Document_and_Entity_Informatio
Document and Entity Information | 9 Months Ended | |
Sep. 30, 2013 | Nov. 01, 2013 | |
Document And Entity Information [Abstract] | ' | ' |
Document Type | '10-Q | ' |
Amendment Flag | 'false | ' |
Document Period End Date | 30-Sep-13 | ' |
Document Fiscal Year Focus | '2013 | ' |
Document Fiscal Period Focus | 'Q3 | ' |
Entity Registrant Name | 'SBA COMMUNICATIONS CORP | ' |
Entity Central Index Key | '0001034054 | ' |
Current Fiscal Year End Date | '--12-31 | ' |
Entity Filer Category | 'Large Accelerated Filer | ' |
Entity Common Stock, Shares Outstanding | ' | 128,387,897 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Current Assets: | ' | ' |
Cash and cash equivalents | $189,409 | $233,099 |
Restricted cash | 49,054 | 27,708 |
Short-term investments | 4,873 | 5,471 |
Accounts receivable, net of allowance of $714 and $246 at September 30, 2013 and December 31, 2012, respectively | 65,115 | 39,099 |
Costs and estimated earnings in excess of billings on uncompleted contracts | 34,090 | 23,644 |
Prepaid and other current assets | 47,893 | 39,542 |
Total current assets | 390,434 | 368,563 |
Property and equipment, net | 2,578,639 | 2,671,317 |
Intangible assets, net | 3,122,339 | 3,134,133 |
Deferred financing fees, net | 76,974 | 66,324 |
Other assets | 416,042 | 355,280 |
Total assets | 6,584,428 | 6,595,617 |
Current Liabilities | ' | ' |
Current maturities of long-term debt | 11,250 | 475,351 |
Accounts payable | 26,168 | 27,694 |
Accrued expenses | 67,055 | 42,052 |
Deferred revenue | 84,919 | 76,668 |
Accrued interest | 42,175 | 46,233 |
Other current liabilities | 21,291 | 195,690 |
Total current liabilities | 252,858 | 863,688 |
Long-term liabilities: | ' | ' |
Long-term debt | 5,637,078 | 4,880,752 |
Other long-term liabilities | 246,063 | 186,475 |
Total long-term liabilities | 5,883,141 | 5,067,227 |
Commitments and contingencies | ' | ' |
Redeemable noncontrolling interest | ' | 11,711 |
Shareholders' equity | ' | ' |
Common stock - Class A, par value $0.01, 400,000 shares authorized, 128,137 and 126,933 shares issued and outstanding at September 30, 2013 and December 31, 2012, respectively | 1,281 | 1,269 |
Additional paid in capital | 2,958,635 | 3,111,107 |
Accumulated deficit | -2,498,923 | -2,462,176 |
Accumulated other comprehensive (loss) income, net | -12,564 | 2,791 |
Total shareholders' equity | 448,429 | 652,991 |
Total liabilities and shareholders' equity | $6,584,428 | $6,595,617 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets (Parenthetical) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, except Per Share data, unless otherwise specified | ||
Accounts receivable, allowance | $714 | $246 |
Class A Common Stock [Member] | ' | ' |
Common stock - Class A, par value | $0.01 | $0.01 |
Common stock - Class A, shares authorized | 400,000 | 400,000 |
Common stock - Class A, shares issued | 128,137 | 126,933 |
Common stock - Class A, shares outstanding | 128,137 | 126,933 |
Consolidated_Statements_of_Ope
Consolidated Statements of Operations (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Revenues: | ' | ' | ' | ' |
Site leasing | $287,483 | $208,828 | $840,488 | $585,332 |
Site development | 44,611 | 29,778 | 128,982 | 74,911 |
Total revenues | 332,094 | 238,606 | 969,470 | 660,243 |
Operating expenses: | ' | ' | ' | ' |
Cost of site leasing | 68,042 | 46,621 | 203,927 | 126,787 |
Cost of site development | 35,253 | 25,062 | 103,788 | 63,294 |
Selling, general, and administrative | 21,827 | 17,565 | 63,765 | 52,524 |
Asset impairment and decommission costs | 6,190 | 1,560 | 16,405 | 2,555 |
Acquisition related expenses | 3,599 | 5,715 | 11,378 | 21,875 |
Depreciation, accretion, and amortization | 133,281 | 101,012 | 400,006 | 277,110 |
Total operating expenses | 268,192 | 197,535 | 799,269 | 544,145 |
Operating income | 63,902 | 41,071 | 170,201 | 116,098 |
Other income (expense): | ' | ' | ' | ' |
Interest income | 274 | 335 | 1,612 | 419 |
Interest expense | -62,987 | -50,578 | -185,569 | -136,728 |
Non-cash interest expense | -9,642 | -17,874 | -39,151 | -52,281 |
Amortization of deferred financing fees | -3,981 | -3,199 | -11,508 | -9,293 |
Loss from extinguishment of debt, net | -3 | -22,643 | -5,764 | -49,792 |
Other income, net | 34,175 | 249 | 34,873 | 5,233 |
Total other expense, net | -42,164 | -93,710 | -205,507 | -242,442 |
Income (loss) before provision for income taxes | 21,738 | -52,639 | -35,306 | -126,344 |
Provision for income taxes | -207 | -1,029 | -1,441 | -4,809 |
Income (loss) from continuing operations | 21,531 | -53,668 | -36,747 | -131,153 |
Income from discontinued operations, net of income taxes | ' | 969 | ' | 2,349 |
Net income (loss) | 21,531 | -52,699 | -36,747 | -128,804 |
Less: Net loss attributable to the noncontrolling interest | ' | 254 | ' | 256 |
Net income (loss) attributable to SBA Communications Corporation | $21,531 | ($52,445) | ($36,747) | ($128,548) |
Income (loss) per common share from continuing operations: | ' | ' | ' | ' |
Basic | $0.17 | ($0.44) | ($0.29) | ($1.11) |
Diluted | $0.16 | ($0.44) | ($0.29) | ($1.11) |
Income per common share from discontinued operations: | ' | ' | ' | ' |
Basic and diluted | ' | $0.01 | ' | $0.02 |
Weighted average number of common shares | ' | ' | ' | ' |
Basic | 127,885 | 121,689 | 127,555 | 118,159 |
Diluted | 136,912 | 121,689 | 127,555 | 118,159 |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (Loss) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Statement Of Income And Comprehensive Income [Abstract] | ' | ' | ' | ' |
Net income (loss) from continuing operations | $21,531 | ($53,668) | ($36,747) | ($131,153) |
Income from discontinued operations | ' | 969 | ' | 2,349 |
Foreign currency translation adjustments | 16,909 | 1,686 | -15,355 | 1,449 |
Comprehensive income (loss) | 23,140 | -51,013 | -52,102 | -127,355 |
Comprehensive (loss) attributable to the noncontrolling interest | ' | 254 | ' | 256 |
Comprehensive income (loss) attributable to SBA Communications Corp. | $23,140 | ($50,759) | ($52,102) | ($127,099) |
Consolidated_Statement_of_Shar
Consolidated Statement of Shareholders' Equity (USD $) | Total | Shares - Hedge [Member] | Shares - Warrant [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | Class A Common Stock [Member] | Additional Paid-In Capital [Member] | Additional Paid-In Capital [Member] | Additional Paid-In Capital [Member] | Accumulated Deficit [Member] | Accumulated Other Comprehensive (Loss) Income, Net [Member] |
In Thousands, except Share data | Shares - Hedge [Member] | Shares - Warrant [Member] | Shares - Hedge [Member] | Shares - Warrant [Member] | |||||||
BALANCE, Amount at Dec. 31, 2012 | $652,991 | ' | ' | $1,269 | ' | ' | $3,111,107 | ' | ' | ($2,462,176) | $2,791 |
BALANCE, Shares at Dec. 31, 2012 | ' | ' | ' | 126,933,000 | ' | ' | ' | ' | ' | ' | ' |
Net loss attributable to SBA Communications | -36,747 | ' | ' | ' | ' | ' | ' | ' | ' | -36,747 | ' |
Common stock issued in connection with stock purchase/option plans, Amount | 10,167 | ' | ' | 6 | ' | ' | 10,161 | ' | ' | ' | ' |
Common stock issued in connection with stock purchase/option plans, Shares | ' | ' | ' | 638,000 | ' | ' | ' | ' | ' | ' | ' |
Non-cash compensation | 13,162 | ' | ' | ' | ' | ' | 13,162 | ' | ' | ' | ' |
Adjustment associated with the acquisition of noncontrolling interest | 5,703 | ' | ' | ' | ' | ' | 5,703 | ' | ' | ' | ' |
Settlement of convertible notes, Amount | -321,923 | ' | ' | 5 | ' | ' | -321,928 | ' | ' | ' | ' |
Settlement of convertible notes, Shares | ' | ' | ' | 438,000 | ' | ' | ' | ' | ' | ' | ' |
Settlement of convertible note hedges and common stock warrants, Shares | ' | ' | ' | ' | -82,000 | 210,000 | ' | ' | ' | ' | ' |
Settlement of convertible note hedges and common stock warrants, Amount | ' | 182,854 | -42,423 | ' | -1 | 2 | ' | 182,855 | -42,425 | ' | ' |
Foreign currency translation adjustments | -15,355 | ' | ' | ' | ' | ' | ' | ' | ' | ' | -15,355 |
BALANCE, Amount at Sep. 30, 2013 | $448,429 | ' | ' | $1,281 | ' | ' | $2,958,635 | ' | ' | ($2,498,923) | ($12,564) |
BALANCE, Shares at Sep. 30, 2013 | ' | ' | ' | 128,137,000 | ' | ' | ' | ' | ' | ' | ' |
Consolidated_Statements_of_Cas
Consolidated Statements of Cash Flows (USD $) | 9 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' |
Net loss | ($36,747) | ($128,804) |
Adjustments to reconcile net loss to net cash provided by operating activities: | ' | ' |
Income from discontinued operations, net of income taxes | ' | -2,349 |
Depreciation, accretion, and amortization | 400,006 | 277,110 |
Non-cash interest expense | 39,151 | 52,281 |
Deferred income tax (benefit) expense | -2,670 | 1,456 |
Non-cash asset impairment and decommission costs | 13,097 | 2,555 |
Non-cash compensation expense | 13,010 | 10,586 |
Amortization of deferred financing fees | 11,508 | 9,293 |
Loss from extinguishment of debt, net | 5,764 | 49,792 |
Unrealized gain on foreign currency swap contract | -6,893 | ' |
Gain on sale/settlement of bankruptcy claim on convertible hedge | -27,870 | -4,649 |
Other non-cash items reflected in the Statements of Operations | -537 | 177 |
Changes in operating assets and liabilities, net of acquisitions: | ' | ' |
Accounts receivable and costs and estimated earnings in excess of billings on uncompleted contracts, net | -34,531 | -14,220 |
Prepaid and other assets | -68,622 | -48,384 |
Accounts payable and accrued expenses | 4,901 | 7,136 |
Accrued interest | 137 | 2,656 |
Other liabilities | 33,344 | 22,887 |
Net cash provided by operating activities | 343,048 | 237,523 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ' | ' |
Acquisitions and related earn-outs | -348,365 | -982,989 |
Capital expenditures | -103,373 | -74,461 |
Proceeds from sale of DAS networks | ' | 94,300 |
Other investing activities | 960 | -2,043 |
Net cash used in investing activities | -450,778 | -965,193 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Borrowings under Revolving Credit Facility | 125,000 | 484,000 |
Repayments under Revolving Credit Facility | -225,000 | -484,000 |
Proceeds from sale of common stock, net of fees | ' | 283,879 |
Proceeds from sale/settlement of bankruptcy claim on convertible hedge | 27,870 | 4,648 |
Proceeds from employee stock purchase/stock option plans | 10,167 | 20,945 |
Payments on settlement of convertible debt | -794,997 | ' |
Proceeds from settlement of convertible note hedges | 182,855 | ' |
Payments for settlement of common stock warrants | -42,424 | ' |
Net cash provided by financing activities | 62,820 | 2,119,105 |
Effect of exchange rate changes on cash and cash equivalents | 1,220 | -55 |
Net cash provided by discontinued operations from operating activities | ' | 2,349 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | -43,690 | 1,393,729 |
CASH AND CASH EQUIVALENTS: | ' | ' |
Beginning of period | 233,099 | 47,316 |
End of period | 189,409 | 1,441,045 |
Cash paid during the period for: | ' | ' |
Interest | 185,408 | 134,170 |
Income taxes | 5,208 | 3,698 |
SUPPLEMENTAL CASH FLOW INFORMATION OF NON-CASH INVESTING & FINANCING ACTIVITIES: | ' | ' |
Assets acquired through capital leases | 1,239 | 2,235 |
Issuance of stock for acquisitions | ' | 263,341 |
Issuance of stock for conversion of debt, hedges, and warrants | 18,158 | ' |
Promissory note received in connection with disposition of DAS assets | ' | 25,000 |
Liabilities assumed on acquisition | 9,796 | ' |
Mobilitie Bridge Loan [Member] | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Proceeds from Long Term Debt, net of fees | ' | 395,000 |
Repayment of Debt Amount | ' | -400,000 |
5.625% and 5.75% Senior Notes [Member] | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Proceeds from Long Term Debt, net of fees | ' | 1,278,456 |
2012 Secured Tower Revenue Securities [Member] | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Proceeds from issuance of debt | ' | 596,772 |
Term Loan under the Senior Credit Agreement [Member] | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Proceeds from Term Loans, net of fees | ' | 493,264 |
Repayment of Term Loans | -509,500 | -6,250 |
8.0% Notes and 8.25% Notes [Member] | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Repayment of Debt Amount | ' | -542,203 |
Tower Securities [Member] | ' | ' |
CASH FLOWS FROM FINANCING ACTIVITIES: | ' | ' |
Proceeds from issuance of debt | 1,304,854 | ' |
Other financing activities | ($16,005) | ($5,406) |
Consolidated_Statements_of_Cas1
Consolidated Statements of Cash Flows (Parenthetical) | Sep. 30, 2013 |
5.625% Senior Notes [Member] | ' |
Debt instrument stated percentage | 5.63% |
5.75% Senior Notes [Member] | ' |
Debt instrument stated percentage | 5.75% |
8.0% Notes [Member] | ' |
Debt instrument stated percentage | 8.00% |
8.25% Notes [Member] | ' |
Debt instrument stated percentage | 8.25% |
Basis_of_Presentation
Basis of Presentation | 9 Months Ended | |
Sep. 30, 2013 | ||
Accounting Policies [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, 2012 for SBA Communications Corporation and its subsidiaries (the “Company”). These financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X and, therefore, omit or condense certain footnotes and other information normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States. In the opinion of the Company’s management, all adjustments (consisting of normal recurring accruals) considered necessary for fair financial statement presentation have been made. The results of operations for an interim period may not give an 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 consolidated financial statements and accompanying notes. While the Company believes that such estimates are reasonable when considered in conjunction with the consolidated financial statements and accompanying notes, the actual amount of such estimates, when known, will vary from these estimates. |
Fair_Value_Measurements
Fair Value Measurements | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||||||||||
2 | FAIR VALUE MEASUREMENTS | ||||||||||||||||||||||||
Items Measured at Fair Value on a Recurring Basis— The Company’s earnouts related to acquisitions are measured at fair value on a recurring basis using Level 3 inputs. The Company determines the fair value of acquisition-related contingent consideration, and any subsequent changes in fair value, using a discounted probability-weighted approach using Level 3 inputs. The fair value of the earnouts is reviewed quarterly and is based on the payments the Company expects to make based on historical internal observations related to the anticipated performance of the underlying assets. The Company’s estimate of the fair value of its obligation if the performance targets contained in various acquisition agreements were met was $26.0 million and $9.8 million as of September 30, 2013 and December 31, 2012, respectively, which the Company recorded in accrued expenses on its Consolidated Balance Sheets. The maximum potential obligation related to the performance targets was $39.4 million as of September 30, 2013. | |||||||||||||||||||||||||
Items Measured at Fair Value on a Nonrecurring Basis— The Company’s long-lived assets, intangibles, and asset retirement obligations are measured at fair value on a nonrecurring basis using Level 3 inputs. Level 3 valuations rely on unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. The Company considers many factors and makes certain assumptions when making this assessment, including but not limited to: general market and economic conditions, historical operating results, geographic location, lease-up potential and expected timing of lease-up. The fair value of the long-lived assets, intangibles, and asset retirement obligations is calculated using a discounted cash flow model. During the three and nine months ended September 30, 2013, the Company recognized an impairment charge of $6.2 million and $16.4 million, respectively, including the write off of the carrying value of decommissioned towers and other third party decommission costs, related to its long-lived assets and intangibles resulting from the Company’s analysis that the future cash flows from certain tower sites would not recover the carrying value of the investment in those tower sites. During the three and nine months ended September 30, 2012, the Company recognized an impairment charge of $1.6 million and $2.6 million, respectively. Impairment charges for all periods presented and the related impaired assets relate to the Company’s site leasing operating segment. | |||||||||||||||||||||||||
