SBA Communications (SBAC) 10-Q 8 May 23 2023 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2023	Apr. 26, 2023
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, 2023
Document Fiscal Year Focus	2023
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		108,339,393
Amendment Flag	false
Document Fiscal Period Focus	Q1
Entity Central Index Key	0001034054

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 152,772	$ 143,708
Restricted cash	36,615	41,959
Accounts receivable, net	183,134	184,368
Costs and estimated earnings in excess of billings on uncompleted contracts	58,815	79,549
Prepaid expenses and other current assets	40,214	33,149
Total current assets	471,550	482,733
Property and equipment, net	2,709,784	2,713,727
Intangible assets, net	2,693,883	2,776,472
Operating lease right-of-use assets, net	2,376,609	2,381,955
Acquired and other right-of-use assets, net	1,518,648	1,507,781
Other assets	771,055	722,373
Total assets	10,541,529	10,585,041
Current Liabilities:
Accounts payable	53,553	51,427
Accrued expenses	92,797	101,484
Current maturities of long-term debt	24,000	24,000
Deferred revenue	145,399	154,553
Accrued interest	28,215	54,173
Current lease liabilities	270,308	262,365
Other current liabilities	24,511	48,762
Total current liabilities	638,783	696,764
Long-term liabilities:
Long-term debt, net	12,797,828	12,844,162
Long-term lease liabilities	2,033,167	2,040,628
Other long-term liabilities	302,721	248,067
Total long-term liabilities	15,133,716	15,132,857
Redeemable noncontrolling interests	38,184	31,735
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, 108,326 shares and 107,997 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively	1,083	1,080
Additional paid-in capital	2,800,046	2,795,176
Accumulated deficit	(7,473,913)	(7,482,061)
Accumulated other comprehensive loss, net	(596,370)	(590,510)
Total shareholders' deficit	(5,269,154)	(5,276,315)
Total liabilities, redeemable noncontrolling interests, and shareholders' deficit	$ 10,541,529	$ 10,585,041

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
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	108,326,000	107,997,000
Common stock - Class A, shares outstanding	108,326,000	107,997,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands		3 Months Ended
		Mar. 31, 2023	Mar. 31, 2022
Revenues:
Site leasing		$ 617,268	$ 559,432
Site development		58,248	60,338
Total revenues		675,516	619,770
Cost of revenues (exclusive of depreciation, accretion, and amortization shown below):
Cost of site leasing		120,119	107,155
Cost of site development		44,185	45,773
Selling, general, and administrative expenses	[1]	72,209	62,124
Acquisition and new business initiatives related adjustments and expenses		6,057	5,104
Asset impairment and decommission costs		26,390	8,512
Depreciation, accretion, and amortization		182,415	174,323
Total operating expenses		451,375	402,991
Operating income		224,141	216,779
Other income (expense):
Interest income		2,816	2,502
Interest expense		(101,226)	(82,252)
Non-cash interest expense		(14,239)	(11,526)
Amortization of deferred financing fees		(4,988)	(4,881)
Other income, net		37,558	108,161
Total other (expense) income, net		(80,079)	12,004
Income before income taxes		144,062	228,783
Provision for income taxes		(43,508)	(40,477)
Net income		100,554	188,306
Net loss attributable to noncontrolling interests		663	317
Net income attributable to SBA Communications Corporation		$ 101,217	$ 188,623
Net income per common share attributable to SBA Communications Corporation:
Basic		$ 0.94	$ 1.75
Diluted		$ 0.93	$ 1.72
Weighted average number of common shares
Basic		108,132	108,086
Diluted		109,271	109,544
[1] Includes non-cash compensation of $ 25,529 and $ 24,116 for the three months ended March 31, 2023 and 2022, respectively.

Consolidated Statements of Op_2

Consolidated Statements of Operations (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Non-cash compensation expense	$ 26,206	$ 24,747
Selling, General And Administrative [Member]
Non-cash compensation expense	$ 25,529	$ 24,116

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Consolidated Statements of Comprehensive Income [Abstract]
Net income	$ 100,554	$ 188,306
Adjustments related to interest rate swaps	(22,389)	85,322
Foreign currency translation adjustments	16,529	85,506
Comprehensive income	94,694	359,134
Comprehensive loss attributable to noncontrolling interests	663	434
Comprehensive income attributable to SBA Communications Corporation	$ 95,357	$ 359,568

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Deficit - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member] Class A Common Stock [Member]	Additional Paid-In Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Loss, Net [Member]	Total
BALANCE at Dec. 31, 2021	$ 1,089	$ 2,681,347	$ (7,203,531)	$ (762,309)	$ (5,283,404)
BALANCE, Shares at Dec. 31, 2021	108,956
Net income 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
BALANCE at Dec. 31, 2022	$ 1,080	2,795,176	(7,482,061)	(590,510)	$ (5,276,315)
BALANCE, Shares at Dec. 31, 2022	107,997				107,997
Net income attributable to SBA Communications Corporation			101,217		$ 101,217
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements	$ 3	(14,719)			(14,716)
Common stock issued in connection with equity awards and stock purchase plans, offset by the impact of net share settlements, Shares	329
Non-cash stock compensation		26,701			26,701
Adjustments related to interest rate swaps				(22,389)	(22,389)
Foreign currency translation adjustments attributable to SBA Communications Corporation				16,529	16,529
Dividends and dividend equivalents on common stock			(93,069)		(93,069)
Adjustment to redemption amount related to noncontrolling interests		(7,112)			(7,112)
BALANCE at Mar. 31, 2023	$ 1,083	$ 2,800,046	$ (7,473,913)	$ (596,370)	$ (5,269,154)
BALANCE, Shares at Mar. 31, 2023	108,326				108,326

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 100,554	$ 188,306
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, accretion, and amortization	182,415	174,323
Gain on remeasurement of U.S. denominated intercompany loans	(41,932)	(109,644)
Non-cash compensation expense	26,206	24,747
Non-cash asset impairment and decommission costs	26,417	8,366
Deferred and non-cash income tax provision	36,320	34,262
Other non-cash items reflected in the Statements of Operations	23,883	16,896
Changes in operating assets and liabilities, net of acquisitions:
Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts, net	9,103	(9,812)
Prepaid expenses and other assets	(4,235)	(2,201)
Operating lease right-of-use assets, net	37,452	33,682
Accounts payable and accrued expenses	(8,904)	(7,002)
Accrued interest	(25,958)	(25,384)
Long-term lease liabilities	(34,475)	(31,038)
Other liabilities	(15,678)	(3,019)
Net cash provided by operating activities	311,168	292,482
CASH FLOWS FROM INVESTING ACTIVITIES:
Acquisitions	(19,929)	(215,181)
Capital expenditures	(49,135)	(38,008)
Purchase of investments	(213,371)	(30,393)
Proceeds from sale of investments	213,003	30,214
Other investing activities	(77,329)	(2,513)
Net cash used in investing activities	(146,761)	(255,881)
CASH FLOWS FROM FINANCING ACTIVITIES:
Borrowings under Revolving Credit Facility	140,000	330,000
Repayments under Revolving Credit Facility	(185,000)
Repurchase and retirement of common stock		(431,667)
Payment of dividends on common stock	(93,933)	(76,873)
Proceeds from employee stock purchase/stock option plans	11,942	10,836
Payments related to taxes on stock options and restricted stock units	(26,658)	(9,228)
Other financing activities	(7,079)	25,182
Net cash used in financing activities	(160,728)	(151,750)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	220	15,961
NET CHANGE IN CASH, CASH EQUIVALENTS, AND RESTRICTED CASH	3,899	(99,188)
CASH, CASH EQUIVALENTS, AND RESTRICTED CASH:
Beginning of period	189,283	435,626
End of period	193,182	336,438
Cash paid during the period for:
Interest	127,094	107,594
Income taxes	7,000	5,696
SUPPLEMENTAL CASH FLOW INFORMATION OF NON-CASH ACTIVITIES:
Right-of-use assets obtained in exchange for new operating lease liabilities	7,733	41,038
Operating lease modifications and reassessments	12,859	12,445
Right-of-use assets obtained in exchange for new finance lease liabilities	$ 256	$ 674

