0.3

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
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income (loss) attributable to SBA Communications Corporation	$ 188,623	$ (11,745)
Basic weighted-average shares outstanding	108,086	109,469
Dilutive impact of stock options, RSUs, and PSUs	1,458
Diluted weighted-average shares outstanding	109,544	109,469
Net income (loss) per common share attributable to SBA Communications Corporation:
Basic	$ 1.75	$ (0.11)
Diluted	$ 1.72	$ (0.11)

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interests (Narrative) (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Redeemable Noncontrolling Interests [Abstract]
Redemption amount	$ 36,037	$ 17,250	$ 15,194

Redeemable Noncontrolling Int_4

Redeemable Noncontrolling Interests (Components of Redeemable Noncontrolling Interest) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Redeemable Noncontrolling Interests [Abstract]
Beginning balance	$ 17,250	$ 15,194
Net (loss) income attributable to noncontrolling interests	(317)
Foreign currency translation adjustments	(117)
Purchase of noncontrolling interests		(18,000)
Contribution from joint venture partner		17,250
Adjustment to redemption amount	19,221	2,806
Ending balance	$ 36,037	$ 17,250

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) - USD ($)	Aug. 04, 2020	Mar. 31, 2022	Dec. 31, 2021
Interest Rate Swap [Member]
Derivative [Line Items]
Amount recorded in Accumulated other comprehensive loss, net		$ 37,500,000	$ (47,800,000)
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		$ 134,400,000	$ 60,300,000
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 on the Consolidated Statements of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value recorded in Other income (expense), net	$ 108,161	$ (88,436)
Interest Rate Swap [Member] | Accumulated Gain (Loss), Cash Flow Hedge, Including Noncontrolling Interest [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Change in fair value of cash flow hedge	74,101	31,566
Derivatives Not Designated as Hedges - Interest Rate Swap Agreements [Member] | Accumulated Other Comprehensive Income (Loss), Derivative Qualifying as Hedge, Excluded Component, Including Portion Attributable to Noncontrolling Interest [Member] | Reclassification out of Accumulated Other Comprehensive Income [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount recognized/reclassified in Non-cash interest expense	$ 11,221	$ 11,221