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 related estimated fair values due to the short maturity of those instruments. Short-term investments consisted of $4.7 million and $5.3 million in certificate of deposits, as of September 30, 2013 and December 31, 2012, respectively. The Company’s estimate of the fair value of its held-to-maturity investments in treasury and corporate bonds, including current portion, are based primarily upon Level 1 reported market values. As of September 30, 2013, the carrying value and fair value of the held-to-maturity investments, including current portion, were $1.1 million and $1.3 million, respectively. As of December 31, 2012, the carrying value and fair value of the held-to-maturity investments, including current portion, was $1.3 million and $1.5 million, respectively. | |||||||||||||||||||||||||
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 be equal to the carrying value because the interest payments are based on Eurodollar rates that reset every month. The Company does not believe its credit risk has changed materially from the date the applicable Eurodollar Rate plus 187.5 basis points was set for the Revolving Credit Facility. The following table reflects fair values, principal balances, and carrying values of the Company’s debt instruments (see Note 9). | |||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
Principal | Carrying | Principal | Carrying | ||||||||||||||||||||||
Fair Value | Balance | Value | Fair Value | Balance | Value | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
1.875% Convertible Senior Notes | $ | — | $ | — | $ | — | $ | 714,096 | $ | 468,836 | $ | 457,351 | |||||||||||||
4.000% Convertible Senior Notes | 1,329,234 | 499,947 | 458,535 | 1,060,622 | 499,987 | 430,751 | |||||||||||||||||||
8.250% Senior Notes | 263,250 | 243,750 | 242,340 | 272,391 | 243,750 | 242,205 | |||||||||||||||||||
5.625% Senior Notes | 490,000 | 500,000 | 500,000 | 523,750 | 500,000 | 500,000 | |||||||||||||||||||
5.750% Senior Notes | 792,000 | 800,000 | 800,000 | 848,000 | 800,000 | 800,000 | |||||||||||||||||||
4.254% Secured Tower Revenue | 692,342 | 680,000 | 680,000 | 713,619 | 680,000 | 680,000 | |||||||||||||||||||
Securities Series 2010-1 | |||||||||||||||||||||||||
5.101% Secured Tower Revenue | 592,257 | 550,000 | 550,000 | 621,379 | 550,000 | 550,000 | |||||||||||||||||||
Securities Series 2010-2 | |||||||||||||||||||||||||
2.933% Secured Tower Revenue | 614,008 | 610,000 | 610,000 | 635,614 | 610,000 | 610,000 | |||||||||||||||||||
Securities Series 2012-1 | |||||||||||||||||||||||||
2.240% Secured Tower Revenue | 411,940 | 425,000 | 425,000 | — | — | — | |||||||||||||||||||
Securities Series 2013-1C | |||||||||||||||||||||||||
3.722% Secured Tower Revenue | 541,805 | 575,000 | 575,000 | — | — | — | |||||||||||||||||||
Securities Series 2013-2C | |||||||||||||||||||||||||
3.598% Secured Tower Revenue | 321,651 | 330,000 | 330,000 | — | — | — | |||||||||||||||||||
Securities Series 2013-1D | |||||||||||||||||||||||||
Revolving Credit Facility | — | — | — | 100,000 | 100,000 | 100,000 | |||||||||||||||||||
2011 Term Loan B | 180,303 | 180,529 | 180,218 | 493,731 | 492,500 | 491,518 | |||||||||||||||||||
2012-1 Term Loan A | 187,031 | 187,500 | 187,500 | 194,513 | 195,000 | 195,000 | |||||||||||||||||||
2012-2 Term Loan B | 109,834 | 109,971 | 109,735 | 300,750 | 300,000 | 299,278 | |||||||||||||||||||
Total debt | $ | 6,525,655 | $ | 5,691,697 | $ | 5,648,328 | $ | 6,478,465 | $ | 5,440,073 | $ | 5,356,103 |
Restricted_Cash
Restricted Cash | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Restricted Cash | ' | ||||||||||||
3 | RESTRICTED CASH | ||||||||||||
Restricted cash consists of the following: | |||||||||||||
As of | As of | ||||||||||||
September 30, 2013 | December 31, 2012 | Included on Balance Sheet | |||||||||||
(in thousands) | |||||||||||||
Securitization escrow accounts | $ | 48,115 | $ | 26,774 | Restricted cash - current asset | ||||||||
Payment and performance bonds | 939 | 934 | Restricted cash - current asset | ||||||||||
Surety bonds and workers compensation | 11,991 | 11,989 | Other assets - noncurrent | ||||||||||
Total restricted cash | $ | 61,045 | $ | 39,697 | |||||||||
Pursuant to the terms of the Tower Securities (see Note 9), 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 tower sites, (3) trustee and servicing expenses, (4) management fees, and (5) to reserve a portion of advance rents received from tenants. The restricted cash in the controlled deposit account in excess of required reserve balances is subsequently released to the Borrowers (as defined in the Annual Report on Form 10-K) monthly, provided that the Borrowers are in compliance with their debt service coverage ratio and that no event of default has occurred. All monies held by the indenture trustee are classified as restricted cash on the Company’s Consolidated Balance Sheets. | |||||||||||||
Payment and performance bonds relate primarily to collateral requirements for tower construction currently in process by the Company. Cash is pledged as collateral related to surety bonds issued for the benefit of the Company or its affiliates in the ordinary course of business and primarily related to the Company’s tower removal obligations. As of September 30, 2013, the Company had $39.2 million in surety, payment and performance bonds for which it was required to post $7.8 million in collateral. As of December 31, 2012, the Company had $35.1 million in surety, payment and performance bonds for which it was required to post $10.5 million in collateral. The Company periodically evaluates the collateral posted for its bonds to ensure that it meets the minimum requirements. The Company also pledged $2.3 million as collateral related to its workers’ compensation policy as of September 30, 2013 and December 31, 2012. |
Acquisitions
Acquisitions | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Acquisitions | ' | ||||||||||||||||
4 | ACQUISITIONS | ||||||||||||||||
During the third quarter of 2013, the Company acquired 279 completed towers and related assets and liabilities and the rights to manage 4 additional communication sites. These acquisitions were not significant to the Company and, accordingly, pro forma financial information has not been presented. | |||||||||||||||||
The following table summarizes the Company’s cash acquisition capital expenditures: | |||||||||||||||||
For the three months | For the nine months | ||||||||||||||||
ended September 30, | ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands) | |||||||||||||||||
Towers and related intangible assets | $ | 80,326 | $ | 21,736 | $ | 311,190 | $ | 951,331 | |||||||||
Ground lease land purchases | 11,320 | 9,154 | 35,864 | 25,907 | |||||||||||||
Earnouts | — | 708 | 1,311 | 5,751 | |||||||||||||
Total acquisition capital expenditures | $ | 91,646 | $ | 31,598 | $ | 348,365 | $ | 982,989 | |||||||||
Total acquisition capital expenditures for the nine months ended September 30, 2013, included $175.9 million related to an acquisition in Brazil which closed in the fourth quarter of 2012. | |||||||||||||||||
In addition, the Company paid $2.8 million and $1.2 million for ground lease extensions during the three months ended September 30, 2013 and 2012, respectively, and $7.6 and $4.7 million for ground lease extensions during the nine months ended September 30, 2013 and 2012, respectively. The Company recorded these amounts in prepaid rent on its Consolidated Balance Sheet. | |||||||||||||||||
The estimates of the fair value of the assets acquired and liabilities assumed at the date of an acquisition are subject to adjustment during the measurement period (up to one year from the particular acquisition date). The primary areas of the preliminary purchase price allocations that are not yet finalized relate to the fair value of certain tangible and intangible assets acquired and liabilities assumed, including contingent consideration and any related tax impact. The fair values of these net assets acquired are based on management’s estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. During the measurement period, the Company will adjust assets and/or liabilities if new information is obtained about facts and circumstances that existed as of the acquisition date that, if known, would have resulted in a revised estimated value of those assets and/or liabilities as of that date. The effect of material measurement period adjustments to the estimated fair values is reflected as if the adjustments had been completed on the acquisition date. The impact of all changes that do not qualify as measurement period adjustments are included in current period earnings. If the actual results differ from the estimates and judgments used in these fair values, the amounts recorded in the consolidated financial statements could be subject to a possible impairment of the intangible assets, or require acceleration of the amortization expense of intangible assets in subsequent periods. | |||||||||||||||||
During the second quarter of 2013, the Company identified a purchase price allocation adjustment related to an acquisition that occurred in the fourth quarter of the prior year, and accordingly, has recorded an adjustment to reclassify $54.1 million from Property and Equipment to Intangible Assets. The effect of this entry was not material to the Company’s Statement of Operations and Consolidated Balance Sheet for the periods presented, and as such, has only been reflected in the Consolidated Statement of Operations and Consolidated Balance Sheet as of and for the nine months ended September 30, 2013. | |||||||||||||||||
Earnouts | |||||||||||||||||
The Company recorded an adjustment of $0.1 million increasing the estimated contingent consideration fair value and $1.9 million decreasing the estimated contingent consideration fair value during the three and nine months ended September 30, 2013, respectively. The Company recorded an adjustment of $0.5 million and $1.3 million during the three and nine months ended September 30, 2012, respectively, increasing the estimated contingent consideration fair value at such date. | |||||||||||||||||
As of September 30, 2013, the Company’s estimate of its potential obligation if the performance targets contained in various acquisition agreements were met was $26.0 million, which the Company has recorded in accrued expenses. | |||||||||||||||||
Foreign Currency Forward Contract | |||||||||||||||||
On July 26, 2013 the Company entered into foreign currency forward contracts with a valuation date of October 28, 2013 for an aggregate notional amount of $305.0 million (R$697.1 million) to hedge the purchase price of an acquisition in Brazil. The Company measures its foreign currency forward contracts, which are recorded in Prepaid and other current assets, at fair value based on indicative prices in active markets (Level 2 inputs). These contracts do not qualify for hedge accounting and as such any gains and losses are reflected within Other Income, net in the accompanying Consolidated Statement of Operations. | |||||||||||||||||
At September 30, 2013, the Company recognized an unrealized gain of $6.9 million related to the mark to market of the foreign currency forward contracts. Subsequent to September 30, 2013, the Company settled the foreign currency forward contracts, receiving proceeds of $14.1 million. On October 28, 2013, the Company entered into another foreign currency forward contract with a valuation date of November 18, 2013, for an aggregate notional amount of $314.0 million (R$687.5 million) in order to continue to hedge the purchase price of the Brazil acquisition. | |||||||||||||||||
Discontinued_Operations
Discontinued Operations | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||||||
Discontinued Operations | ' | ||||||||||||||||
5 | DISCONTINUED OPERATIONS | ||||||||||||||||
On September 6, 2012, the Company sold certain DAS networks located in New York, Chicago and Las Vegas, to ExteNet Systems, Inc. for approximately $119.3 million, comprised of $94.3 million in cash and $25 million in the form of a promissory note. One additional DAS network in Auburn, Alabama was sold to ExteNet on October 23, 2012 for $5.7 million in cash. | |||||||||||||||||
The sold DAS networks were included in the Company’s Site Leasing segment, met both the component and held for sale criteria during the third quarter of 2012 and the results of operations associated with these assets have been reported as discontinued operations in the Company’s consolidated financial statements. The Company did not allocate any portion of the Company’s interest expense to discontinued operations. | |||||||||||||||||
The key components of discontinued operations were as follows: | |||||||||||||||||
For the three months | For the nine months | ||||||||||||||||
ended September 30, | ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands) | |||||||||||||||||
Site leasing revenue | $ | — | $ | 2,121 | $ | — | $ | 4,775 | |||||||||
Income from discontinued operations, net of taxes | — | 969 | — | 2,349 |
Intangible_Assets_Net
Intangible Assets, Net | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Intangible Assets, Net | ' | ||||||||||||||||||||||||
6 | INTANGIBLE ASSETS, NET | ||||||||||||||||||||||||
The following table provides the gross and net carrying amounts for each major class of intangible assets: | |||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
Gross carrying | Accumulated | Net book | Gross carrying | Accumulated | Net book | ||||||||||||||||||||
amount | amortization | value | amount | amortization | value | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Current contract intangibles | $ | 2,841,948 | $ | (605,767 | ) | $ | 2,236,181 | $ | 2,744,968 | $ | (462,016 | ) | $ | 2,282,952 | |||||||||||
Network location intangibles | 1,193,367 | (307,209 | ) | 886,158 | 1,101,566 | (250,385 | ) | 851,181 | |||||||||||||||||
Intangible assets, net | $ | 4,035,315 | $ | (912,976 | ) | $ | 3,122,339 | $ | 3,846,534 | $ | (712,401 | ) | $ | 3,134,133 | |||||||||||
All intangible assets noted above are included in our site leasing segment. The Company amortizes its intangible assets using the straight-line method over three to fifteen years. Amortization expense relating to the intangible assets above was $68.1 million and $46.4 million for the three months ended September 30, 2013 and 2012, respectively, and $201.7 million and $124.0 million for the nine months ended September 30, 2013 and 2012, respectively. These amounts are subject to change until the preliminary allocation of the purchase price is finalized for the respective acquisition. |
Property_and_Equipment_Net
Property and Equipment, Net | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment, Net | ' | ||||||||
7 | PROPERTY AND EQUIPMENT, NET | ||||||||
Property and equipment, net (including assets held under capital leases) consists of the following: | |||||||||
As of | As of | ||||||||
September 30, 2013 | December 31, 2012 | ||||||||
(in thousands) | |||||||||
Towers and related components | $ | 3,809,069 | $ | 3,757,859 | |||||
Construction-in-process | 21,022 | 25,454 | |||||||
Furniture, equipment and vehicles | 39,483 | 35,278 | |||||||
Land, buildings and improvements | 327,864 | 290,931 | |||||||
4,197,438 | 4,109,522 | ||||||||
Less: accumulated depreciation | (1,618,799 | ) | (1,438,205 | ) | |||||
Property and equipment, net | $ | 2,578,639 | $ | 2,671,317 | |||||