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2023
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, 2022 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 and deferrals) 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, 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, net in the Consolidated Statements of Operations as settlement is anticipated or planned in the foreseeable future. The Company recorded a $ 27.4 million gain and a $ 72.9 million gain, net of taxes, on the remeasurement of intercompany loans for the three months ended March 31, 2023 and 2022, respectively, due to changes in foreign exchange rates. During the three months ended March 31, 2023, the Company repaid $ 45.8 million under its intercompany loan agreements. As of March 31, 2023 and December 31, 2022, the aggregate amount outstanding under the intercompany loan agreements subject to remeasurement with the Company’s foreign subsidiaries was $ 1.5 billion.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
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 noncontrolling interests. Items Measured at Fair Value on a Nonrecurring Basis — The Company estimates the fair value of assets subject to impairment using a discounted cash flow (“DCF”) (Level 3 input) analysis. Determining fair value requires the exercise of significant judgments, including the amount and timing of expected future cash flows, long-term growth rates, discount rates and relevant comparable earnings and trading multiples. The cash flows employed in the DCF analysis are based on estimates of future revenues, earnings, and cash flows after considering factors such as tower location demographics, timing of additions of new tenants, lease rates, rate and term of renewal, attrition, ongoing cash requirements, and market multiples. Each of the assumptions are applied based on the specific facts and circumstances of the identified assets at the lowest level of identifiable cash flows. The DCF analysis used an average discount rate ranging from 7.2 % - 8.7 %. 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 : For the three months ended March 31, 2023 2022 (in thousands) Asset impairment (1) $ 22,332 $ 7,790 Write-off of carrying value of decommissioned towers 1,954 590 Other (including third party decommission costs) 2,104 132 Total asset impairment and decommission costs $ 26,390 $ 8,512 (1) Represents impairment charges resulting from the Company’s regular analysis of whether the anticipated future cash flows from certain towers are sufficient to recover the carrying value of the investment in those towers . As a result of increased churn from Sprint, the Company experienced increased asset impairment charges for the three months ended March 31, 2023. The Company’s long-term investments were $ 37.1 million and $ 40.7 million as of March 31, 2023 and December 31, 2022, respectively, and are recorded in Other assets on the Consolidated Balance Sheets. Some of these investments provide for the Company to increase its 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 short 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, 2023 and December 31, 2022, the Company had $ 1.9 million and $ 1.3 million of short-term investments, respectively. For the three months ended March 31, 2023, the Company purchased $ 213.3 million and sold $ 213.0 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. 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, 2023
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, 2023 December 31, 2022 Included on Balance Sheet (in thousands) Cash and cash equivalents $ 152,772 $ 143,708 Cash and cash equivalents Securitization escrow accounts 30,616 35,820 Restricted cash - current asset Payment, performance bonds, and other 5,999 6,139 Restricted cash - current asset Surety bonds and workers compensation 3,795 3,616 Other assets - noncurrent Total cash, cash equivalents, and restricted cash $ 193,182 $ 189,283 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. Other restricted cash includes $ 5.8 million and $ 6.0 million held in escrow as of March 31, 2023 and December 31, 2022, respectively, related to the Company’s acquisition activities. 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, 2023 and December 31, 2022, the Company had $ 41.5 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, 2023 and December 31, 2022, 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, 2023
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, 2023 December 31, 2022 (in thousands) Costs incurred on uncompleted contracts $ 152,600 $ 137,736 Estimated earnings 79,772 51,287 Billings to date ( 183,567 ) ( 134,665 ) $ 48,805 $ 54,358 These amounts are included in the Consolidated Balance Sheets under the following captions: As of As of March 31, 2023 December 31, 2022 (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 58,815 $ 79,549 Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities) ( 10,010 ) ( 25,191 ) $ 48,805 $ 54,358 At March 31, 2023 and December 31, 2022, the two largest customers comprised 95.0 % and 96.7 %, 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, 2023
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, 2023 December 31, 2022 (in thousands) Short-term investments $ 1,864 $ 1,331 Prepaid real estate taxes 3,594 3,333 Prepaid taxes 10,500 10,639 Other current assets 24,256 17,846 Total prepaid expenses and other current assets $ 40,214 $ 33,149 The Company’s other assets are comprised of the following: As of As of March 31, 2023 December 31, 2022 (in thousands) Straight-line rent receivable $ 396,617 $ 388,638 Interest rate swap asset (1) 151,464 182,860 Loans receivable (2) 117,880 39,922 Deferred lease costs, net 8,509 7,747 Deferred tax asset - long term 11,736 16,173 Long-term investments 37,068 40,696 Other 47,781 46,337 Total other assets $ 771,055 $ 722,373 (1) Refer to Note 17 for more information on the Company’s interest rate swaps. (2) On March 17, 2023, the Company entered into a loan with one of its unconsolidated joint ventures (“the Investee”). As part of the loan agreement, the Investee may borrow up to $ 120.0 million in aggregate principal amount, consisting of a $ 73.0 million initial term loan and $ 47.0 million of delayed draw term loans. The final maturity date of the loans is November 30, 2024. The loans accrue interest at a variable rate, adjusting monthly, plus the applicable margin. Interest on the loans is received monthly. The funding of the loans is recorded in Other investing activities on the Consolidated Statements of Cash Flows. As of March 31, 2023, the outstanding principal balance of the loan was $ 78.0 million and was accruing interest at 9.49 %.

Acquisitions

Acquisitions	3 Months Ended
	Mar. 31, 2023
Acquisitions [Abstract]
Acquisitions	6. ACQUISITIONS The following table summarizes the Company’s acquisition activity: For the three months ended March 31, 2023 2022 (in thousands) Acquisitions of towers and related intangible assets (1) $ 11,471 $ 207,863 Acquisition of right-of-use assets 1,309 — Land buyouts and other assets (2) 7,149 7,318 Total cash acquisition capital expenditures $ 19,929 $ 215,181 (1) The three months ended March 31, 2022 includes $ 176.1 million of acquisitions related to the Company’s purchase of sites from Airtel Tanzania. (2) Excludes $ 5.1 million and $ 3.8 million spent to extend ground lease terms for the three months ended March 31, 2023 and 2022, respectively. The Company recorded these amounts in prepaid rent within prepaid and other current assets on its Consolidated Balance Sheets. During the three months ended March 31, 2023, the Company acquired 14 towers and related assets and liabilities consisting of $ 1.6 million of property and equipment, net, $ 8.9 million of intangible assets, net, $ 1.0 million of operating lease right of use assets, net, $ 0.8 million of acquired and other right-of-use assets, net, $ 0.1 million of acquisition related holdbacks, $ 0.5 million of long-term lease liabilities, and $ 1.1 million of other net assets assumed. In the three months ended March 31, 2023 , the Company concluded that for all of its acquisitions substantially all of the value of its tower acquisition is concentrated in a group of similar identifiable assets . Additionally, subsequent to March 31, 2023, the Company purchased or is under contract to purchase 66 communication sites for an aggregate consideration of $ 63.7 million in cash. The Company anticipates that these acquisitions will be consummated by the end of the fourth quarter of 2023. The maximum potential obligation related to contingent consideration for acquisitions was $ 9.9 million and $ 10.1 million as of March 31, 2023 and December 31, 2022, respectively. No such amounts have been recorded on the Company’s Consolidated Balance Sheets.

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
	Mar. 31, 2023
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, 2023 December 31, 2022 (in thousands) Towers and related assets (1) $ 5,705,778 $ 5,650,902 Construction-in-process (2) 83,839 77,564 Furniture, equipment, and vehicles 67,501 67,403 Land, buildings, and improvements 896,728 889,293 Total property and equipment 6,753,846 6,685,162 Less: accumulated depreciation ( 4,044,062 ) ( 3,971,435 ) Property and equipment, net $ 2,709,784 $ 2,713,727 (1) Includes amounts related to the Company’s 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 $ 69.4 million and $ 68.1 million for the three months ended March 31, 2023 and 2022, respectively. At March 31, 2023 and December 31, 2022, unpaid capital expenditures that are included in accounts payable and accrued expenses were $ 8.8 million and $ 7.5 million, respectively.

Intangible Assets, Net

Intangible Assets, Net	3 Months Ended
	Mar. 31, 2023
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, 2023 As of December 31, 2022 Gross carrying Accumulated Net book Gross carrying Accumulated Net book amount amortization value amount amortization value (in thousands) Current contract intangibles $ 5,197,602 $ ( 3,151,097 ) $ 2,046,505 $ 5,170,187 $ ( 3,060,494 ) $ 2,109,693 Network location intangibles 1,902,092 ( 1,254,714 ) 647,378 1,893,048 ( 1,226,269 ) 666,779 Intangible assets, net $ 7,099,694 $ ( 4,405,811 ) $ 2,693,883 $ 7,063,235 $ ( 4,286,763 ) $ 2,776,472 All intangible assets noted above are included in the Company’s site leasing segment. Amortization expense relating to the intangible assets above was $ 101.8 million and $ 100.6 million for the three months ended March 31, 2023 and 2022, respectively.

Accrued Expenses

Accrued Expenses	3 Months Ended
	Mar. 31, 2023
Accrued Expenses [Abstract]
Accrued Expenses	9. ACCRUED EXPENSES The Company’s accrued expenses are comprised of the following: As of As of March 31, 2023 December 31, 2022 (in thousands) Salaries and benefits $ 14,840 $ 27,727 Real estate and property taxes 8,112 8,422 Unpaid capital expenditures 8,762 7,476 Acquisition related holdbacks 25,622 25,681 Other 35,461 32,178 Total accrued expenses $ 92,797 $ 101,484