Construction-in-process represents costs incurred related to towers that are under development and that will be used in the Company’s operations. Depreciation expense was $65.1 million and $54.5 million for the three months ended September 30, 2013 and 2012, respectively, and $198.1 million and $152.8 million for the nine months ended September 30, 2013 and 2012, respectively. At September 30, 2013 and December 31, 2012, non-cash capital expenditures that are included in accounts payable and accrued expenses were $12.0 million and $17.3 million, respectively. |
Costs_and_Estimated_Earnings_o
Costs and Estimated Earnings on Uncompleted Contracts | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Contractors [Abstract] | ' | ||||||||
Costs and Estimated Earnings on Uncompleted Contracts | ' | ||||||||
8 | COSTS AND ESTIMATED EARNINGS ON UNCOMPLETED CONTRACTS | ||||||||
Costs and estimated earnings on uncompleted contracts consist of the following: | |||||||||
As of | As of | ||||||||
September 30, 2013 | December 31, 2012 | ||||||||
(in thousands) | |||||||||
Cost incurred on uncompleted contracts | $ | 88,242 | $ | 55,349 | |||||
Estimated earnings | 34,668 | 20,883 | |||||||
Billings to date | (92,120 | ) | (53,708 | ) | |||||
$ | 30,790 | $ | 22,524 | ||||||
These amounts are included on the accompanying Consolidated Balance Sheet under the following captions: | |||||||||
As of | As of | ||||||||
September 30, 2013 | December 31, 2012 | ||||||||
(in thousands) | |||||||||
Costs and estimated earnings in excess of billings on uncompleted contracts | $ | 34,090 | $ | 23,644 | |||||
Other current liabilities (Billings in excess of costs and estimated earnings on uncompleted contracts) | (3,300 | ) | (1,120 | ) | |||||
$ | 30,790 | $ | 22,524 | ||||||
At September 30, 2013, five significant customers comprised 83.7% of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings, while at December 31, 2012, five significant customers comprised 86.5% of the costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings. |
Debt
Debt | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | ' | ||||||||||||||||||||||||||||||||
Debt | ' | ||||||||||||||||||||||||||||||||
9 | DEBT | ||||||||||||||||||||||||||||||||
The carrying and principal values of debt consist of the following (in thousands): | |||||||||||||||||||||||||||||||||
As of | As of | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Maturity | Principal | Carrying | Principal | Carrying | |||||||||||||||||||||||||||||
Date | Balance | Value | Balance | Value | |||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
1.875% Convertible Senior Notes | 1-May-13 | $ | — | $ | — | $ | 468,836 | $ | 457,351 | ||||||||||||||||||||||||
4.000% Convertible Senior Notes | Oct. 1, 2014 | 499,947 | 458,535 | 499,987 | 430,751 | ||||||||||||||||||||||||||||
8.250% Senior Notes | Aug. 15, 2019 | 243,750 | 242,340 | 243,750 | 242,205 | ||||||||||||||||||||||||||||
5.625% Senior Notes | Oct. 1, 2019 | 500,000 | 500,000 | 500,000 | 500,000 | ||||||||||||||||||||||||||||
5.750% Senior Notes | 15-Jul-20 | 800,000 | 800,000 | 800,000 | 800,000 | ||||||||||||||||||||||||||||
4.254% Secured Tower Revenue Securities Series 2010-1 | April 15, 2015 | 680,000 | 680,000 | 680,000 | 680,000 | ||||||||||||||||||||||||||||
5.101% Secured Tower Revenue Securities Series 2010-2 | 17-Apr-17 | 550,000 | 550,000 | 550,000 | 550,000 | ||||||||||||||||||||||||||||
2.933% Secured Tower Revenue Securities Series 2012-1 | Dec. 15, 2017 | 610,000 | 610,000 | 610,000 | 610,000 | ||||||||||||||||||||||||||||
2.240% Secured Tower Revenue Securities Series 2013-1C | 17-Apr-18 | 425,000 | 425,000 | — | — | ||||||||||||||||||||||||||||
3.722% Secured Tower Revenue Securities Series 2013-2C | 17-Apr-23 | 575,000 | 575,000 | — | — | ||||||||||||||||||||||||||||
3.598% Secured Tower Revenue Securities Series 2013-1D | 17-Apr-18 | 330,000 | 330,000 | — | — | ||||||||||||||||||||||||||||
Revolving Credit Facility | 9-May-17 | — | — | 100,000 | 100,000 | ||||||||||||||||||||||||||||
2011 Term Loan B | 30-Jun-18 | 180,529 | 180,218 | 492,500 | 491,518 | ||||||||||||||||||||||||||||
2012-1 Term Loan A | 9-May-17 | 187,500 | 187,500 | 195,000 | 195,000 | ||||||||||||||||||||||||||||
2012-2 Term Loan B | Sept. 28, 2019 | 109,971 | 109,735 | 300,000 | 299,278 | ||||||||||||||||||||||||||||
Total debt | 5,691,697 | 5,648,328 | 5,440,073 | 5,356,103 | |||||||||||||||||||||||||||||
Less: current maturities of long-term debt | (11,250 | ) | (475,351 | ) | |||||||||||||||||||||||||||||
Total long-term debt, net of current maturities | $ | 5,637,078 | $ | 4,880,752 | |||||||||||||||||||||||||||||
The table below reflects cash and non-cash interest expense amounts recognized by debt instrument for the periods presented: | |||||||||||||||||||||||||||||||||
Three months ended | Three months ended | Nine months ended | Nine months ended | ||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||
Cash | Non-cash | Cash | Non-cash | Cash | Non-cash | Cash | Non-cash | ||||||||||||||||||||||||||
Interest | Interest | Interest | Interest | Interest | Interest | Interest | Interest | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||
1.875% Convertible Senior Notes | $ | — | $ | — | $ | 2,508 | $ | 9,339 | $ | 2,670 | $ | 10,434 | $ | 7,523 | $ | 27,375 | |||||||||||||||||
4.0% Convertible Senior Notes | 4,999 | 9,570 | 5,000 | 8,412 | 14,999 | 28,446 | 15,000 | 24,448 | |||||||||||||||||||||||||
8.0% Senior Notes | — | — | 3,142 | 35 | — | — | 15,867 | 174 | |||||||||||||||||||||||||
8.25% Senior Notes | 5,027 | 46 | 5,027 | 42 | 15,082 | 135 | 18,150 | 149 | |||||||||||||||||||||||||
5.625% Senior Notes | 7,031 | — | 234 | — | 21,094 | — | 234 | — | |||||||||||||||||||||||||
5.75% Senior Notes | 11,500 | — | 10,094 | — | 34,500 | — | 10,094 | — | |||||||||||||||||||||||||
2010 Secured Tower Revenue Securities | 14,349 | — | 14,344 | — | 43,037 | — | 43,032 | — | |||||||||||||||||||||||||
2012 Secured Tower Revenue Securities | 4,521 | — | 2,612 | — | 13,564 | — | 2,612 | — | |||||||||||||||||||||||||
2013 Secured Tower Revenue Securities | 10,804 | — | — | — | 19,588 | — | — | — | |||||||||||||||||||||||||
Revolving Credit Facility | 856 | — | 849 | — | 3,338 | — | 3,558 | — | |||||||||||||||||||||||||
2011 Term Loan | 1,730 | 16 | 4,743 | 45 | 8,802 | 85 | 14,163 | 134 | |||||||||||||||||||||||||
2012-1 Term Loan | 1,123 | — | 1,403 | — | 3,516 | — | 2,262 | — | |||||||||||||||||||||||||
2012-2 Term Loan | 1,054 | 10 | 94 | 1 | 5,362 | 51 | 94 | 1 | |||||||||||||||||||||||||
Mobilitie Bridge Loan | — | — | 499 | — | — | — | 4,239 | — | |||||||||||||||||||||||||
Other | (7 | ) | — | 29 | — | 17 | — | (100 | ) | — | |||||||||||||||||||||||
Total | $ | 62,987 | $ | 9,642 | $ | 50,578 | $ | 17,874 | $ | 185,569 | $ | 39,151 | $ | 136,728 | $ | 52,281 | |||||||||||||||||
Revolving Credit Facility under the Senior Credit Agreement | |||||||||||||||||||||||||||||||||
The Revolving Credit Facility is governed by the Senior Credit Agreement. As of September 30, 2013, the Revolving Credit Facility consists of a revolving loan under which up to $770.0 million aggregate principal amount may be borrowed, repaid and redrawn, subject to compliance with specific financial ratios and the satisfaction of other customary conditions to borrowing. Amounts borrowed under the Revolving Credit Facility accrue interest at the Eurodollar Rate plus a margin that ranges from 187.5 basis points to 237.5 basis points or at a Base Rate plus a margin that ranges from 87.5 basis points to 137.5 basis points, in each case based on the ratio of Consolidated Total Debt to Annualized Borrower EBITDA, calculated in accordance with the Senior Credit Agreement. If not earlier terminated by SBA Senior Finance II, the Revolving Credit Facility will terminate on, and SBA Senior Finance II will repay all amounts outstanding on or before, May 9, 2017. The proceeds available under the Revolving Credit Facility may be used for general corporate purposes. A per annum commitment fee of 0.375% to 0.5% of the unused commitments under the Revolving Credit Facility is charged based on the ratio of Consolidated Total Debt to Annualized Borrower EBITDA (calculated in accordance with the Senior Credit Agreement). SBA Senior Finance II may, from time to time, borrow from and repay the Revolving Credit Facility. Consequently, the amount outstanding under the Revolving Credit Facility at the end of a period may not be reflective of the total amounts outstanding during such period. | |||||||||||||||||||||||||||||||||
On August 27, 2013, SBA Senior Finance II entered into a Sixth Amendment to the Senior Credit Agreement with the lenders parties thereto and the Administrative Agent. The Sixth Amendment amended the Senior Credit Agreement to, among other things, (i) increase the existing Consolidated Total Debt to Annualized Borrower EBITDA ratio maintenance covenant from 6.0x to 6.5x and (ii) proportionately adjust various leverage-based covenants, including mandatory repayments and restrictions on acquired indebtedness, general disposition of assets, restricted payments, and general investments. | |||||||||||||||||||||||||||||||||
In addition, the Sixth Amendment modified the incremental capacity of the Revolving Credit Facility and Term Loan Facility from a fixed cap to an incurrence-based availability test which permits SBA Senior Finance II to request that one or more lenders provide (i) additional commitments under the Revolving Credit Facility and (ii) additional term loans, in each case without requesting the consent of the other lenders provided that after giving effect to the proposed increase in Revolving Credit Facility commitments or incremental term loans the ratio of Consolidated Total Debt to Annualized Borrower EBITDA would not exceed 6.5x. In addition, the amendment modified the percentage of allowable annualized borrower EBITDA for foreign subsidiaries from 10.0% to 35.0%. | |||||||||||||||||||||||||||||||||
As of September 30, 2013, there was no amount outstanding under the Revolving Credit Facility and the availability under the Revolving Credit Facility was $770.0 million, subject to compliance with specified financial ratios and satisfaction of other customary conditions to borrowing. | |||||||||||||||||||||||||||||||||
Term Loans under the Senior Credit Agreement | |||||||||||||||||||||||||||||||||
2011 Term Loan B | |||||||||||||||||||||||||||||||||
The 2011 Term Loan consists of a senior secured term loan with an initial aggregate principal amount of $500.0 million that matures on June 30, 2018. The 2011 Term Loan accrues interest, at SBA Senior Finance II’s election, at either the Base Rate plus a margin of 175 basis points (with a Base Rate floor of 2%) or Eurodollar Rate plus a margin of 275 basis points (with a Eurodollar Rate floor of 1%). As of September 30, 2013, the 2011 Term Loan was accruing interest at 3.75% per annum. SBA Senior Finance II has the ability to prepay any or all amounts under the 2011 Term Loan without premium or penalty. The 2011 Term Loan was issued at 99.75% of par value. The Company incurred deferred financing fees of $4.9 million associated with this transaction which are being amortized through the maturity date. | |||||||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, the Company repaid $312.0 million on the 2011 Term Loan. Included in this amount was a prepayment of $310.7 million made on April 24, 2013 using proceeds from the 2013 Tower Securities. In connection with the prepayment, the Company expensed $2.3 million of net deferred financing fees and $0.6 million of discount related to the debt. As a result of the prepayment, no further scheduled quarterly principal payments are required until the maturity date. As of September 30, 2013, the 2011 Term Loan had a principal balance of $180.5 million. The remaining $1.2 million of deferred financing fees, net are being amortized through the maturity date. | |||||||||||||||||||||||||||||||||
2012-1 Term Loan A | |||||||||||||||||||||||||||||||||
The 2012-1 Term Loan consists of a senior secured term loan with an initial aggregate principal amount of $200.0 million that matures on May 9, 2017. The 2012-1 Term Loan accrues interest, at SBA Senior Finance II’s election, at either the Base Rate plus a margin that ranges from 100 to 150 basis points or the Eurodollar Rate plus a margin that ranges from 200 to 250 basis points, in each case based on the ratio of Consolidated Total Debt to Annualized Borrower EBITDA (calculated in accordance with the Senior Credit Agreement). As of September 30, 2013, the 2012-1 Term Loan was accruing interest at 2.18% per annum. Principal payments on the 2012-1 Term Loan commenced on September 30, 2012 and are being made in quarterly installments on the last day of each March, June, September and December, in an amount equal to $2.5 million for each of the first eight quarters, $3.75 million for the next four quarters and $5.0 million for each quarter thereafter. SBA Senior Finance II has the ability to prepay any or all amounts under the 2012-1 Term Loan without premium or penalty. To the extent not previously repaid, the 2012-1 Term Loan will be due and payable on the maturity date. The 2012-1 Term Loan was issued at par. The Company incurred deferred financing fees of $2.7 million in relation to this transaction which are being amortized through the maturity date. | |||||||||||||||||||||||||||||||||
During the three and nine months ended September 30, 2013, the Company repaid $2.5 million and $7.5 million, respectively, on the 2012-1 Term Loan. As of September 30, 2013, the 2012-1 Term Loan had a principal balance of $187.5 million. | |||||||||||||||||||||||||||||||||
2012-2 Term Loan B | |||||||||||||||||||||||||||||||||
The 2012-2 Term Loan consists of a senior secured term loan with an initial aggregate principal amount of $300.0 million that matures on September 28, 2019. The 2012-2 Term Loan accrues interest, at SBA Senior Finance II’s election, at either the Base Rate plus 175 basis points (with a Base Rate floor of 2%) or Eurodollar Rate plus 275 basis points (with a Eurodollar Rate floor of 1%). As of September 30, 2013, the 2012-2 Term Loan was accruing interest at 3.75% per annum. SBA Senior Finance II has the ability to prepay any or all amounts under the 2012-2 Term Loan without premium or penalty. To the extent not previously repaid, the 2012-2 Term Loan will be due and payable on the maturity date. The 2012-2 Term Loan was issued at 99.75% of par value. The Company incurred deferred financing fees of approximately $3.5 million in relation to this transaction which are being amortized through the maturity date. | |||||||||||||||||||||||||||||||||
During the nine months ended September 30, 2013, the Company repaid $190.0 million on the 2012-2 Term Loan. Included in this amount was a prepayment of $189.3 million made on April 24, 2013 using proceeds from the 2013 Tower Securities. In connection with the prepayment, the Company expensed $2.0 million of net deferred financing fees and $0.4 million of discount related to the debt. As a result of the prepayment, no further scheduled quarterly principal payments are required until the maturity date. As of September 30, 2013, the 2012-2 Term Loan had a principal balance of $110.0 million. The remaining $1.1 million of deferred financing fees, net are being amortized through the maturity date. | |||||||||||||||||||||||||||||||||
Secured Tower Revenue Securities | |||||||||||||||||||||||||||||||||
2010 Tower Securities | |||||||||||||||||||||||||||||||||
On April 16, 2010, a New York common law trust (the “Trust”) issued $680.0 million of 2010-1 Tower Securities and $550.0 million of 2010-2 Tower Securities (together the “2010 Tower Securities”). The 2010-1 Tower Securities have an annual interest rate of 4.254% and the 2010-2 Tower Securities have an annual interest rate of 5.101%. The weighted average annual fixed interest rate of the 2010 Tower Securities is 4.7%, including borrowers’ fees, payable monthly. The anticipated repayment date and the final maturity date for the 2010–1 Tower Securities is April 15, 2015 and April 16, 2040, respectively. The anticipated repayment date and the final maturity date for the 2010–2 Tower Securities is April 17, 2017 and April 15, 2042, respectively. The sole asset of the Trust consists of a non-recourse mortgage loan made in favor of the Borrowers. The Company has incurred deferred financing fees of $18.0 million in relation to this transaction which are being amortized through the anticipated repayment date of each of the 2010 Tower Securities. | |||||||||||||||||||||||||||||||||
2012-1 Tower Securities | |||||||||||||||||||||||||||||||||
On August 9, 2012, the Company, through the Trust, issued $610.0 million of Secured Tower Revenue Securities Series 2012-1 (the “2012-1 Tower Securities”) which have an anticipated repayment date of December 15, 2017 and a final maturity date of December 15, 2042. The fixed interest rate of the 2012-1 Tower Securities is 2.933% per annum, payable monthly. The Company has incurred deferred financing fees of $14.9 million in relation to this transaction which are being amortized through the anticipated repayment date of the 2012-1 Tower Securities. | |||||||||||||||||||||||||||||||||
2013 Tower Securities | |||||||||||||||||||||||||||||||||
On April 18, 2013, the Company, through the Trust, issued $425.0 million of 2.240% Secured Tower Revenue Securities Series 2013-1C which have an anticipated repayment date of April 2018 and a final maturity date of April 2043, $575.0 million of 3.722% Secured Tower Revenue Securities Series 2013-2C which have an anticipated repayment date of April 2023 and a final maturity date of April 2048, and $330.0 million of 3.598% Secured Tower Revenue Securities Series 2013-1D which have an anticipated repayment date of April 2018 and a final maturity date of April 2043 (collectively the “2013 Tower Securities”). The aggregate $1.33 billion of 2013 Tower Securities have a blended interest rate of 3.218% and a weighted average life through the anticipated repayment date of 7.2 years. The Company has incurred deferred financing fees of $25.1 million in relation to this transaction which are being amortized through the anticipated repayment date. | |||||||||||||||||||||||||||||||||
Net proceeds from this offering were used to repay the $100 million outstanding balance under the Company’s Revolving Credit Facility, $310.7 million of the 2011 Term Loan, and $189.3 million of the 2012-2 Term Loan under the Company’s Senior Credit Agreement. The remaining net proceeds were used to satisfy unhedged obligations in connection with the Company’s 1.875% Convertible Senior Notes. | |||||||||||||||||||||||||||||||||
As of September 30, 2013, the Borrowers met the required Debt Service Coverage Ratio and were in compliance with all other covenants as set forth in the mortgage loan agreement. | |||||||||||||||||||||||||||||||||
1.875% Convertible Senior Notes due 2013 | |||||||||||||||||||||||||||||||||
On May 16, 2008, the Company issued $550.0 million of its 1.875% Convertible Senior Notes (the “1.875% Notes”). Interest was payable semi-annually on May 1 and November 1, and the 1.875% Notes matured on May 1, 2013. The 1.875% Notes were convertible, at the holder’s option, into shares of the Company’s Class A common stock, at an initial conversion rate of 24.1196 shares of Class A common stock per $1,000 principal amount of 1.875% Notes (subject to certain customary adjustments), which is equivalent to an initial conversion price of approximately $41.46 per share or a 20% conversion premium based on the last reported sale price of $34.55 per share of Class A common stock on the Nasdaq Global Select Market on May 12, 2008, the purchase agreement date. | |||||||||||||||||||||||||||||||||
Prior to the final settlement period, which began on February 22, 2013, the Company converted $18.1 million in principal of the 1.875% Notes. These notes were converted and settled with the issuance of 437,134 shares of SBA common stock pursuant to the terms of the Indenture. In connection with these conversions, the related convertible note hedges and a portion of the common stock warrants were settled. As a result, the Company received a net 71,054 shares of SBA Class A common stock. | |||||||||||||||||||||||||||||||||
Pursuant to the terms of the indenture, on February 1, 2013, SBA provided notice to the trustee and holders of its 1.875% Notes that it elected to settle 100% of its future conversion obligations pursuant to the Indenture governing the 1.875% Notes in cash, effective February 4, 2013. | |||||||||||||||||||||||||||||||||
During the final settlement period, the Company received additional conversion notices from holders of an aggregate of $450.6 million in principal of the 1.875% Notes (excluding $81.2 million in principal of the notes held by a subsidiary of the Company which were also converted). Pursuant to the terms of the Indenture, these notes were converted at a price of $1,764.02 per $1,000 of principal or an aggregate of $794.8 million which were settled in cash. The remaining $142,000 aggregate principal amount of 1.875% Notes that was not converted matured on May 1, 2013 and settled in cash at principal plus accrued interest. | |||||||||||||||||||||||||||||||||
Concurrently with the settlement of the Company’s conversion obligation, the Company settled the convertible note hedges that the Company had initially entered into at the time the outstanding 1.875% Notes were issued. In connection with the settlement of these hedges, the Company received an aggregate of $182.9 million in cash. | |||||||||||||||||||||||||||||||||
During the three and nine months ended September 30, 2013, the Company paid $18.8 million and $42.4 million in cash, respectively, and issued 200,016 shares to settle the related warrants. These warrants have a strike price of $67.37 per share. Subsequent to September 30, 2013, the Company settled the remaining warrants by paying $55.5 million in cash and issuing 192,516 shares of the Company’s Class A common stock. | |||||||||||||||||||||||||||||||||
During the third quarter, the Company sold its claim against Lehman Brothers, related to a hedge terminated when Lehman Brothers filed for bankruptcy in 2008, for $27.3 million and recorded a gain on the transaction of the same amount. The gain has been recorded within Other Income, net in accompanying Consolidated Statement of Operations. | |||||||||||||||||||||||||||||||||
4.0% Convertible Senior Notes due 2014 | |||||||||||||||||||||||||||||||||
On April 24, 2009, the Company issued $500.0 million of its 4.0% Convertible Senior Notes (“4.0% Notes”) in a private placement transaction. Interest on the 4.0% Notes is payable semi-annually on April 1 and October 1. The maturity date of the 4.0% Notes is October 1, 2014. The Company incurred fees of $11.7 million with the issuance of the 4.0% Notes of which $7.7 million was recorded as deferred financing fees and $4.0 million was recorded as a reduction to shareholders’ equity. | |||||||||||||||||||||||||||||||||
The 4.0% Notes are convertible, at the holder’s option, into shares of the Company’s Class A common stock, at an initial conversion rate of 32.9164 shares of the Company’s Class A common stock per $1,000 principal amount of 4.0% Notes (subject to certain customary adjustments), which is equivalent to an initial conversion price of approximately $30.38 per share or a 22.5% conversion premium based on the last reported sale price of $24.80 per share of our Class A common stock on the Nasdaq Global Select Market on April 20, 2009, the purchase agreement date. | |||||||||||||||||||||||||||||||||
Concurrently with the pricing of the 4.0% Notes, the Company entered into convertible note hedge and warrant transactions with affiliates of certain of the initial purchasers of the convertible notes. The initial strike price of the convertible note hedge transactions relating to the 4.0% Notes is $30.38 per share of the Company’s Class A common stock (the same as the initial conversion price of the 4.0% Notes) and the upper strike price of the warrant transactions is $44.64 per share. | |||||||||||||||||||||||||||||||||
The Company is amortizing the debt discount on the 4.0% Notes utilizing the effective interest method over the life of the 4.0% Notes which increases the effective interest rate of the 4.0% Notes from its coupon rate of 4.0% to 12.9%. As of September 30, 2013 and December 31, 2012, the carrying amount of the equity component related to the 4.0% Notes was $169.0 million. | |||||||||||||||||||||||||||||||||
The 4.0 % Notes are reflected in long-term debt in the Company’s Consolidated Balance Sheets at their carrying value. The following table summarizes the balances for the 4.0% Notes: | |||||||||||||||||||||||||||||||||
As of | As of | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Principal balance | $ | 499,947 | $ | 499,987 | |||||||||||||||||||||||||||||
Debt discount | (41,412 | ) | (69,236 | ) | |||||||||||||||||||||||||||||
Carrying value | $ | 458,535 | $ | 430,751 | |||||||||||||||||||||||||||||
The 4.0% Notes are convertible only under the following circumstances: | |||||||||||||||||||||||||||||||||
• | during any calendar quarter, if the last reported sale price of the Company’s Class A common stock for at least 20 trading days in the 30 consecutive trading day period ending on the last trading day of the preceding calendar quarter is more than 130% of the applicable conversion price per share of Class A common stock on the last day of such preceding calendar quarter, | ||||||||||||||||||||||||||||||||
• | during the five business day period after any ten consecutive trading day period in which the trading price per $1,000 principal amount of the 4.0% Notes for each day in the measurement period was less than 95% of the product of the last reported sale price of Class A common stock and the applicable conversion rate, | ||||||||||||||||||||||||||||||||
• | if specified distributions to holders of Class A common stock are made or specified corporate transactions occur, and | ||||||||||||||||||||||||||||||||
• | at any time on or after July 22, 2014. | ||||||||||||||||||||||||||||||||
Upon conversion, the Company has the right to settle its conversion obligation in cash, shares of Class A common stock, or a combination of cash and shares of its Class A common stock. From time to time, upon notice to the holders of the 4.0% Notes, the Company may change its election regarding the form of consideration that it will use to settle its conversion obligation; provided, however, that the Company is not permitted to change its settlement election after July 21, 2014 for the 4.0% Notes. At the time of the issuance of the 4.0% Notes, the Company elected to settle its conversion obligations in stock. As of September 30, 2013, the Company has not changed its election. | |||||||||||||||||||||||||||||||||
During the three and nine month ended September 30, 2013, the 4.0% Notes were convertible based on the fact that the Company’s Class A common stock closing price per share exceeded $39.49 for at least 20 trading days during the 30 consecutive trading day period during the last month of the prior quarter. As a result of conversions exercised by holders pursuant to the terms of the indenture, during the nine months ended September 30, 2013, the Company converted $40,000 in principal amount of 4.0% Notes and settled its conversion obligation through the issuance of 1,307 shares of Class A common stock. In connection with these conversions, the related convertible note hedges and a portion of the common stock warrants were settled. As a result, the Company received a net 593 shares of SBA Class A common stock. In addition, the Company has received conversion notices totaling $3,000 in principal amount of the 4.0% Notes during the third quarter of 2013, which will settle during the fourth quarter of 2013 in shares of the Company’s Class A common stock and cash for fractional shares. | |||||||||||||||||||||||||||||||||
Senior Notes | |||||||||||||||||||||||||||||||||
8.0% Senior Notes and 8.25% Senior Notes | |||||||||||||||||||||||||||||||||
On July 24, 2009, the Company’s wholly-owned subsidiary, SBA Telecommunications, LLC (formerly known as SBA Telecommunications, Inc.) (“Telecommunications”), issued $750.0 million of unsecured senior notes (the “Senior Notes”), $375.0 million of which were due August 15, 2016 (the “8.0% Notes”) and $375.0 million of which are due August 15, 2019 (the “8.25% Notes”). The 8.0% Notes had an interest rate of 8.00% per annum and were issued at a price of 99.330% of their face value. The 8.25% Notes have an interest rate of 8.25% per annum and were issued at a price of 99.152% of their face value. Interest on each of the Senior Notes was due semi-annually on February 15 and August 15 of each year beginning on February 15, 2010. The Company incurred deferred financing fees of $5.4 million in relation to the 8.25% Notes which are being amortized through the anticipated repayment date. | |||||||||||||||||||||||||||||||||
Net proceeds of this offering were $727.8 million after deducting expenses and the original issue discount. The Company was amortizing the debt discount on the Senior Notes utilizing the effective interest method over the life of the 8.0% Notes and 8.25% Notes. | |||||||||||||||||||||||||||||||||
On April 13, 2012, the Company used the proceeds of an equity offering to redeem $131.3 million in aggregate principal amount of its 8.0% Notes and $131.3 million in aggregate principal amount of its 8.25% Notes and to pay $21.3 million as a premium on the redemption of the notes. The Company expensed $1.5 million and $4.3 million of debt discount and deferred financing fees, respectively, related to the redemption of the notes. | |||||||||||||||||||||||||||||||||
On August 29, 2012, the Company redeemed the remaining $243.8 million principal balance of the 8.0% Notes plus paid $14.6 million in applicable premium on the redemption of the notes. The Company expensed $1.0 million and $3.4 million of debt discount and deferred financing fees, respectively, related to the redemption of the notes. | |||||||||||||||||||||||||||||||||
As of September 30, 2013, the principal balance of the 8.25% Notes was $243.8 million and the carrying value was $242.3 million. | |||||||||||||||||||||||||||||||||
5.75% Senior Notes | |||||||||||||||||||||||||||||||||
On July 13, 2012, Telecommunications issued $800.0 million of unsecured senior notes (the “5.75% Notes”) due July 15, 2020. The Notes accrue interest at a rate of 5.75% and were issued at par. Interest on the 5.75% Notes is due semi-annually on July 15 and January 15 of each year beginning on January 15, 2013. The Company has incurred deferred financing fees of $14.0 million in relation to this transaction which are being amortized through the maturity date. The Company used the net proceeds from this offering to (1) repay all amounts outstanding under the Mobilitie Bridge Loan and (2) repay all amounts outstanding under its Revolving Credit Facility. The remaining proceeds were used for general corporate purposes. | |||||||||||||||||||||||||||||||||
In connection with the issuance of the 5.75% Notes, the Company entered into a Registration Rights Agreement (the “Registration Rights Agreement”) with J.P. Morgan Securities LLC, as representative of the Initial Purchasers. Pursuant to the terms of the Registration Rights Agreement, the Company and Telecommunications filed and declared effective a registration statement with respect to an offer to exchange the 5.75% Notes for new notes guaranteed by the Company registered under the Securities Act of 1933, as amended (the “Securities Act”), on May 31, 2013. The exchange offer was consummated on July 5, 2013. | |||||||||||||||||||||||||||||||||
5.625% Senior Notes | |||||||||||||||||||||||||||||||||