Debt

Debt	3 Months Ended
	Mar. 31, 2023
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, 2023 December 31, 2022 Maturity Date Principal Balance Fair Value Carrying Value Principal Balance Fair Value Carrying Value Revolving Credit Facility Jul. 7, 2026 $ 675,000 $ 675,000 $ 675,000 $ 720,000 $ 720,000 $ 720,000 2018 Term Loan Apr. 11, 2025 2,286,000 2,286,000 2,278,817 2,292,000 2,280,540 2,284,007 2014-2C Tower Securities (1) Oct. 8, 2024 620,000 604,612 618,357 620,000 598,480 618,099 2019-1C Tower Securities (1) Jan. 12, 2025 1,165,000 1,110,828 1,160,474 1,165,000 1,095,776 1,159,860 2020-1C Tower Securities (1) Jan. 9, 2026 750,000 678,660 745,841 750,000 665,633 745,480 2020-2C Tower Securities (1) Jan. 11, 2028 600,000 519,390 595,793 600,000 506,574 595,586 2021-1C Tower Securities (1) Nov. 9, 2026 1,165,000 1,014,550 1,156,304 1,165,000 991,705 1,155,724 2021-2C Tower Securities (1) Apr. 9, 2027 895,000 774,265 887,867 895,000 756,302 887,443 2021-3C Tower Securities (1) Oct. 9, 2031 895,000 709,565 886,711 895,000 686,134 886,495 2022-1C Tower Securities (1) Jan. 11, 2028 850,000 868,488 840,091 850,000 855,899 840,053 2020 Senior Notes Feb. 15, 2027 1,500,000 1,406,595 1,487,739 1,500,000 1,375,815 1,487,013 2021 Senior Notes Feb. 1, 2029 1,500,000 1,248,750 1,488,834 1,500,000 1,286,250 1,488,402 Total debt $ 12,901,000 $ 11,896,703 $ 12,821,828 $ 12,952,000 $ 11,819,108 $ 12,868,162 Less: current maturities of long-term debt ( 24,000 ) ( 24,000 ) Total long-term debt, net of current maturities $ 12,797,828 $ 12,844,162 (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 2023 2022 March 31, Cash Non-cash Cash Non-cash 2023 Interest Interest Interest Interest (in thousands) Revolving Credit Facility 6.037 % $ 9,286 $ — $ 2,279 $ — 2018 Term Loan (1) 2.569 % 14,363 9,223 10,910 11,438 2014-2C Tower Securities 3.869 % 6,046 — 6,046 — 2018-1C Tower Securities 3.448 % — — 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 — 4,846 — 2021-2C Tower Securities 1.840 % 4,196 — 4,196 — 2021-3C Tower Securities 2.593 % 5,873 — 5,873 — 2022-1C Tower Securities 6.599 % 14,093 — — — 2020 Senior Notes 3.875 % 14,531 88 14,531 88 2021 Senior Notes 3.125 % 11,719 — 11,719 — Other 778 4,928 787 — Total $ 101,226 $ 14,239 $ 82,252 $ 11,526 (1) The 2018 Term Loan has a blended rate of 2.569 %, 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 6.600 % as of March 31, 2023. Refer to Note 17 for more information on the Company’s interest rate swap. Revolving Credit Facility under the Senior Credit Agreement The key terms of the Revolving Credit Facility are as follows: Unused Financial Covenant Interest Rate Commitment Compliance as of Fee as of Status as of March 31, 2023 (1) March 31, 2023 (2) March 31, 2023 Revolving Credit Facility 6.037 % 0.140 % In Compliance (1) The rate reflected includes a 0.050 % reduction in the applicable spread as a result of meeting certain sustainability-linked targets as of December 31, 2022. (2) The rate reflected includes a 0.010 % reduction in the applicable commitment fee as a result of meeting certain sustainability-linked targets as of December 31, 2022. The table below summarizes the Company’s Revolving Credit Facility activity during the three months ended March 31, 2023 and 2022 (in thousands): For the three months ended March 31, 2023 2022 Beginning outstanding balance $ 720,000 $ 350,000 Borrowings 140,000 330,000 Repayments ( 185,000 ) — Ending outstanding balance $ 675,000 $ 680,000 Subsequent to March 31, 2023, the Company repaid $ 80.0 million under the Revolving Credit Facility, and as of the date of this filing, $ 595.0 million was outstanding. Term Loan under the Senior Credit Agreement During the three months ended March 31, 2023, the Company repaid an aggregate of $ 6.0 million of principal on the 2018 Term Loan. As of March 31, 2023, the 2018 Term Loan had a principal balance of $ 2.3 billion. Secured Tower Revenue Securities As of March 31, 2023, 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, 2023
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 $ 1.0 billion stock repurchase plan, replacing the prior plan. 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, 2023 2022 Total number of shares purchased (in millions) (1) — 1.3 Average price paid per share (1) $ — $ 332.00 Total price paid (in millions) (1) $ — $ 431.6 (1) Amounts reflected are based on the trade date and 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, 2023, the Company paid the following cash dividends: Payable to Shareholders of Record at the Close Cash Paid Aggregate Amount Date Declared of Business on Per Share Paid Date Paid February 20, 2023 March 10, 2023 $ 0.85 $ 93.9 million March 24, 2023 Dividends paid in 2023 were ordinary taxable dividends. Subsequent to March 31, 2023, 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 30, 2023 May 26, 2023 $ 0.85 June 21, 2023

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
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. 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. There were no options granted during the three months ended March 31, 2023. The following table summarizes the Company’s activities with respect to its stock option plans for the three months ended March 31, 2023 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, 2022 1,673 $ 161.02 Exercised ( 112 ) $ 107.43 Forfeited/canceled ( 1 ) $ 217.40 Outstanding at March 31, 2023 1,560 $ 164.84 2.3 $ 150,596 Exercisable at March 31, 2023 1,543 $ 163.68 2.2 $ 150,375 Unvested at March 31, 2023 17 $ 282.56 7.2 $ 221 The total intrinsic value for options exercised during the three months ended March 31, 2023 was $ 19.0 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, 2023: 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, 2022 222 $ 280.66 429 $ 332.18 Granted 163 $ 256.19 95 $ 263.53 PSU adjustment (2) — $ — 65 $ 302.96 Vested ( 111 ) $ 262.07 ( 207 ) $ 345.08 Forfeited/canceled ( 7 ) $ 281.10 ( 13 ) $ 295.77 Outstanding at March 31, 2023 267 $ 273.43 369 $ 298.88 (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. (2) PSU adjustment represents the net PSUs awarded above or below their target grants resulting from the achievement of performance targets established at the grant date.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2023
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 a full valuation allowance is appropriate for the current period. 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 $ 545.2 million as of December 31, 2022, 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 . The Company is subject to income tax and other taxes in the geographic areas where it holds assets or operates, and the Company periodically receives notifications of audits, assessments, or other actions by taxing authorities. In certain jurisdictions, taxing authorities may issue notices and assessments that may not be reflective of the actual tax liability for which the Company will ultimately be liable. In the process of responding to assessments of taxes that the Company believes are not reflective of the Company’s actual tax liability, the Company avails itself of both administrative and judicial remedies. The Company evaluates the circumstances of each notification or assessment based on the information available and, in those instances in which the Company does not anticipate a successful defense of positions taken in its tax filings, a liability is recorded in the appropriate amount based on the underlying assessment. In connection with a current assessment in Brazil, the taxing authorities have issued income tax deficiencies related to purchase accounting adjustments for tax years 2016 through 2019 . The Company strongly disagrees with the assessment and have filed an appeal with the higher appellate taxing authorities as the Company believes the proposed adjustments are without merit. The Company estimates that there is a more likely than not probability that the Company’s position will be sustained upon appeal. Accordingly, no liability has been recorded. The Company will continue to vigorously contest the adjustments and expect to exhaust all administrative and judicial remedies necessary to resolve the matters, which could be a lengthy process. There can be no assurance that these matters will be resolved in the Company’s favor, and an adverse outcome, or any future tax examinations involving similar assertions, could have a material effect on the Company’s results of operations or cash flows in any one period. As of March 31, 2023, the Company estimates the aggregate range of reasonably possible losses in excess of amounts accrued to be between zero and $ 93.1 million (excluding penalties and interest, which as of such date would have been $ 86.9 million) .