On September 28, 2012, the Company issued $500.0 million of unsecured senior notes (the “5.625% Notes”) due October 1, 2019. The 5.625% Notes accrue interest at a rate of 5.625% per annum and were issued at par. Interest on the 5.625% Notes is due semi-annually on October 1 and April 1 of each year beginning on April 1, 2013. The Company has incurred deferred financing fees of $8.5 million in relation to this transaction which are being amortized through the maturity date. The Company used the proceeds from the issuance of the 5.625% Notes to pay a portion of the cash consideration in the TowerCo II Holdings LLC acquisition. | |||||||||||||||||||||||||||||||||
In connection with the issuance of the 5.625% Notes, the Company entered into a Registration Rights Agreement (the “Registration Rights Agreement”) with J.P. Morgan Securities LLC, as representative of the Initial Purchasers. Pursuant to the terms of the Registration Rights Agreement, the Company filed and declared effective a registration statement with respect to an offer to exchange the 5.625% Notes for new notes registered under the Securities Act on May 31, 2013. The exchange offer was consummated on July 5, 2013. |
Redeemable_Noncontrolling_Inte
Redeemable Noncontrolling Interests | 9 Months Ended | |
Sep. 30, 2013 | ||
Noncontrolling Interest [Abstract] | ' | |
Redeemable Noncontrolling Interests | ' | |
10 | REDEEMABLE NONCONTROLLING INTERESTS | |
In March 2013, the Company acquired the remaining 10% noncontrolling interest in the Central American joint venture for consideration of $6.0 million. This acquisition increased the Company’s ownership to 100% of the joint venture. The remaining $5.7 million balance of non-controlling interest was recognized as an adjustment to additional paid in capital. The acquisition of the noncontrolling interest has been recorded in accordance with ASC 810. |
Shareholders_Equity
Shareholders' Equity | 9 Months Ended | |
Sep. 30, 2013 | ||
Equity [Abstract] | ' | |
Shareholders' Equity | ' | |
11 | SHAREHOLDERS’ EQUITY | |
Common Stock Equivalents | ||
As of September 30, 2013, the Company has potential common stock equivalents related to its outstanding stock options and restricted stock units (see Note 12) and the 1.875% Notes and 4.0% Notes (see Note 9). These potential common stock equivalents were considered in the Company’s diluted earnings (loss) per share calculation (see Note 16). | ||
Stock Repurchases | ||
The Company’s Board of Directors authorized a stock repurchase program on April 27, 2011. This program authorizes the Company to purchase, from time to time, up to $300.0 million of the Company’s outstanding Class A common stock through open market repurchases in compliance with Rule 10b-18 of the Securities Exchange Act of 1934, as amended, and/or in privately negotiated transactions at management’s discretion based on market and business conditions, applicable legal requirements and other factors. This program became effective on April 28, 2011 and will continue until otherwise modified or terminated by the Company’s Board of Directors at any time in the Company’s sole discretion. | ||
During the nine months ended September 30, 2013, the Company did not repurchase any shares in conjunction with the stock repurchase program. As of September 30, 2013, the Company had a remaining authorization to repurchase an additional $150.0 million of its common stock under its current $300.0 million stock repurchase program. |
StockBased_Compensation
Stock-Based Compensation | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Stock-Based Compensation | ' | ||||||||||||
12 | STOCK-BASED COMPENSATION | ||||||||||||
Stock Options | |||||||||||||
The Company records compensation expense for employee stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes option-pricing model with the assumptions included in the table below. The Company uses a combination of historical data and historical volatility to establish the expected volatility. Historical data is used to estimate the expected option life and the expected forfeiture rate. The risk-free rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. The following assumptions were used to estimate the fair value of options granted using the Black-Scholes option-pricing model: | |||||||||||||
For the nine months ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
Risk free interest rate | 0.51% - 1.38% | 0.57% - 0.83% | |||||||||||
Dividend yield | 0.00% | 0.00% | |||||||||||
Expected volatility | 25% - 29% | 53.00% | |||||||||||
Expected lives | 3.9 - 4.8 years | 3.8 - 4.6 years | |||||||||||
The following table summarizes the Company’s activities with respect to its stock options for the nine months ended September 30, 2013: | |||||||||||||
Number | Weighted- | Weighted-Average | |||||||||||
of Shares | Average | Remaining | |||||||||||
Exercise Price | Contractual | ||||||||||||
Per Share | Life (in years) | ||||||||||||
(in thousands) | |||||||||||||
Outstanding at December 31, 2012 | 2,831 | $ | 34.06 | ||||||||||
Granted | 984 | 73.17 | |||||||||||
Exercised | (620 | ) | 27.15 | ||||||||||
Canceled | (57 | ) | 51.73 | ||||||||||
Outstanding at September 30, 2013 | 3,138 | $ | 47.37 | 4.42 | |||||||||
Exercisable at September 30, 2013 | 1,339 | $ | 30.96 | 2.67 | |||||||||
Unvested at September 30, 2013 | 1,799 | $ | 59.58 | 5.72 | |||||||||
The weighted-average fair value of options granted during the nine months ended September 30, 2013 and 2012 was $17.20 and $20.31, respectively. The total intrinsic value for options exercised during the nine months ended September 30, 2013 and 2012 was $30.7 million and $23.0 million, respectively. | |||||||||||||
Restricted Stock Units | |||||||||||||
The following table summarizes the Company’s restricted stock unit activity for the nine months ended September 30, 2013: | |||||||||||||
Number of | Weighted- | ||||||||||||
Units | Average | ||||||||||||
Grant Date | |||||||||||||
Fair Value per share | |||||||||||||
(in thousands) | |||||||||||||
Outstanding at December 31, 2012 | 294 | $ | 43.27 | ||||||||||
Granted | 122 | 73.44 | |||||||||||
Restriction Lapse | (99 | ) | 41.86 | ||||||||||
Forfeited/Canceled | (11 | ) | 48.5 | ||||||||||
Outstanding at September 30, 2013 | 306 | $ | 55.54 | ||||||||||
Income_Taxes
Income Taxes | 9 Months Ended | |
Sep. 30, 2013 | ||
Income Tax Disclosure [Abstract] | ' | |
Income Taxes | ' | |
13 | INCOME TAXES | |
The Company had U.S. taxable losses during the nine months ended September 30, 2013 and 2012, and, as a result, federal and state net operating loss carry-forwards have been generated. The U.S. federal and state net operating loss carry-forwards of the Company have a full valuation allowance as management believes it is not “more-likely-than-not” that the Company will generate sufficient taxable income in future periods to recognize the losses. However, a foreign tax provision is recognized because certain international subsidiaries of the Company have profitable operations or a net deferred tax liability position. |
Segment_Data
Segment Data | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Data | ' | ||||||||||||||||
14 | SEGMENT DATA | ||||||||||||||||
The Company operates principally in two business segments: site leasing and site development. The Company’s reportable 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. During the fourth quarter of 2012, the Company combined the reporting of its site development segments, as the nature of the services were complementary to one another. All prior periods presented have been restated to conform to the current year presentation. | |||||||||||||||||
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 (in thousands): | |||||||||||||||||
Not | |||||||||||||||||
Site | Site | Identified by | |||||||||||||||
Leasing | Development | Segment (1) | Total | ||||||||||||||
Three months ended September 30, 2013 | |||||||||||||||||
Revenues | $ | 287,483 | $ | 44,611 | $ | — | $ | 332,094 | |||||||||
Cost of revenues (2) | $ | 68,042 | $ | 35,253 | $ | — | $ | 103,295 | |||||||||
Depreciation, amortization and accretion | $ | 132,074 | $ | 731 | $ | 476 | $ | 133,281 | |||||||||
Operating income (loss) | $ | 59,757 | $ | 6,685 | $ | (2,540 | ) | $ | 63,902 | ||||||||
Capital expenditures (3) | $ | 122,268 | $ | 2,538 | $ | 565 | $ | 125,371 | |||||||||
Three months ended September 30, 2012 | |||||||||||||||||
Revenues | $ | 208,828 | $ | 29,778 | $ | — | $ | 238,606 | |||||||||
Cost of revenues (2) | $ | 46,621 | $ | 25,062 | $ | — | $ | 71,683 | |||||||||
Depreciation, amortization and accretion | $ | 100,107 | $ | 561 | $ | 344 | $ | 101,012 | |||||||||
Operating income (loss) | $ | 42,420 | $ | 1,735 | $ | (3,084 | ) | $ | 41,071 | ||||||||
Capital expenditures (3) | $ | 57,508 | $ | 708 | $ | — | $ | 58,216 | |||||||||
Nine months ended September 30, 2013 | |||||||||||||||||
Revenues | $ | 840,488 | $ | 128,982 | $ | — | $ | 969,470 | |||||||||
Cost of revenues (2) | $ | 203,927 | $ | 103,788 | $ | — | $ | 307,715 | |||||||||
Depreciation, amortization and accretion | $ | 396,824 | $ | 1,762 | $ | 1,420 | $ | 400,006 | |||||||||
Operating income (loss) | $ | 161,101 | $ | 17,615 | $ | (8,515 | ) | $ | 170,201 | ||||||||
Capital expenditures (3) | $ | 446,514 | $ | 5,185 | $ | 1,278 | $ | 452,977 | |||||||||
Nine months ended September 30, 2012 | |||||||||||||||||
Revenues | $ | 585,332 | $ | 74,911 | $ | — | $ | 660,243 | |||||||||
Cost of revenues (2) | $ | 126,787 | $ | 63,294 | $ | — | $ | 190,081 | |||||||||
Depreciation, amortization and accretion | $ | 274,541 | $ | 1,596 | $ | 973 | $ | 277,110 | |||||||||
Operating income (loss) | $ | 120,224 | $ | 2,625 | $ | (6,751 | ) | $ | 116,098 | ||||||||
Capital expenditures (3) | $ | 1,056,215 | $ | 2,975 | $ | 495 | $ | 1,059,685 | |||||||||
Assets | |||||||||||||||||
As of September 30, 2013 | $ | 6,219,735 | $ | 78,738 | $ | 285,955 | $ | 6,584,428 | |||||||||
As of December 31, 2012 | $ | 6,422,577 | $ | 58,804 | $ | 114,236 | $ | 6,595,617 | |||||||||
-1 | Assets not identified by segment consist primarily of general corporate assets. | ||||||||||||||||
-2 | Excludes depreciation, amortization and accretion. | ||||||||||||||||
-3 | Includes cash paid for capital expenditures and acquisitions and related earn-outs and vehicle capital lease additions. | ||||||||||||||||
For the nine months ended September 30, 2013 and 2012, the Company’s leasing revenues generated outside of the United States were 7.0% and 5.9%, respectively, of total consolidated site leasing revenues. As of September 30, 2013 and December 31, 2012, the Company’s total assets outside of the United States were 11.3% and 12.2%, respectively, of total consolidated assets. Total assets held outside of the United States at December 31, 2012 included $178.1 million of cash in Brazil, which was part of the Vivo acquisition, and paid in January 2013. |
Concentration_of_Credit_Risk
Concentration of Credit Risk | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Risks And Uncertainties [Abstract] | ' | ||||||||||||||||
Concentration of Credit Risk | ' | ||||||||||||||||
15 | CONCENTRATION OF CREDIT RISK | ||||||||||||||||
The Company’s credit risks consist primarily of accounts receivable with national, regional, and local wireless service providers and federal and state government agencies. The Company performs periodic credit evaluations of its customers’ financial condition and provides allowances for doubtful accounts, as required, based upon factors surrounding the credit risk of specific customers, historical trends, and other information. The Company generally does not require collateral. | |||||||||||||||||
The following is a list of significant customers (representing at least 10% of revenue for the periods reported) and the percentage of total revenue for the specified time periods derived from such customers: | |||||||||||||||||
For the three months | For the nine months | ||||||||||||||||
Site Leasing Revenue | ended September 30, | ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Sprint (1) | 28.2 | % | 24.2 | % | 28.5 | % | 24.9 | % | |||||||||
AT&T | 22.7 | % | 23 | % | 22.3 | % | 23.8 | % | |||||||||
T-Mobile(2) | 16.5 | % | 18 | % | 16.7 | % | 16.6 | % | |||||||||
Verizon | 12.3 | % | 13.3 | % | 12.2 | % | 13.7 | % | |||||||||
For the three months | For the nine months | ||||||||||||||||
Site Development Revenue | ended September 30, | ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Ericsson, Inc. | 32.2 | % | 23.6 | % | 38.1 | % | 19.7 | % | |||||||||
T-Mobile(2) | 10.5 | % | 2.5 | % | 7.9 | % | 8.3 | % | |||||||||
Alcatel-Lucent | 8.1 | % | 8.3 | % | 10.1 | % | 6.1 | % | |||||||||
Nsoro | 2.1 | % | 17.3 | % | 3.1 | % | 19.9 | % | |||||||||
-1 | Prior year amounts have been adjusted to reflect the merger of Sprint and Clearwire. | ||||||||||||||||
-2 | Prior year amounts have been adjusted to reflect the merger of T-Mobile and Metro PCS. | ||||||||||||||||
At September 30, 2013, five significant customers comprised 53.9% of total gross accounts receivable compared to five significant customers which comprised 55.5% of total gross accounts receivable at December 31, 2012. |
Earnings_Per_Share
Earnings Per Share | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Earnings Per Share | ' | ||||||||||||||||
16 | EARNINGS PER SHARE | ||||||||||||||||
Basic earnings per share was computed by dividing net income from continuing operations attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income from continuing operations attributable to common shareholders by the weighted-average number of shares of Common Stock outstanding and any dilutive Common Stock equivalents, including unvested restricted stock and shares issuable upon exercise of stock options and Common Stock warrants as determined under the “Treasury Stock” method. | |||||||||||||||||
The following table sets forth basic and diluted income from continuing operations per common share for the three and nine months ended September 30, 2013 and 2012 (in thousands, except per share data): | |||||||||||||||||
For the three months | For the nine months | ||||||||||||||||
ended September 30, | ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Numerator: | |||||||||||||||||
Net income (loss) from continuing operations | $ | 21,531 | $ | (53,668 | ) | $ | (36,747 | ) | $ | (131,153 | ) | ||||||
Net income from discontinued operations | $ | — | $ | 969 | $ | — | $ | 2,349 | |||||||||
Denominator: | |||||||||||||||||
Basic weighted-average shares outstanding | 127,885 | 121,689 | 127,555 | 118,159 | |||||||||||||
Dilutive impact of stock options and restricted shares | 1,195 | — | — | — | |||||||||||||
Dilutive impact of common stock warrants | 7,832 | — | — | — | |||||||||||||
Diluted weighted-average shares outstanding | 136,912 | 121,689 | 127,555 | 118,159 | |||||||||||||
Earnings (loss) per share attributable to continuing operations: | |||||||||||||||||
Basic | $ | 0.17 | $ | (0.44 | ) | $ | (0.29 | ) | $ | (1.11 | ) | ||||||
Diluted | $ | 0.16 | $ | (0.44 | ) | $ | (0.29 | ) | $ | (1.11 | ) | ||||||
Earnings per share attributable to discontinued operations: | |||||||||||||||||
Basic and diluted | $ | — | $ | 0.01 | $ | — | $ | 0.02 |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Summary of Fair Values, Principal Balances, and Carrying Values of Company's Debt Instruments | ' | ||||||||||||||||||||||||
The following table reflects fair values, principal balances, and carrying values of the Company’s debt instruments (see Note 9). | |||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
Principal | Carrying | Principal | Carrying | ||||||||||||||||||||||
Fair Value | Balance | Value | Fair Value | Balance | Value | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
1.875% Convertible Senior Notes | $ | — | $ | — | $ | — | $ | 714,096 | $ | 468,836 | $ | 457,351 | |||||||||||||
4.000% Convertible Senior Notes | 1,329,234 | 499,947 | 458,535 | 1,060,622 | 499,987 | 430,751 | |||||||||||||||||||
8.250% Senior Notes | 263,250 | 243,750 | 242,340 | 272,391 | 243,750 | 242,205 | |||||||||||||||||||
5.625% Senior Notes | 490,000 | 500,000 | 500,000 | 523,750 | 500,000 | 500,000 | |||||||||||||||||||
5.750% Senior Notes | 792,000 | 800,000 | 800,000 | 848,000 | 800,000 | 800,000 | |||||||||||||||||||
4.254% Secured Tower Revenue | 692,342 | 680,000 | 680,000 | 713,619 | 680,000 | 680,000 | |||||||||||||||||||
Securities Series 2010-1 | |||||||||||||||||||||||||
5.101% Secured Tower Revenue | 592,257 | 550,000 | 550,000 | 621,379 | 550,000 | 550,000 | |||||||||||||||||||
Securities Series 2010-2 | |||||||||||||||||||||||||
2.933% Secured Tower Revenue | 614,008 | 610,000 | 610,000 | 635,614 | 610,000 | 610,000 | |||||||||||||||||||
Securities Series 2012-1 | |||||||||||||||||||||||||
2.240% Secured Tower Revenue | 411,940 | 425,000 | 425,000 | — | — | — | |||||||||||||||||||
Securities Series 2013-1C | |||||||||||||||||||||||||
3.722% Secured Tower Revenue | 541,805 | 575,000 | 575,000 | — | — | — | |||||||||||||||||||
Securities Series 2013-2C | |||||||||||||||||||||||||
3.598% Secured Tower Revenue | 321,651 | 330,000 | 330,000 | — | — | — | |||||||||||||||||||
Securities Series 2013-1D | |||||||||||||||||||||||||
Revolving Credit Facility | — | — | — | 100,000 | 100,000 | 100,000 | |||||||||||||||||||
2011 Term Loan B | 180,303 | 180,529 | 180,218 | 493,731 | 492,500 | 491,518 | |||||||||||||||||||
2012-1 Term Loan A | 187,031 | 187,500 | 187,500 | 194,513 | 195,000 | 195,000 | |||||||||||||||||||
2012-2 Term Loan B | 109,834 | 109,971 | 109,735 | 300,750 | 300,000 | 299,278 | |||||||||||||||||||
Total debt | $ | 6,525,655 | $ | 5,691,697 | $ | 5,648,328 | $ | 6,478,465 | $ | 5,440,073 | $ | 5,356,103 |
Restricted_Cash_Tables
Restricted Cash (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Text Block [Abstract] | ' | ||||||||||||
Schedule of Restricted Cash | ' | ||||||||||||
Restricted cash consists of the following: | |||||||||||||
As of | As of | ||||||||||||
September 30, 2013 | December 31, 2012 | Included on Balance Sheet | |||||||||||
(in thousands) | |||||||||||||
Securitization escrow accounts | $ | 48,115 | $ | 26,774 | Restricted cash - current asset | ||||||||
Payment and performance bonds | 939 | 934 | Restricted cash - current asset | ||||||||||
Surety bonds and workers compensation | 11,991 | 11,989 | Other assets - noncurrent | ||||||||||
Total restricted cash | $ | 61,045 | $ | 39,697 | |||||||||
Acquisitions_Tables
Acquisitions (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Business Combinations [Abstract] | ' | ||||||||||||||||
Schedule of Acquisition Capital Expenditures | ' | ||||||||||||||||
The following table summarizes the Company’s cash acquisition capital expenditures: | |||||||||||||||||
For the three months | For the nine months | ||||||||||||||||
ended September 30, | ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands) | |||||||||||||||||
Towers and related intangible assets | $ | 80,326 | $ | 21,736 | $ | 311,190 | $ | 951,331 | |||||||||
Ground lease land purchases | 11,320 | 9,154 | 35,864 | 25,907 | |||||||||||||
Earnouts | — | 708 | 1,311 | 5,751 | |||||||||||||
Total acquisition capital expenditures | $ | 91,646 | $ | 31,598 | $ | 348,365 | $ | 982,989 | |||||||||
Discontinued_Operations_Tables
Discontinued Operations (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Discontinued Operations And Disposal Groups [Abstract] | ' | ||||||||||||||||
Components of Discontinued Operations | ' | ||||||||||||||||
The key components of discontinued operations were as follows: | |||||||||||||||||
For the three months | For the nine months | ||||||||||||||||
ended September 30, | ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
(in thousands) | |||||||||||||||||
Site leasing revenue | $ | — | $ | 2,121 | $ | — | $ | 4,775 | |||||||||
Income from discontinued operations, net of taxes | — | 969 | — | 2,349 |
Intangible_Assets_Net_Tables
Intangible Assets, Net (Tables) | 9 Months Ended | ||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||
Goodwill And Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||
Gross and Net Carrying Amounts for Each Major Class of Intangible Assets | ' | ||||||||||||||||||||||||
The following table provides the gross and net carrying amounts for each major class of intangible assets: | |||||||||||||||||||||||||
As of September 30, 2013 | As of December 31, 2012 | ||||||||||||||||||||||||
Gross carrying | Accumulated | Net book | Gross carrying | Accumulated | Net book | ||||||||||||||||||||
amount | amortization | value | amount | amortization | value | ||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Current contract intangibles | $ | 2,841,948 | $ | (605,767 | ) | $ | 2,236,181 | $ | 2,744,968 | $ | (462,016 | ) | $ | 2,282,952 | |||||||||||
Network location intangibles | 1,193,367 | (307,209 | ) | 886,158 | 1,101,566 | (250,385 | ) | 851,181 | |||||||||||||||||
Intangible assets, net | $ | 4,035,315 | $ | (912,976 | ) | $ | 3,122,339 | $ | 3,846,534 | $ | (712,401 | ) | $ | 3,134,133 | |||||||||||
Property_and_Equipment_Net_Tab
Property and Equipment, Net (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Property Plant And Equipment [Abstract] | ' | ||||||||
Property and Equipment, Net (Including Assets Held Under Capital Leases) | ' | ||||||||
Property and equipment, net (including assets held under capital leases) consists of the following: | |||||||||
As of | As of | ||||||||
September 30, 2013 | December 31, 2012 | ||||||||
(in thousands) | |||||||||
Towers and related components | $ | 3,809,069 | $ | 3,757,859 | |||||
Construction-in-process | 21,022 | 25,454 | |||||||
Furniture, equipment and vehicles | 39,483 | 35,278 | |||||||
Land, buildings and improvements | 327,864 | 290,931 | |||||||
4,197,438 | 4,109,522 | ||||||||
Less: accumulated depreciation | (1,618,799 | ) | (1,438,205 | ) | |||||
Property and equipment, net | $ | 2,578,639 | $ | 2,671,317 | |||||
Costs_and_Estimated_Earnings_o1
Costs and Estimated Earnings on Uncompleted Contracts (Tables) | 9 Months Ended | ||||||||
Sep. 30, 2013 | |||||||||
Contractors [Abstract] | ' | ||||||||
Summary of Costs and Estimated Earnings on Uncompleted Contracts | ' | ||||||||
Costs and estimated earnings on uncompleted contracts consist of the following: | |||||||||
As of | As of | ||||||||
September 30, 2013 | December 31, 2012 | ||||||||
(in thousands) | |||||||||
Cost incurred on uncompleted contracts | $ | 88,242 | $ | 55,349 | |||||
Estimated earnings | 34,668 | 20,883 | |||||||
Billings to date | (92,120 | ) | (53,708 | ) | |||||
$ | 30,790 | $ | 22,524 | ||||||
Costs and Estimated Earnings on Uncompleted Contracts Accompanying Consolidated Balance Sheets | ' | ||||||||
These amounts are included on the accompanying Consolidated Balance Sheet under the following captions: | |||||||||
As of | As of | ||||||||
September 30, 2013 | December 31, 2012 | ||||||||
(in thousands) | |||||||||
Costs and estimated earnings in excess of billings on uncompleted contracts | $ | 34,090 | $ | 23,644 | |||||
Other current liabilities (Billings in excess of costs and estimated earnings on uncompleted contracts) | (3,300 | ) | (1,120 | ) | |||||
$ | 30,790 | $ | 22,524 | ||||||
Debt_Tables
Debt (Tables) | 9 Months Ended | ||||||||||||||||||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||||||||||||||||||
Carrying Values of Debt | ' | ||||||||||||||||||||||||||||||||
The carrying and principal values of debt consist of the following (in thousands): | |||||||||||||||||||||||||||||||||
As of | As of | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
Maturity | Principal | Carrying | Principal | Carrying | |||||||||||||||||||||||||||||
Date | Balance | Value | Balance | Value | |||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
1.875% Convertible Senior Notes | 1-May-13 | $ | — | $ | — | $ | 468,836 | $ | 457,351 | ||||||||||||||||||||||||
4.000% Convertible Senior Notes | Oct. 1, 2014 | 499,947 | 458,535 | 499,987 | 430,751 | ||||||||||||||||||||||||||||
8.250% Senior Notes | Aug. 15, 2019 | 243,750 | 242,340 | 243,750 | 242,205 | ||||||||||||||||||||||||||||
5.625% Senior Notes | Oct. 1, 2019 | 500,000 | 500,000 | 500,000 | 500,000 | ||||||||||||||||||||||||||||
5.750% Senior Notes | 15-Jul-20 | 800,000 | 800,000 | 800,000 | 800,000 | ||||||||||||||||||||||||||||
4.254% Secured Tower Revenue Securities Series 2010-1 | April 15, 2015 | 680,000 | 680,000 | 680,000 | 680,000 | ||||||||||||||||||||||||||||
5.101% Secured Tower Revenue Securities Series 2010-2 | 17-Apr-17 | 550,000 | 550,000 | 550,000 | 550,000 | ||||||||||||||||||||||||||||
2.933% Secured Tower Revenue Securities Series 2012-1 | Dec. 15, 2017 | 610,000 | 610,000 | 610,000 | 610,000 | ||||||||||||||||||||||||||||
2.240% Secured Tower Revenue Securities Series 2013-1C | 17-Apr-18 | 425,000 | 425,000 | — | — | ||||||||||||||||||||||||||||
3.722% Secured Tower Revenue Securities Series 2013-2C | 17-Apr-23 | 575,000 | 575,000 | — | — | ||||||||||||||||||||||||||||
3.598% Secured Tower Revenue Securities Series 2013-1D | 17-Apr-18 | 330,000 | 330,000 | — | — | ||||||||||||||||||||||||||||
Revolving Credit Facility | 9-May-17 | — | — | 100,000 | 100,000 | ||||||||||||||||||||||||||||
2011 Term Loan B | 30-Jun-18 | 180,529 | 180,218 | 492,500 | 491,518 | ||||||||||||||||||||||||||||
2012-1 Term Loan A | 9-May-17 | 187,500 | 187,500 | 195,000 | 195,000 | ||||||||||||||||||||||||||||
2012-2 Term Loan B | Sept. 28, 2019 | 109,971 | 109,735 | 300,000 | 299,278 | ||||||||||||||||||||||||||||
Total debt | 5,691,697 | 5,648,328 | 5,440,073 | 5,356,103 | |||||||||||||||||||||||||||||
Less: current maturities of long-term debt | (11,250 | ) | (475,351 | ) | |||||||||||||||||||||||||||||
Total long-term debt, net of current maturities | $ | 5,637,078 | $ | 4,880,752 | |||||||||||||||||||||||||||||
Schedule of Cash and Non-Cash Interest Expense | ' | ||||||||||||||||||||||||||||||||
The table below reflects cash and non-cash interest expense amounts recognized by debt instrument for the periods presented: | |||||||||||||||||||||||||||||||||
Three months ended | Three months ended | Nine months ended | Nine months ended | ||||||||||||||||||||||||||||||
September 30, 2013 | September 30, 2012 | September 30, 2013 | September 30, 2012 | ||||||||||||||||||||||||||||||
Cash | Non-cash | Cash | Non-cash | Cash | Non-cash | Cash | Non-cash | ||||||||||||||||||||||||||
Interest | Interest | Interest | Interest | Interest | Interest | Interest | Interest | ||||||||||||||||||||||||||
(in thousands) | (in thousands) | (in thousands) | (in thousands) | ||||||||||||||||||||||||||||||
1.875% Convertible Senior Notes | $ | — | $ | — | $ | 2,508 | $ | 9,339 | $ | 2,670 | $ | 10,434 | $ | 7,523 | $ | 27,375 | |||||||||||||||||
4.0% Convertible Senior Notes | 4,999 | 9,570 | 5,000 | 8,412 | 14,999 | 28,446 | 15,000 | 24,448 | |||||||||||||||||||||||||
8.0% Senior Notes | — | — | 3,142 | 35 | — | — | 15,867 | 174 | |||||||||||||||||||||||||
8.25% Senior Notes | 5,027 | 46 | 5,027 | 42 | 15,082 | 135 | 18,150 | 149 | |||||||||||||||||||||||||
5.625% Senior Notes | 7,031 | — | 234 | — | 21,094 | — | 234 | — | |||||||||||||||||||||||||
5.75% Senior Notes | 11,500 | — | 10,094 | — | 34,500 | — | 10,094 | — | |||||||||||||||||||||||||
2010 Secured Tower Revenue Securities | 14,349 | — | 14,344 | — | 43,037 | — | 43,032 | — | |||||||||||||||||||||||||
2012 Secured Tower Revenue Securities | 4,521 | — | 2,612 | — | 13,564 | — | 2,612 | — | |||||||||||||||||||||||||
2013 Secured Tower Revenue Securities | 10,804 | — | — | — | 19,588 | — | — | — | |||||||||||||||||||||||||
Revolving Credit Facility | 856 | — | 849 | — | 3,338 | — | 3,558 | — | |||||||||||||||||||||||||
2011 Term Loan | 1,730 | 16 | 4,743 | 45 | 8,802 | 85 | 14,163 | 134 | |||||||||||||||||||||||||
2012-1 Term Loan | 1,123 | — | 1,403 | — | 3,516 | — | 2,262 | — | |||||||||||||||||||||||||
2012-2 Term Loan | 1,054 | 10 | 94 | 1 | 5,362 | 51 | 94 | 1 | |||||||||||||||||||||||||
Mobilitie Bridge Loan | — | — | 499 | — | — | — | 4,239 | — | |||||||||||||||||||||||||
Other | (7 | ) | — | 29 | — | 17 | — | (100 | ) | — | |||||||||||||||||||||||
Total | $ | 62,987 | $ | 9,642 | $ | 50,578 | $ | 17,874 | $ | 185,569 | $ | 39,151 | $ | 136,728 | $ | 52,281 | |||||||||||||||||
4.0% Convertible Senior Notes [Member] | ' | ||||||||||||||||||||||||||||||||
Summary of Long-Term Debt | ' | ||||||||||||||||||||||||||||||||
The following table summarizes the balances for the 4.0% Notes: | |||||||||||||||||||||||||||||||||
As of | As of | ||||||||||||||||||||||||||||||||
September 30, 2013 | December 31, 2012 | ||||||||||||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||||||||||
Principal balance | $ | 499,947 | $ | 499,987 | |||||||||||||||||||||||||||||
Debt discount | (41,412 | ) | (69,236 | ) | |||||||||||||||||||||||||||||
Carrying value | $ | 458,535 | $ | 430,751 | |||||||||||||||||||||||||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 9 Months Ended | ||||||||||||
Sep. 30, 2013 | |||||||||||||
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ||||||||||||
Schedule of Assumptions Used to Estimate Fair Value of Stock Options | ' | ||||||||||||
The following assumptions were used to estimate the fair value of options granted using the Black-Scholes option-pricing model: | |||||||||||||
For the nine months ended September 30, | |||||||||||||
2013 | 2012 | ||||||||||||
Risk free interest rate | 0.51% - 1.38% | 0.57% - 0.83% | |||||||||||
Dividend yield | 0.00% | 0.00% | |||||||||||
Expected volatility | 25% - 29% | 53.00% | |||||||||||
Expected lives | 3.9 - 4.8 years | 3.8 - 4.6 years | |||||||||||
Company's Activities with Respect to its Stock Options | ' | ||||||||||||
The following table summarizes the Company’s activities with respect to its stock options for the nine months ended September 30, 2013: | |||||||||||||
Number | Weighted- | Weighted-Average | |||||||||||
of Shares | Average | Remaining | |||||||||||
Exercise Price | Contractual | ||||||||||||
Per Share | Life (in years) | ||||||||||||
(in thousands) | |||||||||||||
Outstanding at December 31, 2012 | 2,831 | $ | 34.06 | ||||||||||
Granted | 984 | 73.17 | |||||||||||
Exercised | (620 | ) | 27.15 | ||||||||||
Canceled | (57 | ) | 51.73 | ||||||||||
Outstanding at September 30, 2013 | 3,138 | $ | 47.37 | 4.42 | |||||||||
Exercisable at September 30, 2013 | 1,339 | $ | 30.96 | 2.67 | |||||||||
Unvested at September 30, 2013 | 1,799 | $ | 59.58 | 5.72 | |||||||||
Company's Restricted Stock Unit Activity | ' | ||||||||||||
The following table summarizes the Company’s restricted stock unit activity for the nine months ended September 30, 2013: | |||||||||||||
Number of | Weighted- | ||||||||||||
Units | Average | ||||||||||||
Grant Date | |||||||||||||
Fair Value per share | |||||||||||||
(in thousands) | |||||||||||||
Outstanding at December 31, 2012 | 294 | $ | 43.27 | ||||||||||
Granted | 122 | 73.44 | |||||||||||
Restriction Lapse | (99 | ) | 41.86 | ||||||||||
Forfeited/Canceled | (11 | ) | 48.5 | ||||||||||
Outstanding at September 30, 2013 | 306 | $ | 55.54 | ||||||||||
Segment_Data_Tables
Segment Data (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Segment Reporting [Abstract] | ' | ||||||||||||||||
Segment Reporting Information Disclosure | ' | ||||||||||||||||
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 (in thousands): | |||||||||||||||||
Not | |||||||||||||||||
Site | Site | Identified by | |||||||||||||||
Leasing | Development | Segment (1) | Total | ||||||||||||||
Three months ended September 30, 2013 | |||||||||||||||||
Revenues | $ | 287,483 | $ | 44,611 | $ | — | $ | 332,094 | |||||||||
Cost of revenues (2) | $ | 68,042 | $ | 35,253 | $ | — | $ | 103,295 | |||||||||
Depreciation, amortization and accretion | $ | 132,074 | $ | 731 | $ | 476 | $ | 133,281 | |||||||||
Operating income (loss) | $ | 59,757 | $ | 6,685 | $ | (2,540 | ) | $ | 63,902 | ||||||||
Capital expenditures (3) | $ | 122,268 | $ | 2,538 | $ | 565 | $ | 125,371 | |||||||||
Three months ended September 30, 2012 | |||||||||||||||||