Segment Data

Segment Data	3 Months Ended
	Mar. 31, 2023
Segment Data [Abstract]
Segment Data	14. SEGMENT DATA The Company operates principally in two business segments: site leasing and site development. The Company’s site leasing business includes two reportable segments, domestic site leasing and international site leasing. The Company’s business segments are strategic business units that offer different services. They are managed separately based on the fundamental differences in their operations. The site leasing segment includes results of the managed and sublease businesses. The site development segment includes the results of both consulting and construction related activities. The Company’s Chief Operating Decision Maker utilizes segment operating profit and operating income as his two measures of segment profit in assessing performance and allocating resources at the reportable segment level. The Company has applied the aggregation criteria to operations within the international site leasing segment on a basis that is consistent with management’s review of information and performance evaluations of the individual markets in this region. Revenues, cost of revenues (exclusive of depreciation, accretion and amortization), capital expenditures (including assets acquired through the issuance of shares of the Company’s Class A common stock) and identifiable assets pertaining to the segments in which the Company continues to operate are presented below. Domestic Site Int'l Site Site Leasing Leasing Development Other Total For the three months ended March 31, 2023 (in thousands) Revenues (1) $ 454,833 $ 162,435 $ 58,248 $ — $ 675,516 Cost of revenues (2) 69,750 50,369 44,185 — 164,304 Operating profit 385,083 112,066 14,063 — 511,212 Selling, general, and administrative expenses 31,743 16,730 6,077 17,659 72,209 Acquisition and new business initiatives related adjustments and expenses 3,232 2,825 — — 6,057 Asset impairment and decommission costs 19,435 4,886 — 2,069 26,390 Depreciation, amortization and accretion 119,487 60,412 916 1,600 182,415 Operating income (loss) 211,186 27,213 7,070 ( 21,328 ) 224,141 Other expense, net (principally interest expense and other income) ( 80,079 ) ( 80,079 ) Income before income taxes 144,062 Cash capital expenditures (3) 44,636 23,033 395 1,256 69,320 For the three months ended March 31, 2022 Revenues (1) $ 432,986 $ 126,446 $ 60,338 $ — $ 619,770 Cost of revenues (2) 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 income, net (principally interest expense and other income) 12,004 12,004 Income before income taxes 228,783 Cash capital expenditures (3) 39,545 211,771 966 1,581 253,863 Domestic Site Int'l Site Site Leasing Leasing Development Other (4) Total Assets (in thousands) As of March 31, 2023 $ 6,186,249 $ 3,855,779 $ 127,215 $ 372,286 $ 10,541,529 As of December 31, 2022 $ 6,308,204 $ 3,808,699 $ 158,137 $ 310,001 $ 10,585,041 (1) For the three months ended March 31, 2023 and 2022, site leasing revenue in Brazil was $ 93.8 million and $ 65.2 million, respectively. Other than Brazil, no foreign country represented more than 5 % of the Company’s total revenues in any of the periods presented. (2) Excludes depreciation, amortization, and accretion. (3) Includes cash paid for capital expenditures, acquisitions, and right-of-use assets. (4) Assets in Other consist primarily of general corporate assets and short-term investments. Total domestic long-lived assets were $ 5.8 billion and $ 5.9 billion as of March 31, 2023 and December 31, 2022, respectively. Total international long-lived assets were $ 3.5 billion as of March 31, 2023 and December 31, 2022. Total long-lived assets in Brazil were $ 2.1 billion and $ 2.0 billion as of March 31, 2023 and December 31, 2022, respectively. Long-lived assets include property and equipment, net, intangible assets, net, operating lease right-of-use assets, net, and acquired and other right-of-use assets, net. Other than Brazil, no foreign country represented more than 5 % of the Company’s total long-lived assets in any of the periods presented.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	15. EARNINGS PER SHARE B asic earnings per share was computed by dividing net income attributable to SBA Communications Corporation by the weighted-average number of shares of Class A common stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income attributable to SBA Communications Corporation by the weighted-average number of shares of Class A common stock outstanding adjusted for any dilutive Class A 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 per common share attributable to common shareholders for the three months ended March 31, 2023 and 2022 (in thousands, except per share data): For the three months ended March 31, 2023 2022 Numerator: Net income attributable to SBA Communications Corporation $ 101,217 $ 188,623 Denominator: Basic weighted-average shares outstanding 108,132 108,086 Dilutive impact of stock options, RSUs, and PSUs 1,139 1,458 Diluted weighted-average shares outstanding 109,271 109,544 Net income per common share attributable to SBA Communications Corporation: Basic $ 0.94 $ 1.75 Diluted $ 0.93 $ 1.72 For the three months ended March 31, 2023 and 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.

Redeemable Noncontrolling Inter

Redeemable Noncontrolling Interests	3 Months Ended
	Mar. 31, 2023
Redeemable Noncontrolling Interests [Abstract]
Redeemable Noncontrolling Interests	16. REDEEMABLE NONCONTROLLING INTERESTS The Company allocates income and losses to its redeemable noncontrolling interest holders 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 fair value of the redeemable noncontrolling interest is estimated using Level 3 inputs. The components of redeemable noncontrolling interests as of March 31, 2023 and December 31, 2022 are as follows (in thousands): March 31, December 31, 2023 2022 Beginning balance $ 31,735 $ 17,250 Net loss attributable to noncontrolling interests ( 663 ) ( 1,630 ) Foreign currency translation adjustments — ( 204 ) Adjustment to redemption amount 7,112 16,319 Ending balance $ 38,184 $ 31,735

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2023
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, 2023, the hedge remains highly effective; therefore, changes in fair value are recorded in Accumulated other comprehensive loss, net. As of March 31, 2023 and December 31, 2022, the interest rate swap had a fair value of $ 151.5 million and $ 182.9 million, respectively, and is recorded in Other assets on the Consolidated Balance Sheets. On August 4, 2020, the Company also terminated its existing interest rate swaps, which were previously de-designated as cash flow hedges. There was no cash transferred in connection with the termination of these swaps. The Company reclassifies the fair value of its interest rate swaps recorded in Accumulated other comprehensive loss, net on their de-designation date to non-cash interest expense on the Consolidated Statements of Operations over their respective remaining term end dates, which range from 2023 to 2025 . Accumulated other comprehensive loss, net includes an aggregate $ 97.2 million gain and a $ 119.6 million gain as of March 31, 2023 and December 31, 2022, 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 except for 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, 2023 and 2022. For the three months ended March 31, 2023 2022 Cash Flow Hedge - Interest Rate Swap Agreement (in thousands) Change in fair value recorded in Accumulated other comprehensive loss, net $ ( 31,396 ) $ 74,101 Derivatives Not Designated as Hedges - Interest Rate Swap Agreements Amount reclassified from Accumulated other comprehensive loss, net into Non-cash interest expense $ 9,007 $ 11,221

Basis of Presentation (Policy)

Basis of Presentation (Policy)	3 Months Ended
	Mar. 31, 2023
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, 2022 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 and deferrals) 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, 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, net in the Consolidated Statements of Operations as settlement is anticipated or planned in the foreseeable future. The Company recorded a $ 27.4 million gain and a $ 72.9 million gain, net of taxes, on the remeasurement of intercompany loans for the three months ended March 31, 2023 and 2022, respectively, due to changes in foreign exchange rates. During the three months ended March 31, 2023, the Company repaid $ 45.8 million under its intercompany loan agreements. As of March 31, 2023 and December 31, 2022, the aggregate amount outstanding under the intercompany loan agreements subject to remeasurement with the Company’s foreign subsidiaries was $ 1.5 billion.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Measurements [Abstract]
Summary of Asset Impairment and Decommission Costs	: For the three months ended March 31, 2023 2022 (in thousands) Asset impairment (1) $ 22,332 $ 7,790 Write-off of carrying value of decommissioned towers 1,954 590 Other (including third party decommission costs) 2,104 132 Total asset impairment and decommission costs $ 26,390 $ 8,512 (1) Represents impairment charges resulting from the Company’s regular analysis of whether the anticipated future cash flows from certain towers are sufficient to recover the carrying value of the investment in those towers . As a result of increased churn from Sprint, the Company experienced increased asset impairment charges for the three months ended March 31, 2023.

Cash, Cash Equivalents, and R_2

Cash, Cash Equivalents, and Restricted Cash (Tables)	3 Months Ended
	Mar. 31, 2023
Cash, Cash Equivalents, and Restricted Cash [Abstract]
Schedule of Cash, Cash Equivalents and Restricted Cash	As of As of March 31, 2023 December 31, 2022 Included on Balance Sheet (in thousands) Cash and cash equivalents $ 152,772 $ 143,708 Cash and cash equivalents Securitization escrow accounts 30,616 35,820 Restricted cash - current asset Payment, performance bonds, and other 5,999 6,139 Restricted cash - current asset Surety bonds and workers compensation 3,795 3,616 Other assets - noncurrent Total cash, cash equivalents, and restricted cash $ 193,182 $ 189,283

Costs and Estimated Earnings _2

Costs and Estimated Earnings on Uncompleted Contracts (Tables)	3 Months Ended
	Mar. 31, 2023
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Summary of Costs and Estimated Earnings on Uncompleted Contracts	As of As of March 31, 2023 December 31, 2022 (in thousands) Costs incurred on uncompleted contracts $ 152,600 $ 137,736 Estimated earnings 79,772 51,287 Billings to date ( 183,567 ) ( 134,665 ) $ 48,805 $ 54,358
Costs and Estimated Earnings on Uncompleted Contracts Accompanying Consolidated Balance Sheets	As of As of March 31, 2023 December 31, 2022 (in thousands) Costs and estimated earnings in excess of billings on uncompleted contracts $ 58,815 $ 79,549 Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities) ( 10,010 ) ( 25,191 ) $ 48,805 $ 54,358

Prepaid Expenses and Other Cu_2

Prepaid Expenses and Other Current Assets and Other Assets (Tables)	3 Months Ended
	Mar. 31, 2023
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Schedule of Prepaid Expense and Other Current Assets	As of As of March 31, 2023 December 31, 2022 (in thousands) Short-term investments $ 1,864 $ 1,331 Prepaid real estate taxes 3,594 3,333 Prepaid taxes 10,500 10,639 Other current assets 24,256 17,846 Total prepaid expenses and other current assets $ 40,214 $ 33,149
Schedule of Other Assets	As of As of March 31, 2023 December 31, 2022 (in thousands) Straight-line rent receivable $ 396,617 $ 388,638 Interest rate swap asset (1) 151,464 182,860 Loans receivable (2) 117,880 39,922 Deferred lease costs, net 8,509 7,747 Deferred tax asset - long term 11,736 16,173 Long-term investments 37,068 40,696 Other 47,781 46,337 Total other assets $ 771,055 $ 722,373 (1) Refer to Note 17 for more information on the Company’s interest rate swaps. (2) On March 17, 2023, the Company entered into a loan with one of its unconsolidated joint ventures (“the Investee”). As part of the loan agreement, the Investee may borrow up to $ 120.0 million in aggregate principal amount, consisting of a $ 73.0 million initial term loan and $ 47.0 million of delayed draw term loans. The final maturity date of the loans is November 30, 2024. The loans accrue interest at a variable rate, adjusting monthly, plus the applicable margin. Interest on the loans is received monthly. The funding of the loans is recorded in Other investing activities on the Consolidated Statements of Cash Flows. As of March 31, 2023, the outstanding principal balance of the loan was $ 78.0 million and was accruing interest at 9.49 %.