Revenues | $ | 208,828 | $ | 29,778 | $ | — | $ | 238,606 | |||||||||
Cost of revenues (2) | $ | 46,621 | $ | 25,062 | $ | — | $ | 71,683 | |||||||||
Depreciation, amortization and accretion | $ | 100,107 | $ | 561 | $ | 344 | $ | 101,012 | |||||||||
Operating income (loss) | $ | 42,420 | $ | 1,735 | $ | (3,084 | ) | $ | 41,071 | ||||||||
Capital expenditures (3) | $ | 57,508 | $ | 708 | $ | — | $ | 58,216 | |||||||||
Nine months ended September 30, 2013 | |||||||||||||||||
Revenues | $ | 840,488 | $ | 128,982 | $ | — | $ | 969,470 | |||||||||
Cost of revenues (2) | $ | 203,927 | $ | 103,788 | $ | — | $ | 307,715 | |||||||||
Depreciation, amortization and accretion | $ | 396,824 | $ | 1,762 | $ | 1,420 | $ | 400,006 | |||||||||
Operating income (loss) | $ | 161,101 | $ | 17,615 | $ | (8,515 | ) | $ | 170,201 | ||||||||
Capital expenditures (3) | $ | 446,514 | $ | 5,185 | $ | 1,278 | $ | 452,977 | |||||||||
Nine months ended September 30, 2012 | |||||||||||||||||
Revenues | $ | 585,332 | $ | 74,911 | $ | — | $ | 660,243 | |||||||||
Cost of revenues (2) | $ | 126,787 | $ | 63,294 | $ | — | $ | 190,081 | |||||||||
Depreciation, amortization and accretion | $ | 274,541 | $ | 1,596 | $ | 973 | $ | 277,110 | |||||||||
Operating income (loss) | $ | 120,224 | $ | 2,625 | $ | (6,751 | ) | $ | 116,098 | ||||||||
Capital expenditures (3) | $ | 1,056,215 | $ | 2,975 | $ | 495 | $ | 1,059,685 | |||||||||
Assets | |||||||||||||||||
As of September 30, 2013 | $ | 6,219,735 | $ | 78,738 | $ | 285,955 | $ | 6,584,428 | |||||||||
As of December 31, 2012 | $ | 6,422,577 | $ | 58,804 | $ | 114,236 | $ | 6,595,617 | |||||||||
-1 | Assets not identified by segment consist primarily of general corporate assets. | ||||||||||||||||
-2 | Excludes depreciation, amortization and accretion. | ||||||||||||||||
-3 | Includes cash paid for capital expenditures and acquisitions and related earn-outs and vehicle capital lease additions. |
Concentration_of_Credit_Risk_T
Concentration of Credit Risk (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Risks And Uncertainties [Abstract] | ' | ||||||||||||||||
Summary of Significant Customers and Percentage of Total Revenue for Specified Time Periods Derived from Such Customers | ' | ||||||||||||||||
The following is a list of significant customers (representing at least 10% of revenue for the periods reported) and the percentage of total revenue for the specified time periods derived from such customers: | |||||||||||||||||
For the three months | For the nine months | ||||||||||||||||
Site Leasing Revenue | ended September 30, | ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Sprint (1) | 28.2 | % | 24.2 | % | 28.5 | % | 24.9 | % | |||||||||
AT&T | 22.7 | % | 23 | % | 22.3 | % | 23.8 | % | |||||||||
T-Mobile(2) | 16.5 | % | 18 | % | 16.7 | % | 16.6 | % | |||||||||
Verizon | 12.3 | % | 13.3 | % | 12.2 | % | 13.7 | % | |||||||||
For the three months | For the nine months | ||||||||||||||||
Site Development Revenue | ended September 30, | ended September 30, | |||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Ericsson, Inc. | 32.2 | % | 23.6 | % | 38.1 | % | 19.7 | % | |||||||||
T-Mobile(2) | 10.5 | % | 2.5 | % | 7.9 | % | 8.3 | % | |||||||||
Alcatel-Lucent | 8.1 | % | 8.3 | % | 10.1 | % | 6.1 | % | |||||||||
Nsoro | 2.1 | % | 17.3 | % | 3.1 | % | 19.9 | % | |||||||||
-1 | Prior year amounts have been adjusted to reflect the merger of Sprint and Clearwire. | ||||||||||||||||
-2 | Prior year amounts have been adjusted to reflect the merger of T-Mobile and Metro PCS. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 9 Months Ended | ||||||||||||||||
Sep. 30, 2013 | |||||||||||||||||
Earnings Per Share [Abstract] | ' | ||||||||||||||||
Weighted-Average Shares of Common Stock Outstanding Used in Calculation of Basic and Diluted Earnings Per Share | ' | ||||||||||||||||
The following table sets forth basic and diluted income from continuing operations per common share for the three and nine months ended September 30, 2013 and 2012 (in thousands, except per share data): | |||||||||||||||||
For the three months | For the nine months | ||||||||||||||||
ended September 30, | ended September 30, | ||||||||||||||||
2013 | 2012 | 2013 | 2012 | ||||||||||||||
Numerator: | |||||||||||||||||
Net income (loss) from continuing operations | $ | 21,531 | $ | (53,668 | ) | $ | (36,747 | ) | $ | (131,153 | ) | ||||||
Net income from discontinued operations | $ | — | $ | 969 | $ | — | $ | 2,349 | |||||||||
Denominator: | |||||||||||||||||
Basic weighted-average shares outstanding | 127,885 | 121,689 | 127,555 | 118,159 | |||||||||||||
Dilutive impact of stock options and restricted shares | 1,195 | — | — | — | |||||||||||||
Dilutive impact of common stock warrants | 7,832 | — | — | — | |||||||||||||
Diluted weighted-average shares outstanding | 136,912 | 121,689 | 127,555 | 118,159 | |||||||||||||
Earnings (loss) per share attributable to continuing operations: | |||||||||||||||||
Basic | $ | 0.17 | $ | (0.44 | ) | $ | (0.29 | ) | $ | (1.11 | ) | ||||||
Diluted | $ | 0.16 | $ | (0.44 | ) | $ | (0.29 | ) | $ | (1.11 | ) | ||||||
Earnings per share attributable to discontinued operations: | |||||||||||||||||
Basic and diluted | $ | — | $ | 0.01 | $ | — | $ | 0.02 |
Fair_Value_Measurements_Additi
Fair Value Measurements - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Fair Value Disclosures [Abstract] | ' | ' | ' | ' | ' |
Accrued earnouts | $26 | ' | $26 | ' | $9.80 |
Performance targets, maximum potential obligation | 39.4 | ' | 39.4 | ' | ' |
Impairment charge recognized, related to long-lived assets | 6.2 | 1.6 | 16.4 | 2.6 | ' |
Certificate of deposits | 4.7 | ' | 4.7 | ' | 5.3 |
Held-to-maturity investments, carrying value | 1.1 | ' | 1.1 | ' | 1.3 |
Held-to-maturity investments, fair value | $1.30 | ' | $1.30 | ' | $1.50 |
Interest rate under Revolving Credit Facility | ' | ' | 1.88% | ' | ' |
Fair_Value_Measurements_Summar
Fair Value Measurements - Summary of Fair Values, Principal Balances, and Carrying Values of Company's Debt Instruments (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Fair Value [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | $6,525,655 | $6,478,465 |
Fair Value [Member] | 1.875% Convertible Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | ' | 714,096 |
Fair Value [Member] | 4.000% Convertible Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 1,329,234 | 1,060,622 |
Fair Value [Member] | 8.250% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 263,250 | 272,391 |
Fair Value [Member] | 5.625% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 490,000 | 523,750 |
Fair Value [Member] | 5.750% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 792,000 | 848,000 |
Fair Value [Member] | 4.254% Secured Tower Revenue Securities Series 2010-1 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 692,342 | 713,619 |
Fair Value [Member] | 5.101% Secured Tower Revenue Securities Series 2010-2 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 592,257 | 621,379 |
Fair Value [Member] | 2.933% Secured Tower Revenue Securities Series 2012-1 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 614,008 | 635,614 |
Fair Value [Member] | 2.240% Secured Tower Revenue Securities Series 2013-1C [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 411,940 | ' |
Fair Value [Member] | 3.722% Secured Tower Revenue Securities Series 2013-2C [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 541,805 | ' |
Fair Value [Member] | 3.598% Secured Tower Revenue Securities Series 2013-1D [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 321,651 | ' |
Fair Value [Member] | Revolving Credit Facility [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | ' | 100,000 |
Fair Value [Member] | 2011 Term Loan B [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 180,303 | 493,731 |
Fair Value [Member] | 2012-1 Term Loan A [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 187,031 | 194,513 |
Fair Value [Member] | 2012-2 Term Loan B [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 109,834 | 300,750 |
Principal Balance [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 5,691,697 | 5,440,073 |
Principal Balance [Member] | 1.875% Convertible Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | ' | 468,836 |
Principal Balance [Member] | 4.000% Convertible Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 499,947 | 499,987 |
Principal Balance [Member] | 8.250% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 243,750 | 243,750 |
Principal Balance [Member] | 5.625% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 500,000 | 500,000 |
Principal Balance [Member] | 5.750% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 800,000 | 800,000 |
Principal Balance [Member] | 4.254% Secured Tower Revenue Securities Series 2010-1 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 680,000 | 680,000 |
Principal Balance [Member] | 5.101% Secured Tower Revenue Securities Series 2010-2 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 550,000 | 550,000 |
Principal Balance [Member] | 2.933% Secured Tower Revenue Securities Series 2012-1 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 610,000 | 610,000 |
Principal Balance [Member] | 2.240% Secured Tower Revenue Securities Series 2013-1C [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 425,000 | ' |
Principal Balance [Member] | 3.722% Secured Tower Revenue Securities Series 2013-2C [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 575,000 | ' |
Principal Balance [Member] | 3.598% Secured Tower Revenue Securities Series 2013-1D [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 330,000 | ' |
Principal Balance [Member] | Revolving Credit Facility [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | ' | 100,000 |
Principal Balance [Member] | 2011 Term Loan B [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 180,529 | 492,500 |
Principal Balance [Member] | 2012-1 Term Loan A [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 187,500 | 195,000 |
Principal Balance [Member] | 2012-2 Term Loan B [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 109,971 | 300,000 |
Carrying Value [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 5,648,328 | 5,356,103 |
Carrying Value [Member] | 1.875% Convertible Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | ' | 457,351 |
Carrying Value [Member] | 4.000% Convertible Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 458,535 | 430,751 |
Carrying Value [Member] | 8.250% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 242,340 | 242,205 |
Carrying Value [Member] | 5.625% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 500,000 | 500,000 |
Carrying Value [Member] | 5.750% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 800,000 | 800,000 |
Carrying Value [Member] | 4.254% Secured Tower Revenue Securities Series 2010-1 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 680,000 | 680,000 |
Carrying Value [Member] | 5.101% Secured Tower Revenue Securities Series 2010-2 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 550,000 | 550,000 |
Carrying Value [Member] | 2.933% Secured Tower Revenue Securities Series 2012-1 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 610,000 | 610,000 |
Carrying Value [Member] | 2.240% Secured Tower Revenue Securities Series 2013-1C [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 425,000 | ' |
Carrying Value [Member] | 3.722% Secured Tower Revenue Securities Series 2013-2C [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 575,000 | ' |
Carrying Value [Member] | 3.598% Secured Tower Revenue Securities Series 2013-1D [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 330,000 | ' |
Carrying Value [Member] | Revolving Credit Facility [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | ' | 100,000 |
Carrying Value [Member] | 2011 Term Loan B [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 180,218 | 491,518 |
Carrying Value [Member] | 2012-1 Term Loan A [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | 187,500 | 195,000 |
Carrying Value [Member] | 2012-2 Term Loan B [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Debt instrument | $109,735 | $299,278 |
Fair_Value_Measurements_Summar1
Fair Value Measurements - Summary of Fair Values, Principal Balances, and Carrying Values of Company's Debt Instruments (Parenthetical) (Detail) | Sep. 30, 2013 | Sep. 28, 2012 |
1.875% Convertible Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Interest rates for senior notes | 1.88% | ' |
4.000% Convertible Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Interest rates for senior notes | 4.00% | ' |
8.250% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Interest rates for senior notes | 8.25% | ' |
5.625% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Interest rates for senior notes | 5.63% | 5.63% |
5.750% Senior Notes [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Interest rates for senior notes | 5.75% | ' |
2.933% Secured Tower Revenue Securities Series 2012-1 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Interest rates for senior notes | 2.93% | ' |
2.240% Secured Tower Revenue Securities Series 2013-1C [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Interest rates for senior notes | 2.24% | ' |
3.722% Secured Tower Revenue Securities Series 2013-2C [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Interest rates for senior notes | 3.72% | ' |
3.598% Secured Tower Revenue Securities Series 2013-1D [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Interest rates for senior notes | 3.60% | ' |
4.254% Secured Tower Revenue Securities Series 2010-1 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Interest rates for senior notes | 4.25% | ' |
5.101% Secured Tower Revenue Securities Series 2010-2 [Member] | ' | ' |
Fair Value Inputs Assets Liabilities Quantitative Information [Line Items] | ' | ' |
Interest rates for senior notes | 5.10% | ' |
Restricted_Cash_Schedule_of_Re
Restricted Cash - Schedule of Restricted Cash (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Total restricted cash | $61,045 | $39,697 |
Restricted Cash - Current Asset [Member] | Securitization Escrow Accounts [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Total restricted cash | 48,115 | 26,774 |
Restricted Cash - Current Asset [Member] | Payment and Performance Bonds [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Total restricted cash | 939 | 934 |
Other Assets - Noncurrent [Member] | Surety Bonds and Workers Compensation [Member] | ' | ' |
Restricted Cash and Cash Equivalents Items [Line Items] | ' | ' |
Total restricted cash | $11,991 | $11,989 |
Restricted_Cash_Additional_Inf
Restricted Cash - Additional Information (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | ||
Cash And Cash Equivalents [Abstract] | ' | ' |
Surety, payment and performance bonds | $39.20 | $35.10 |
Collateral payment for performance bonds | 7.8 | 10.5 |
Collateral related to workers compensation policy | $2.30 | $2.30 |
Acquisitions_Additional_Inform
Acquisitions - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | ||||||||||
Sep. 30, 2013 | Jun. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Jul. 26, 2013 | Jul. 26, 2013 | Oct. 28, 2013 | Oct. 28, 2013 | |
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Brazil Acquisition [Member] | Brazil [Member] | Brazil [Member] | Brazil [Member] | Brazil [Member] | Brazil [Member] | Brazil [Member] | |
site | USD ($) | USD ($) | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |||||
Tower | USD ($) | USD ($) | BRL | Foreign Exchange Forward [Member] | Foreign Exchange Forward [Member] | |||||||
USD ($) | BRL | |||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Number of towers acquired | 279 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Additional communication sites | 4 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Acquisition of capital expenditures | $91,646,000 | ' | $31,598,000 | $348,365,000 | $982,989,000 | $175,900,000 | ' | ' | ' | ' | ' | ' |
Ground lease extensions | 2,800,000 | ' | 1,200,000 | 7,600,000 | 4,700,000 | ' | ' | ' | ' | ' | ' | ' |