Acquisitions (Tables)

Acquisitions (Tables)	3 Months Ended
	Mar. 31, 2023
Acquisitions [Abstract]
Schedule of Acquisition Capital Expenditures	For the three months ended March 31, 2023 2022 (in thousands) Acquisitions of towers and related intangible assets (1) $ 11,471 $ 207,863 Acquisition of right-of-use assets 1,309 — Land buyouts and other assets (2) 7,149 7,318 Total cash acquisition capital expenditures $ 19,929 $ 215,181 (1) The three months ended March 31, 2022 includes $ 176.1 million of acquisitions related to the Company’s purchase of sites from Airtel Tanzania. (2) Excludes $ 5.1 million and $ 3.8 million spent to extend ground lease terms for the three months ended March 31, 2023 and 2022, respectively. The Company recorded these amounts in prepaid rent within prepaid and other current assets on its Consolidated Balance Sheets.

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
	Mar. 31, 2023
Property and Equipment, Net [Abstract]
Property and Equipment, Net (Including Assets Held Under Capital Leases)	As of As of March 31, 2023 December 31, 2022 (in thousands) Towers and related assets (1) $ 5,705,778 $ 5,650,902 Construction-in-process (2) 83,839 77,564 Furniture, equipment, and vehicles 67,501 67,403 Land, buildings, and improvements 896,728 889,293 Total property and equipment 6,753,846 6,685,162 Less: accumulated depreciation ( 4,044,062 ) ( 3,971,435 ) Property and equipment, net $ 2,709,784 $ 2,713,727 (1) Includes amounts related to the Company’s 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, 2023
Intangible Assets, Net [Abstract]
Gross and Net Carrying Amounts for each Major Class of Intangible Assets	As of March 31, 2023 As of December 31, 2022 Gross carrying Accumulated Net book Gross carrying Accumulated Net book amount amortization value amount amortization value (in thousands) Current contract intangibles $ 5,197,602 $ ( 3,151,097 ) $ 2,046,505 $ 5,170,187 $ ( 3,060,494 ) $ 2,109,693 Network location intangibles 1,902,092 ( 1,254,714 ) 647,378 1,893,048 ( 1,226,269 ) 666,779 Intangible assets, net $ 7,099,694 $ ( 4,405,811 ) $ 2,693,883 $ 7,063,235 $ ( 4,286,763 ) $ 2,776,472

Accrued Expenses (Tables)

Accrued Expenses (Tables)	3 Months Ended
	Mar. 31, 2023
Accrued Expenses [Abstract]
Schedule of Accrued Expenses	As of As of March 31, 2023 December 31, 2022 (in thousands) Salaries and benefits $ 14,840 $ 27,727 Real estate and property taxes 8,112 8,422 Unpaid capital expenditures 8,762 7,476 Acquisition related holdbacks 25,622 25,681 Other 35,461 32,178 Total accrued expenses $ 92,797 $ 101,484

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2023
Debt [Abstract]
Schedule of Principal Values, Fair Values, and Carrying Values of Debt	As of As of March 31, 2023 December 31, 2022 Maturity Date Principal Balance Fair Value Carrying Value Principal Balance Fair Value Carrying Value Revolving Credit Facility Jul. 7, 2026 $ 675,000 $ 675,000 $ 675,000 $ 720,000 $ 720,000 $ 720,000 2018 Term Loan Apr. 11, 2025 2,286,000 2,286,000 2,278,817 2,292,000 2,280,540 2,284,007 2014-2C Tower Securities (1) Oct. 8, 2024 620,000 604,612 618,357 620,000 598,480 618,099 2019-1C Tower Securities (1) Jan. 12, 2025 1,165,000 1,110,828 1,160,474 1,165,000 1,095,776 1,159,860 2020-1C Tower Securities (1) Jan. 9, 2026 750,000 678,660 745,841 750,000 665,633 745,480 2020-2C Tower Securities (1) Jan. 11, 2028 600,000 519,390 595,793 600,000 506,574 595,586 2021-1C Tower Securities (1) Nov. 9, 2026 1,165,000 1,014,550 1,156,304 1,165,000 991,705 1,155,724 2021-2C Tower Securities (1) Apr. 9, 2027 895,000 774,265 887,867 895,000 756,302 887,443 2021-3C Tower Securities (1) Oct. 9, 2031 895,000 709,565 886,711 895,000 686,134 886,495 2022-1C Tower Securities (1) Jan. 11, 2028 850,000 868,488 840,091 850,000 855,899 840,053 2020 Senior Notes Feb. 15, 2027 1,500,000 1,406,595 1,487,739 1,500,000 1,375,815 1,487,013 2021 Senior Notes Feb. 1, 2029 1,500,000 1,248,750 1,488,834 1,500,000 1,286,250 1,488,402 Total debt $ 12,901,000 $ 11,896,703 $ 12,821,828 $ 12,952,000 $ 11,819,108 $ 12,868,162 Less: current maturities of long-term debt ( 24,000 ) ( 24,000 ) Total long-term debt, net of current maturities $ 12,797,828 $ 12,844,162 (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 2023 2022 March 31, Cash Non-cash Cash Non-cash 2023 Interest Interest Interest Interest (in thousands) Revolving Credit Facility 6.037 % $ 9,286 $ — $ 2,279 $ — 2018 Term Loan (1) 2.569 % 14,363 9,223 10,910 11,438 2014-2C Tower Securities 3.869 % 6,046 — 6,046 — 2018-1C Tower Securities 3.448 % — — 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 — 4,846 — 2021-2C Tower Securities 1.840 % 4,196 — 4,196 — 2021-3C Tower Securities 2.593 % 5,873 — 5,873 — 2022-1C Tower Securities 6.599 % 14,093 — — — 2020 Senior Notes 3.875 % 14,531 88 14,531 88 2021 Senior Notes 3.125 % 11,719 — 11,719 — Other 778 4,928 787 — Total $ 101,226 $ 14,239 $ 82,252 $ 11,526 (1) The 2018 Term Loan has a blended rate of 2.569 %, 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 6.600 % as of March 31, 2023. Refer to Note 17 for more information on the Company’s interest rate swap.
Schedule of Revolving Credit Facility Key Terms	Unused Financial Covenant Interest Rate Commitment Compliance as of Fee as of Status as of March 31, 2023 (1) March 31, 2023 (2) March 31, 2023 Revolving Credit Facility 6.037 % 0.140 % In Compliance (1) The rate reflected includes a 0.050 % reduction in the applicable spread as a result of meeting certain sustainability-linked targets as of December 31, 2022. (2) The rate reflected includes a 0.010 % reduction in the applicable commitment fee as a result of meeting certain sustainability-linked targets as of December 31, 2022.
Summary of Revolving Credit Facility Activity	For the three months ended March 31, 2023 2022 Beginning outstanding balance $ 720,000 $ 350,000 Borrowings 140,000 330,000 Repayments ( 185,000 ) — Ending outstanding balance $ 675,000 $ 680,000

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 Total number of shares purchased (in millions) (1) — 1.3 Average price paid per share (1) $ — $ 332.00 Total price paid (in millions) (1) $ — $ 431.6 (1) Amounts reflected are based on the trade date and 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, 2023, the Company paid the following cash dividends: Payable to Shareholders of Record at the Close Cash Paid Aggregate Amount Date Declared of Business on Per Share Paid Date Paid February 20, 2023 March 10, 2023 $ 0.85 $ 93.9 million March 24, 2023 Dividends paid in 2023 were ordinary taxable dividends. Subsequent to March 31, 2023, 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 30, 2023 May 26, 2023 $ 0.85 June 21, 2023

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Stock-Based Compensation [Abstract]
Summary of Stock Option Activity	Weighted- Weighted-Average Average Remaining Number Exercise Price Contractual Aggregate of Shares Per Share Life (in years) Intrinsic Value Outstanding at December 31, 2022 1,673 $ 161.02 Exercised ( 112 ) $ 107.43 Forfeited/canceled ( 1 ) $ 217.40 Outstanding at March 31, 2023 1,560 $ 164.84 2.3 $ 150,596 Exercisable at March 31, 2023 1,543 $ 163.68 2.2 $ 150,375 Unvested at March 31, 2023 17 $ 282.56 7.2 $ 221
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, 2022 222 $ 280.66 429 $ 332.18 Granted 163 $ 256.19 95 $ 263.53 PSU adjustment (2) — $ — 65 $ 302.96 Vested ( 111 ) $ 262.07 ( 207 ) $ 345.08 Forfeited/canceled ( 7 ) $ 281.10 ( 13 ) $ 295.77 Outstanding at March 31, 2023 267 $ 273.43 369 $ 298.88 (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. (2) PSU adjustment represents the net PSUs awarded above or below their target grants resulting from the achievement of performance targets established at the grant date.

Segment Data (Tables)

Segment Data (Tables)	3 Months Ended
	Mar. 31, 2023
Segment Data [Abstract]
Schedule of Segment Reporting Information	Domestic Site Int'l Site Site Leasing Leasing Development Other Total For the three months ended March 31, 2023 (in thousands) Revenues (1) $ 454,833 $ 162,435 $ 58,248 $ — $ 675,516 Cost of revenues (2) 69,750 50,369 44,185 — 164,304 Operating profit 385,083 112,066 14,063 — 511,212 Selling, general, and administrative expenses 31,743 16,730 6,077 17,659 72,209 Acquisition and new business initiatives related adjustments and expenses 3,232 2,825 — — 6,057 Asset impairment and decommission costs 19,435 4,886 — 2,069 26,390 Depreciation, amortization and accretion 119,487 60,412 916 1,600 182,415 Operating income (loss) 211,186 27,213 7,070 ( 21,328 ) 224,141 Other expense, net (principally interest expense and other income) ( 80,079 ) ( 80,079 ) Income before income taxes 144,062 Cash capital expenditures (3) 44,636 23,033 395 1,256 69,320 For the three months ended March 31, 2022 Revenues (1) $ 432,986 $ 126,446 $ 60,338 $ — $ 619,770 Cost of revenues (2) 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 income, net (principally interest expense and other income) 12,004 12,004 Income before income taxes 228,783 Cash capital expenditures (3) 39,545 211,771 966 1,581 253,863 Domestic Site Int'l Site Site Leasing Leasing Development Other (4) Total Assets (in thousands) As of March 31, 2023 $ 6,186,249 $ 3,855,779 $ 127,215 $ 372,286 $ 10,541,529 As of December 31, 2022 $ 6,308,204 $ 3,808,699 $ 158,137 $ 310,001 $ 10,585,041 (1) For the three months ended March 31, 2023 and 2022, site leasing revenue in Brazil was $ 93.8 million and $ 65.2 million, respectively. Other than Brazil, no foreign country represented more than 5 % of the Company’s total revenues in any of the periods presented. (2) Excludes depreciation, amortization, and accretion. (3) Includes cash paid for capital expenditures, acquisitions, and right-of-use assets. (4) Assets in Other consist primarily of general corporate assets and short-term investments.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
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, 2023 2022 Numerator: Net income attributable to SBA Communications Corporation $ 101,217 $ 188,623 Denominator: Basic weighted-average shares outstanding 108,132 108,086 Dilutive impact of stock options, RSUs, and PSUs 1,139 1,458 Diluted weighted-average shares outstanding 109,271 109,544 Net income per common share attributable to SBA Communications Corporation: Basic $ 0.94 $ 1.75 Diluted $ 0.93 $ 1.72

Redeemable Noncontrolling Int_2

Redeemable Noncontrolling Interests (Tables)	3 Months Ended
	Mar. 31, 2023
Redeemable Noncontrolling Interests [Abstract]
Components of Redeemable Noncontrolling Interest	March 31, December 31, 2023 2022 Beginning balance $ 31,735 $ 17,250 Net loss attributable to noncontrolling interests ( 663 ) ( 1,630 ) Foreign currency translation adjustments — ( 204 ) Adjustment to redemption amount 7,112 16,319 Ending balance $ 38,184 $ 31,735

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2023
Derivatives and Hedging Activities [Abstract]
Schedule of Effect of Derivatives on the Consolidated Statements of Operations	For the three months ended March 31, 2023 2022 Cash Flow Hedge - Interest Rate Swap Agreement (in thousands) Change in fair value recorded in Accumulated other comprehensive loss, net $ ( 31,396 ) $ 74,101 Derivatives Not Designated as Hedges - Interest Rate Swap Agreements Amount reclassified from Accumulated other comprehensive loss, net into Non-cash interest expense $ 9,007 $ 11,221

Basis of Presentation (Narrativ

Basis of Presentation (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Basis of Presentation [Abstract]
Gain on remeasurement of U.S. dollar denominated intercompany loan	$ 27.4	$ 72.9
Repayment of debt	45.8
Intercompany foreign currency outstanding balance	$ 1,500

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) item	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-term investments	$ 37,068		$ 40,696
Short-term investments	1,864		$ 1,331
Purchase of short-term investments	213,300	$ 30,200
Proceeds from sale of short-term investments	$ 213,000	$ 30,200
Minimum [Member] | Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Average discount rate | item	7.2
Maximum [Member] | Measurement Input, Discount Rate [Member] | Valuation Technique, Discounted Cash Flow [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Average discount rate | item	8.7
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, 2023	Mar. 31, 2022
Fair Value Measurements [Abstract]
Asset impairment	$ 22,332	$ 7,790
Write-off of carrying value of decommissioned towers	1,954	590
Other (including third party decommission costs)	2,104	132
Total asset impairment and decommission costs	$ 26,390	$ 8,512

Cash, Cash Equivalents, and R_3

Cash, Cash Equivalents, and Restricted Cash (Narrative) (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Restricted Cash And Cash Equivalents Items [Line Items]
Surety, payment and performance bonds	$ 41,500,000	$ 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
Payment and Performance Bonds [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Collateral	$ 5,800,000	$ 6,000,000

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, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Restricted Cash And Cash Equivalents Items [Line Items]
Cash and cash equivalents	$ 152,772	$ 143,708
Restricted cash - current asset	36,615	41,959
Total cash, cash equivalents, and restricted cash	193,182	189,283	$ 336,438	$ 435,626
Securitization Escrow Accounts [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - current asset	30,616	35,820
Payment, Performance Bonds, and Other [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - current asset	5,999	6,139
Surety Bonds and Workers Compensation [Member]
Restricted Cash And Cash Equivalents Items [Line Items]
Restricted cash - noncurrent asset	$ 3,795	$ 3,616
Restricted Cash and Cash Equivalents, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Other Assets Noncurrent	Other Assets Noncurrent

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, 2023	Dec. 31, 2022
Concentration Risk [Line Items]
Number of significant customers	2	2
Eight Largest Customers [Member]
Concentration Risk [Line Items]
Concentration risk percentage	95%	96.70%

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, 2023	Dec. 31, 2022
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Costs incurred on uncompleted contracts	$ 152,600	$ 137,736
Estimated earnings	79,772	51,287
Billings to date	(183,567)	(134,665)
Costs and estimated earnings on uncompleted contracts	$ 48,805	$ 54,358

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, 2023	Dec. 31, 2022
Costs and Estimated Earnings on Uncompleted Contracts [Abstract]
Costs and estimated earnings in excess of billings on uncompleted contracts	$ 58,815	$ 79,549
Billings in excess of costs and estimated earnings on uncompleted contracts (included in Other current liabilities)	(10,010)	(25,191)
Costs and estimated earnings on uncompleted contracts	$ 48,805	$ 54,358

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, 2023	Dec. 31, 2022
Prepaid Expenses and Other Current Assets and Other Assets [Abstract]
Short-term investments	$ 1,864	$ 1,331
Prepaid real estate taxes	3,594	3,333
Prepaid taxes	10,500	10,639
Other current assets	24,256	17,846
Total prepaid expenses and other current assets	$ 40,214	$ 33,149

Prepaid Expenses and Other Cu_4

Prepaid Expenses and Other Current Assets and Other Assets (Schedule of Other Assets) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 17, 2023	Dec. 31, 2022
Other Assets, Noncurrent [Line Items]
Straight-line rent receivable	$ 396,617		$ 388,638
Interest rate swap asset	$ 151,464		182,860
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Total other assets
Loans receivable	$ 117,880		39,922
Deferred lease costs, net	8,509		7,747
Deferred tax asset - long term	11,736		16,173
Long-term investments	37,068		40,696
Other	47,781		46,337
Total other assets	771,055		$ 722,373
Unconsolidated Joint Venture [Member]
Other Assets, Noncurrent [Line Items]
Loan agreement, maximum borrowing capacity		$ 120,000
Outstanding and accruing interest	$ 78,000
Interest rate	9.49%
Unconsolidated Joint Venture [Member] | Initial Term Loans [Member]
Other Assets, Noncurrent [Line Items]
Loan agreement, maximum borrowing capacity		73,000
Unconsolidated Joint Venture [Member] | Delayed Draw Term Loans [Member]
Other Assets, Noncurrent [Line Items]
Loan agreement, maximum borrowing capacity		$ 47,000

Acquisitions (Narrative) (Detai

Acquisitions (Narrative) (Details) $ in Millions	1 Months Ended	3 Months Ended
	May 08, 2023 USD ($) item	Mar. 31, 2023 USD ($) item	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($)
Business Acquisition [Line Items]
Performance targets, maximum potential obligation		$ 9.9		$ 10.1
Airtel Tanzania [Member]
Business Acquisition [Line Items]
Consideration transferred			$ 176.1
Other Acquisitions [Member]
Business Acquisition [Line Items]
Number of towers acquired | item		14
Property and equipment		$ 1.6
Intangible assets		8.9
Operating leases right-of-use assets, net		1
Acquired and other right-of-use assets, net		0.8
Acquisition related holdbacks		0.1
Long-term lease liabilities assumed		0.5
Other net assets assumed		$ 1.1
Subsequent Event [Member] | Other Acquisitions [Member]
Business Acquisition [Line Items]
Number of communication sites acquired | item	66
Cash paid for acquisition	$ 63.7

Acquisitions (Schedule of Acqui

Acquisitions (Schedule of Acquisition Capital Expenditures) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Business Acquisition [Line Items]
Acquisitions of towers and related intangible assets	$ 11,471	$ 207,863
Acquisition of right-of-use assets	1,309
Land buyouts and other assets	7,149	7,318
Total cash acquisition capital expenditures	19,929	215,181
Ground lease extensions	$ 5,100	3,800
Airtel Tanzania [Member]
Business Acquisition [Line Items]
Consideration transferred		$ 176,100

Property and Equipment, Net (Na

Property and Equipment, Net (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property and Equipment, Net [Abstract]
Depreciation expense	$ 69,400	$ 68,100
Unpaid capital expenditures	$ 8,762		$ 7,476

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, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 6,753,846	$ 6,685,162
Less: accumulated depreciation	(4,044,062)	(3,971,435)
Property and equipment, net	2,709,784	2,713,727
Towers and Related Assets [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	5,705,778	5,650,902
Construction-In-Process [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	83,839	77,564
Furniture, Equipment and Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	67,501	67,403
Land, Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 896,728	$ 889,293

Intangible Assets, Net (Narrati

Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Intangible Assets, Net [Abstract]
Amortization expense	$ 101.8	$ 100.6

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, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 7,099,694	$ 7,063,235
Accumulated amortization	(4,405,811)	(4,286,763)
Net book value	2,693,883	2,776,472
Current Contract Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	5,197,602	5,170,187
Accumulated amortization	(3,151,097)	(3,060,494)
Net book value	2,046,505	2,109,693
Network Location Intangibles [Member]
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,902,092	1,893,048
Accumulated amortization	(1,254,714)	(1,226,269)
Net book value	$ 647,378	$ 666,779

Accrued Expenses (Schedule of A

Accrued Expenses (Schedule of Accrued Expenses) (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Accrued Expenses [Abstract]
Salaries and benefits	$ 14,840	$ 27,727
Real estate and property taxes	8,112	8,422
Unpaid capital expenditures	8,762	7,476
Acquisition related holdbacks	25,622	25,681
Other	35,461	32,178
Total accrued expenses	$ 92,797	$ 101,484

Debt (Revolving Credit Facility

Debt (Revolving Credit Facility under the Senior Credit Agreement) (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	May 08, 2023	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022	Dec. 31, 2021
Line of Credit Facility [Line Items]
Repayments of revolving credit facility		$ 185,000
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Repayments of revolving credit facility		185,000
Line of credit facility, outstanding		$ 675,000	$ 720,000	$ 680,000	$ 350,000
Revolving Credit Facility [Member] | Subsequent Event [Member]
Line of Credit Facility [Line Items]
Repayments of revolving credit facility	$ 80,000
Line of credit facility, outstanding	$ 595,000

Debt (Term Loan under the Senio

Debt (Term Loan under the Senior Credit Agreement) (Narrative) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Aggregate principal balance	$ 12,901,000,000	$ 12,952,000,000
2018 Term Loan [Member]
Debt Instrument [Line Items]
Aggregate principal balance	2,286,000,000	$ 2,292,000,000
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, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal Balance	$ 12,901,000,000	$ 12,952,000,000
Fair Value	11,896,703,000	11,819,108,000
Carrying Value	12,821,828,000	12,868,162,000
Less: current maturities of long-term debt	(24,000,000)	(24,000,000)
Total long-term debt, net of current maturities	$ 12,797,828,000	12,844,162,000
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maturity Date	Jul. 07, 2026
Principal Balance	$ 675,000,000	720,000,000
Fair Value	675,000,000	720,000,000
Carrying Value	$ 675,000,000	720,000,000
2018 Term Loan [Member]
Debt Instrument [Line Items]
Maturity Date	Apr. 11, 2025
Principal Balance	$ 2,286,000,000	2,292,000,000
Fair Value	2,286,000,000	2,280,540,000
Carrying Value	$ 2,278,817,000	2,284,007,000
2014-2C Tower Securities [Member]
Debt Instrument [Line Items]
Maturity Date	Oct. 08, 2024
Principal Balance	$ 620,000,000	620,000,000
Fair Value	604,612,000	598,480,000
Carrying Value	$ 618,357,000	618,099,000
2019-1C Tower Securities [Member]
Debt Instrument [Line Items]
Maturity Date	Jan. 12, 2025
Principal Balance	$ 1,165,000,000	1,165,000,000
Fair Value	1,110,828,000	1,095,776,000
Carrying Value	$ 1,160,474,000	1,159,860,000
2020-1C Tower Securities [Member]
Debt Instrument [Line Items]
Maturity Date	Jan. 09, 2026
Principal Balance	$ 750,000,000	750,000,000
Fair Value	678,660,000	665,633,000
Carrying Value	$ 745,841,000	745,480,000
2020-2C Tower Securities [Member]
Debt Instrument [Line Items]
Maturity Date	Jan. 11, 2028
Principal Balance	$ 600,000,000	600,000,000
Fair Value	519,390,000	506,574,000
Carrying Value	$ 595,793,000	595,586,000
2021-1C Tower Securities [Member]
Debt Instrument [Line Items]
Maturity Date	Nov. 09, 2026
Principal Balance	$ 1,165,000,000	1,165,000,000
Fair Value	1,014,550,000	991,705,000
Carrying Value	$ 1,156,304,000	1,155,724,000
2021-2C Tower Securities [Member]
Debt Instrument [Line Items]
Maturity Date	Apr. 09, 2027
Principal Balance	$ 895,000,000	895,000,000
Fair Value	774,265,000	756,302,000
Carrying Value	$ 887,867,000	887,443,000
2021-3C Tower Securities [Member]
Debt Instrument [Line Items]
Maturity Date	Oct. 09, 2031
Principal Balance	$ 895,000,000	895,000,000
Fair Value	709,565,000	686,134,000
Carrying Value	$ 886,711,000	886,495,000
2022-1C Tower Securities [Member]
Debt Instrument [Line Items]
Maturity Date	Jan. 11, 2028
Principal Balance	$ 850,000,000	850,000,000
Fair Value	868,488,000	855,899,000
Carrying Value	$ 840,091,000	840,053,000
2020 Senior Notes [Member]
Debt Instrument [Line Items]
Maturity Date	Feb. 15, 2027
Principal Balance	$ 1,500,000,000	1,500,000,000
Fair Value	1,406,595,000	1,375,815,000
Carrying Value	$ 1,487,739,000	1,487,013,000
2021 Senior Notes [Member]
Debt Instrument [Line Items]
Maturity Date	Feb. 01, 2029
Principal Balance	$ 1,500,000,000	1,500,000,000
Fair Value	1,248,750,000	1,286,250,000
Carrying Value	$ 1,488,834,000	$ 1,488,402,000

Debt (Schedule of Cash and Non-

Debt (Schedule of Cash and Non-Cash Interest Expense) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Debt Instrument [Line Items]
Cash Interest	$ 101,226	$ 82,252
Non-cash Interest	$ 14,239	11,526
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Interest Rate	6.037%
Cash Interest	$ 9,286	2,279
2018 Term Loan [Member]
Debt Instrument [Line Items]
Interest Rate	2.569%
Cash Interest	$ 14,363	10,910
Non-cash Interest	$ 9,223	11,438
Blended rate	2.569%
Accruing interest rate	6.60%
2014-2C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rate	3.869%
Cash Interest	$ 6,046	6,046
2018-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rate	3.448%
Cash Interest		5,570
2019-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rate	2.836%
Cash Interest	$ 8,357	8,357
2020-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rate	1.884%
Cash Interest	$ 3,598	3,598
2020-2C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rate	2.328%
Cash Interest	$ 3,540	3,540
2021-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rate	1.631%
Cash Interest	$ 4,846	4,846
2021-2C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rate	1.84%
Cash Interest	$ 4,196	4,196
2021-3C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rate	2.593%
Cash Interest	$ 5,873	5,873
2022-1C Tower Securities [Member]
Debt Instrument [Line Items]
Interest Rate	6.599%
Cash Interest	$ 14,093
2020 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rate	3.875%
Cash Interest	$ 14,531	14,531
Non-cash Interest	$ 88	88
2021 Senior Notes [Member]
Debt Instrument [Line Items]
Interest Rate	3.125%
Cash Interest	$ 11,719	11,719
Other [Member]
Debt Instrument [Line Items]
Cash Interest	778	$ 787
Non-cash Interest	4,928
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%

Debt (Schedule of Revolving Cre

Debt (Schedule of Revolving Credit Facility Key Terms) (Details) - Revolving Credit Facility [Member]	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Line of Credit Facility [Line Items]
Interest Rate	6.037%
Unused Commitment Fee	0.14%
Financial Covenant Compliance Status	In Compliance
Sustainability Margin Adjustment		0.05%
Sustainability Commitment Fee Adjustment		0.01%

Debt (Summary of Revolving Cred

Debt (Summary of Revolving Credit Facility Activity) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Line of Credit Facility [Line Items]
Repayments under Revolving Credit Facility	$ (185,000)
Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Beginning outstanding balance	720,000	$ 350,000
Borrowings	140,000	330,000
Repayments under Revolving Credit Facility	(185,000)
Ending outstanding balance	$ 675,000	$ 680,000

Shareholders' Equity (Narrative

Shareholders' Equity (Narrative) (Details) - USD ($) $ in Millions	May 08, 2023	Oct. 28, 2021
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

Shareholders' Equity (Summary o

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

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
	May 08, 2023	Mar. 31, 2023
February 27,2022 [Member]
Date Declared		Feb. 20, 2023
Payable to Shareholders of Record at the Close of Business on		Mar. 10, 2023
Cash Paid Per Share		$ 0.85
Aggregate Amount Paid		$ 93.9
Date Paid/Date to be Paid		Mar. 24, 2023
Subsequent Event [Member] | April 24, 2022 [Member]
Date Declared	Apr. 30, 2023
Payable to Shareholders of Record at the Close of Business on	May 26, 2023
Cash to be Paid Per Share	$ 0.85
Date Paid/Date to be Paid	Jun. 21, 2023

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) $ in Millions	3 Months Ended
	Mar. 31, 2023 USD ($) shares
Stock-Based Compensation [Abstract]
Grants in period | shares	0
Total intrinsic value for options exercised | $	$ 19

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of Stock Option Activity) (Details) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) $ / shares shares
Stock-Based Compensation [Abstract]
Number of Shares, Outstanding | shares	1,673
Number of Shares, Exercised | shares	(112)
Number of Shares, Forfeited/canceled | shares	(1)
Number of Shares, Outstanding | shares	1,560
Number of Shares, Exercisable | shares	1,543
Number of Shares, Unvested | shares	17
Weighted-Average Exercise Price Per Share, Outstanding | $ / shares	$ 161.02
Weighted-Average Exercise Price Per Share, Exercised | $ / shares	107.43
Weighted-Average Exercise Price Per Share, Forfeited/canceled | $ / shares	217.40
Weighted-Average Exercise Price Per Share, Outstanding | $ / shares	164.84
Weighted-Average Exercise Price Per Share, Exercisable | $ / shares	163.68
Weighted-Average Exercise Price Per Share, Unvested | $ / shares	$ 282.56
Weighted-Average Remaining Contractual Life (in years), Outstanding	2 years 3 months 18 days
Weighted-Average Remaining Contractual Life (in years), Exercisable	2 years 2 months 12 days
Weighted-Average Remaining Contractual Life (in years), Unvested	7 years 2 months 12 days
Aggregate Intrinsic Value, Outstanding | $	$ 150,596
Aggregate Intrinsic Value, Exercisable | $	150,375
Aggregate Intrinsic Value, Unvested | $	$ 221

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, 2023 $ / shares shares
Restricted Stock Units (RSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Outstanding | shares	222
Number of Shares, Granted | shares	163
Number of Shares, Vested | shares	(111)
Number of Shares, Forfeited/canceled | shares	(7)
Number of Shares, Outstanding | shares	267
Weighted-Average Grant Date Fair Value per Share, Outstanding | $ / shares	$ 280.66
Weighted-Average Grant Date Fair Value per Share, Granted | $ / shares	256.19
Weighted-Average Grant Date Fair Value per Share, Vested | $ / shares	262.07
Weighted-Average Grant Date Fair Value per Share, Forfeited/canceled | $ / shares	281.10
Weighted-Average Grant Date Fair Value per Share, Outstanding | $ / shares	$ 273.43
Performance Stock Units (PSUs) [Member]
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Number of Shares, Outstanding | shares	429
Number of Shares, Granted | shares	95
Number of Shares, Adjustment | shares	65
Number of Shares, Vested | shares	(207)
Number of Shares, Forfeited/canceled | shares	(13)
Number of Shares, Outstanding | shares	369
Weighted-Average Grant Date Fair Value per Share, Outstanding | $ / shares	$ 332.18
Weighted-Average Grant Date Fair Value per Share, Granted | $ / shares	263.53
Weighted-Average Grant Date Fair Value per Share, Adjustment | $ / shares	302.96
Weighted-Average Grant Date Fair Value per Share, Vested | $ / shares	345.08
Weighted-Average Grant Date Fair Value per Share, Forfeited/canceled | $ / shares	295.77
Weighted-Average Grant Date Fair Value per Share, Outstanding | $ / shares	$ 298.88
Performance period	3 years

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Schedule Of Income Taxes [Line Items]
Federal net operating loss carry-forward		$ 545,200,000
Secretariat of the Federal Revenue Bureau of Brazil [Member]
Schedule Of Income Taxes [Line Items]
Penalties and interest accrued	$ 0	86,900,000
Minimum [Member] | Secretariat of the Federal Revenue Bureau of Brazil [Member]
Schedule Of Income Taxes [Line Items]
Year under examination	2016
Estimate of possible loss		0
Maximum [Member] | Secretariat of the Federal Revenue Bureau of Brazil [Member]
Schedule Of Income Taxes [Line Items]
Year under examination	2019
Estimate of possible loss		$ 93,100,000

Segment Data (Narrative) (Detai

Segment Data (Narrative) (Details) $ in Billions	3 Months Ended	12 Months Ended
	Mar. 31, 2023 USD ($) segment item	Dec. 31, 2022 USD ($)
Revenues from External Customers and Long-Lived Assets [Line Items]
Number of business segments | segment	2
Number of reportable segments | segment	2
Number of measures utilized of segment profit to assess performance and allocate resources | item	2
Domestic Site Leasing [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 5.8	$ 5.9
International Site Leasing [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	3.5	3.5
Brazil [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Long-lived assets	$ 2.1	$ 2
Foreign Countries, Other than Brazil [Member] | Long-Lived Assets [Member] | Maximum [Member] | Geographic Concentration Risk [Member]
Revenues from External Customers and Long-Lived Assets [Line Items]
Concentration risk percentage	5%	5%

Segment Data (Schedule of Segme

Segment Data (Schedule of Segment Reporting Information) (Details) - USD ($) $ in Thousands		3 Months Ended		12 Months Ended
		Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenues		$ 675,516	$ 619,770
Cost of revenues		164,304	152,928
Operating profit		511,212	466,842
Selling, general, and administrative expenses	[1]	72,209	62,124
Acquisition and new business initiatives related adjustments and expenses		6,057	5,104
Asset impairment and decommission costs		26,390	8,512
Depreciation, amortization and accretion		182,415	174,323
Operating income		224,141	216,779
Other expense, net (principally interest expense and other income)		(80,079)	12,004
Income before income taxes		144,062	228,783
Cash capital expenditures		69,320	253,863
Site leasing		617,268	559,432
Assets		10,541,529		$ 10,585,041
Domestic Site Leasing [Member]
Segment Reporting Information [Line Items]
Revenues		454,833	432,986
Cost of revenues		69,750	65,804
Operating profit		385,083	367,182
Selling, general, and administrative expenses		31,743	23,373
Acquisition and new business initiatives related adjustments and expenses		3,232	3,599
Asset impairment and decommission costs		19,435	5,483
Depreciation, amortization and accretion		119,487	123,133
Operating income		211,186	211,594
Cash capital expenditures		44,636	39,545
Assets		6,186,249		6,308,204
International Site Leasing [Member]
Segment Reporting Information [Line Items]
Revenues		162,435	126,446
Cost of revenues		50,369	41,351
Operating profit		112,066	85,095
Selling, general, and administrative expenses		16,730	15,494
Acquisition and new business initiatives related adjustments and expenses		2,825	1,505
Asset impairment and decommission costs		4,886	3,029
Depreciation, amortization and accretion		60,412	48,881
Operating income		27,213	16,186
Cash capital expenditures		23,033	211,771
Assets		3,855,779		3,808,699
Site Development [Member]
Segment Reporting Information [Line Items]
Revenues		58,248	60,338
Cost of revenues		44,185	45,773
Operating profit		14,063	14,565
Selling, general, and administrative expenses		6,077	5,522
Depreciation, amortization and accretion		916	588
Operating income		7,070	8,455
Cash capital expenditures		395	966
Assets		127,215		158,137
Other [Member]
Segment Reporting Information [Line Items]
Selling, general, and administrative expenses		17,659	17,735
Asset impairment and decommission costs		2,069
Depreciation, amortization and accretion		1,600	1,721
Operating income		(21,328)	(19,456)
Other expense, net (principally interest expense and other income)		(80,079)	12,004
Cash capital expenditures		1,256	$ 1,581
Assets		372,286		310,001
Brazil [Member] | International Site Leasing [Member]
Segment Reporting Information [Line Items]
Revenues		$ 93,800		$ 65,200
Maximum [Member] | Revenue [Member] | Geographic Concentration Risk [Member] | Foreign Countries, Other than Brazil [Member]
Segment Reporting Information [Line Items]
Concentration risk percentage		5%	5%
[1] Includes non-cash compensation of $ 25,529 and $ 24,116 for the three months ended March 31, 2023 and 2022, respectively.

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, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Net income attributable to SBA Communications Corporation	$ 101,217	$ 188,623
Basic weighted-average shares outstanding	108,132	108,086
Dilutive impact of stock options, RSUs, and PSUs	1,139	1,458
Diluted weighted-average shares outstanding	109,271	109,544
Net income per common share attributable to SBA Communications Corporation:
Basic	$ 0.94	$ 1.75
Diluted	$ 0.93	$ 1.72

Redeemable Noncontrolling Int_3

Redeemable Noncontrolling Interests (Components of Redeemable Noncontrolling Interest) (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Redeemable Noncontrolling Interests [Abstract]
Beginning balance	$ 31,735	$ 17,250	$ 17,250
Net loss attributable to noncontrolling interests	(663)	$ (317)	(1,630)
Foreign currency translation adjustments			(204)
Adjustment to redemption amount	7,112		16,319
Ending balance	$ 38,184		$ 31,735

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) - USD ($)		3 Months Ended	12 Months Ended
	Aug. 04, 2020	Mar. 31, 2023	Dec. 31, 2022
Interest Rate Swap [Member]
Derivative [Line Items]
Accumulated derivative losses		$ 97,200,000	$ 119,600,000
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%
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
Cash Flow Hedges [Member] | 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		$ 151,500,000	$ 182,900,000
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%
London Interbank Offered Rate (LIBOR) [Member] | Cash Flow Hedges [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, 2023	Mar. 31, 2022
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	$ (31,396)	$ 74,101
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	$ 9,007	$ 11,221