Purchase price allocation adjustment to reclassify from Property and Equipment to Intangible Assets | ' | 54,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Estimated contingent consideration fair value | 100,000 | ' | 500,000 | 1,900,000 | 1,300,000 | ' | ' | ' | ' | ' | ' | ' |
Potential obligation recorded in accrued expenses | ' | ' | ' | 26,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Foreign currency forward contracts, notional amount | ' | ' | ' | ' | ' | ' | ' | ' | 305,000,000 | 697,100,000 | 314,000,000 | 687,500,000 |
Foreign currency forward contracts, unrealized gain | ' | ' | ' | ' | ' | ' | ' | 6,900,000 | ' | ' | ' | ' |
Foreign currency forward contracts, proceeds received | ' | ' | ' | $182,855,000 | ' | ' | $14,100,000 | ' | ' | ' | ' | ' |
Acquisitions_Schedule_of_Acqui
Acquisitions - Schedule of Acquisition Capital Expenditures (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Business Combinations [Abstract] | ' | ' | ' | ' |
Towers and related intangible assets | $80,326 | $21,736 | $311,190 | $951,331 |
Ground lease land purchases | 11,320 | 9,154 | 35,864 | 25,907 |
Earnouts | ' | 708 | 1,311 | 5,751 |
Total acquisition capital expenditures | $91,646 | $31,598 | $348,365 | $982,989 |
Discontinued_Operations_Additi
Discontinued Operations - Additional Information (Detail) (USD $) | 1 Months Ended | 0 Months Ended |
In Millions, unless otherwise specified | Oct. 23, 2012 | Sep. 06, 2012 |
Discontinued Operations And Disposal Groups [Abstract] | ' | ' |
Sale of DAS networks to ExteNet, discontinued operations, total consideration | ' | $119.30 |
Sale of DAS networks to ExteNet, discontinued operations, cash amount | 5.7 | 94.3 |
Sale of DAS networks to ExteNet, discontinued operations, promissory note | ' | $25 |
Discontinued_Operations_Compon
Discontinued Operations - Components of Discontinued Operations (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Discontinued Operations And Disposal Groups [Abstract] | ' | ' | ' | ' |
Site leasing revenue | ' | $2,121 | ' | $4,775 |
Income from discontinued operations, net of taxes | ' | $969 | ' | $2,349 |
Intangible_Assets_Net_Gross_an
Intangible Assets, Net - Gross and Net Carrying Amounts for Each Major Class of Intangible Assets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | $4,035,315 | $3,846,534 |
Accumulated amortization | -912,976 | -712,401 |
Net book value | 3,122,339 | 3,134,133 |
Current Contract Intangibles [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | 2,841,948 | 2,744,968 |
Accumulated amortization | -605,767 | -462,016 |
Net book value | 2,236,181 | 2,282,952 |
Network Location Intangibles [Member] | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' |
Gross carrying amount | 1,193,367 | 1,101,566 |
Accumulated amortization | -307,209 | -250,385 |
Net book value | $886,158 | $851,181 |
Intangible_Assets_Net_Addition
Intangible Assets, Net - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Amortization expense | $68.10 | $46.40 | $201.70 | $124 |
Minimum [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Intangible assets, useful life | ' | ' | '3 years | ' |
Maximum [Member] | ' | ' | ' | ' |
Finite-Lived Intangible Assets [Line Items] | ' | ' | ' | ' |
Intangible assets, useful life | ' | ' | '15 years | ' |
Property_and_Equipment_Net_Pro
Property and Equipment, Net - Property and Equipment, Net (Including Assets Held Under Capital Leases) (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $4,197,438 | $4,109,522 |
Less: accumulated depreciation | -1,618,799 | -1,438,205 |
Property and equipment, net | 2,578,639 | 2,671,317 |
Towers and Related Components [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 3,809,069 | 3,757,859 |
Construction-In-Process [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 21,022 | 25,454 |
Furniture, Equipment and Vehicles [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | 39,483 | 35,278 |
Land, Buildings and Improvements [Member] | ' | ' |
Property, Plant and Equipment [Line Items] | ' | ' |
Property and equipment, gross | $327,864 | $290,931 |
Property_and_Equipment_Net_Add
Property and Equipment, Net - Additional Information (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
In Millions, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Property Plant And Equipment [Abstract] | ' | ' | ' | ' | ' |
Depreciation expense | $65.10 | $54.50 | $198.10 | $152.80 | ' |
Non-cash capital expenditures | ' | ' | $12 | ' | $17.30 |
Costs_and_Estimated_Earnings_o2
Costs and Estimated Earnings on Uncompleted Contracts - Summary of Costs and Estimated Earnings on Uncompleted Contracts (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Contracts In Progress Costs And Earnings [Line Items] | ' | ' |
Costs and estimated earnings on uncompleted contracts | $30,790 | $22,524 |
Cost Incurred on Uncompleted Contracts [Member] | ' | ' |
Contracts In Progress Costs And Earnings [Line Items] | ' | ' |
Costs and estimated earnings on uncompleted contracts | 88,242 | 55,349 |
Estimated Earnings [Member] | ' | ' |
Contracts In Progress Costs And Earnings [Line Items] | ' | ' |
Costs and estimated earnings on uncompleted contracts | 34,668 | 20,883 |
Billings to Date [Member] | ' | ' |
Contracts In Progress Costs And Earnings [Line Items] | ' | ' |
Costs and estimated earnings on uncompleted contracts | ($92,120) | ($53,708) |
Costs_and_Estimated_Earnings_o3
Costs and Estimated Earnings on Uncompleted Contracts - Costs and Estimated Earnings on Uncompleted Contracts Accompanying Consolidated Balance Sheets (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Contractors [Abstract] | ' | ' |
Costs and estimated earnings in excess of billings on uncompleted contracts | $34,090 | $23,644 |
Other current liabilities (Billings in excess of costs and estimated earnings on uncompleted contracts) | -3,300 | -1,120 |
Costs in excess of billings on uncompleted contracts or programs | $30,790 | $22,524 |
Costs_and_Estimated_Earnings_o4
Costs and Estimated Earnings on Uncompleted Contracts - Additional Information (Detail) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2013 | Dec. 31, 2012 | |
Customer | Customer | |
Contractors [Abstract] | ' | ' |
Costs and estimated earnings in excess of billings on uncompleted contracts, net of billings in excess of costs and estimated earnings, percentage comprised by significant customers | 83.70% | 86.50% |
Number of significant customers | 5 | 5 |
Debt_Carrying_Values_of_Debt_D
Debt - Carrying Values of Debt (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | 16-May-08 | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 24, 2009 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | 4.254% Secured Tower Revenue Securities Series 2010-1 [Member] | 4.254% Secured Tower Revenue Securities Series 2010-1 [Member] | 5.101% Secured Tower Revenue Securities Series 2010-2 [Member] | 5.101% Secured Tower Revenue Securities Series 2010-2 [Member] | 2.933% Secured Tower Revenue Securities Series 2012-1 [Member] | 2.933% Secured Tower Revenue Securities Series 2012-1 [Member] | 2.240% Secured Tower Revenue Securities Series 2013-1C [Member] | 3.722% Secured Tower Revenue Securities Series 2013-2C [Member] | 3.598% Secured Tower Revenue Securities Series 2013-1D [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.75% Senior Notes [Member] | 5.75% Senior Notes [Member] | 1.875% Convertible Senior Notes due 2013 [Member] | 1.875% Convertible Senior Notes due 2013 [Member] | 1.875% Convertible Senior Notes due 2013 [Member] | 4.0% Convertible Senior Notes due 2014 [Member] | 4.0% Convertible Senior Notes due 2014 [Member] | 4.0% Convertible Senior Notes due 2014 [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | 2011 Term Loan B [Member] | 2011 Term Loan B [Member] | 2012-1 Term Loan A [Member] | 2012-1 Term Loan A [Member] | 2012-2 Term Loan B [Member] | 2012-2 Term Loan B [Member] | ||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, Principal balance | $5,691,697 | $5,440,073 | $680,000 | $680,000 | $550,000 | $550,000 | $610,000 | $610,000 | $425,000 | $575,000 | $330,000 | $243,750 | $243,750 | $500,000 | $500,000 | $800,000 | $800,000 | ' | ' | $468,836 | ' | $499,947 | $499,987 | ' | $100,000 | $180,529 | $492,500 | $187,500 | $195,000 | $109,971 | $300,000 |
Debt, Carrying Value | 5,648,328 | 5,356,103 | 680,000 | 680,000 | 550,000 | 550,000 | 610,000 | 610,000 | 425,000 | 575,000 | 330,000 | 242,340 | 242,205 | 500,000 | 500,000 | 800,000 | 800,000 | ' | ' | 457,351 | ' | 458,535 | 430,751 | ' | 100,000 | 180,218 | 491,518 | 187,500 | 195,000 | 109,735 | 299,278 |
Less: current maturities of long-term debt | -11,250 | -475,351 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Total long-term debt, net of current maturities | $5,637,078 | $4,880,752 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, maturity date | ' | ' | 15-Apr-15 | ' | 17-Apr-17 | ' | 15-Dec-17 | ' | 17-Apr-18 | 17-Apr-23 | 17-Apr-18 | 15-Aug-19 | ' | 1-Oct-19 | ' | 15-Jul-20 | ' | 1-May-13 | 1-May-13 | ' | 1-Oct-14 | 1-Oct-14 | ' | 9-May-17 | ' | 30-Jun-18 | ' | 9-May-17 | ' | 28-Sep-19 | ' |
Debt_Carrying_Values_of_Debt_P
Debt - Carrying Values of Debt (Parenthetical) (Detail) | Sep. 30, 2013 | 16-May-08 |
8.25% Senior Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument interest rate stated percentage | 8.25% | ' |
5.625% Senior Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument interest rate stated percentage | 5.63% | ' |
5.75% Senior Notes [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument interest rate stated percentage | 5.75% | ' |
4.254% Secured Tower Revenue Securities Series 2010-1 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument interest rate stated percentage | 4.25% | ' |
5.101% Secured Tower Revenue Securities Series 2010-2 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument interest rate stated percentage | 5.10% | ' |
2.933% Secured Tower Revenue Securities Series 2012-1 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument interest rate stated percentage | 2.93% | ' |
2.240% Secured Tower Revenue Securities Series 2013-1C [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument interest rate stated percentage | 2.24% | ' |
3.722% Secured Tower Revenue Securities Series 2013-2C [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument interest rate stated percentage | 3.72% | ' |
3.598% Secured Tower Revenue Securities Series 2013-1D [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument interest rate stated percentage | 3.60% | ' |
1.875% Convertible Senior Notes due 2013 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument interest rate stated percentage | 1.88% | 1.88% |
4.0% Convertible Senior Notes due 2014 [Member] | ' | ' |
Debt Instrument [Line Items] | ' | ' |
Debt instrument interest rate stated percentage | 4.00% | ' |
Debt_Schedule_of_Cash_and_NonC
Debt - Schedule of Cash and Non-Cash Interest Expense (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | $62,987 | $50,578 | $185,569 | $136,728 |
Non-cash Interest | 9,642 | 17,874 | 39,151 | 52,281 |
1.875% Convertible Senior Notes due 2013 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | ' | 2,508 | 2,670 | 7,523 |
Non-cash Interest | ' | 9,339 | 10,434 | 27,375 |
4.0% Convertible Senior Notes due 2014 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | 4,999 | 5,000 | 14,999 | 15,000 |
Non-cash Interest | 9,570 | 8,412 | 28,446 | 24,448 |
8.0% Senior Notes due 2016 [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | ' | 3,142 | ' | 15,867 |
Non-cash Interest | ' | 35 | ' | 174 |
8.25% Senior Notes [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | 5,027 | 5,027 | 15,082 | 18,150 |
Non-cash Interest | 46 | 42 | 135 | 149 |
5.625% Senior Notes [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | 7,031 | 234 | 21,094 | 234 |
5.75% Senior Notes [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | 11,500 | 10,094 | 34,500 | 10,094 |
2010 Secured Tower Revenue Securities [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | 14,349 | 14,344 | 43,037 | 43,032 |
2012 Secured Tower Revenue Securities [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | 4,521 | 2,612 | 13,564 | 2,612 |
2013 Secured Tower Revenue Securities [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | 10,804 | ' | 19,588 | ' |
Revolving Credit Facility [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | 856 | 849 | 3,338 | 3,558 |
2011 Term Loan [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | 1,730 | 4,743 | 8,802 | 14,163 |
Non-cash Interest | 16 | 45 | 85 | 134 |
2012-1 Term Loan A [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | 1,123 | 1,403 | 3,516 | 2,262 |
2012-2 Term Loan B [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | 1,054 | 94 | 5,362 | 94 |
Non-cash Interest | 10 | 1 | 51 | 1 |
Mobilitie Bridge Loan [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | ' | 499 | ' | 4,239 |
Other [Member] | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' |
Cash Interest | ($7) | $29 | $17 | ($100) |
Debt_Schedule_of_Cash_and_NonC1
Debt - Schedule of Cash and Non-Cash Interest Expense (Parenthetical) (Detail) | Sep. 30, 2013 |
1.875% Convertible Senior Notes due 2013 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates for senior notes | 1.88% |
4.0% Convertible Senior Notes due 2014 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates for senior notes | 4.00% |
8.0% Senior Notes due 2016 [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates for senior notes | 8.00% |
8.25% Senior Notes [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates for senior notes | 8.25% |
5.625% Senior Notes [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates for senior notes | 5.63% |
5.75% Senior Notes [Member] | ' |
Debt Instrument [Line Items] | ' |
Interest rates for senior notes | 5.75% |
Debt_Additional_Information_De
Debt - Additional Information (Detail) (USD $) | Aug. 27, 2013 | Aug. 27, 2013 | Aug. 27, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 |
In Millions, unless otherwise specified | Revolving Credit Facility [Member] | Senior Credit Agreement [Member] | Minimum [Member] | Maximum [Member] | Revolving Credit Facility [Member] | |
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' |
Line of credit facility, maximum borrowing capacity | ' | ' | ' | ' | ' | $770 |
Eurodollar Rate margin | ' | ' | ' | 1.88% | 2.38% | ' |
Base rate margin | ' | ' | ' | 0.88% | 1.38% | ' |
Line of credit facility, commitment fee | ' | ' | ' | 0.38% | 0.50% | ' |
Line of credit facility, outstanding | ' | ' | ' | ' | ' | 0 |
Line of credit facility, remaining borrowing capacity | ' | ' | ' | ' | ' | 770 |
Debt to EBITDA ratio | ' | ' | 6 | ' | ' | ' |
Debt to EBITDA ratio increased | ' | ' | 6.5 | ' | ' | ' |
Debt to EBITDA ratio | $6.50 | ' | ' | ' | ' | ' |
Allowable annualized percentage borrower EBITDA for foreign subsidiaries | ' | 10.00% | ' | ' | ' | ' |
Allowable annualized percentage borrower EBITDA for foreign subsidiaries, revised | ' | 35.00% | ' | ' | ' | ' |
Debt_Additional_Information_1_
Debt - Additional Information 1 (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 9 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | ||||||||||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 24, 2013 | Sep. 30, 2013 | |
Minimum [Member] | Maximum [Member] | Term Loan A [Member] | Term Loan A [Member] | Term Loan A [Member] | Term Loan A [Member] | Term Loan A [Member] | Term Loan A [Member] | Term Loan under the Senior Credit Agreement [Member] | Term Loan under the Senior Credit Agreement [Member] | Term Loan under the Senior Credit Agreement [Member] | Term Loan B [Member] | Term Loan B [Member] | ||||||
2012-1 Term Loan A [Member] | 2012-1 Term Loan A [Member] | 2012-1 Term Loan A [Member] | 2012-1 Term Loan A [Member] | 2012-1 Term Loan A [Member] | 2012-1 Term Loan A [Member] | 2011 Term Loan B [Member] | 2012-1 Term Loan [Member] | 2012-1 Term Loan [Member] | 2011 Term Loan B [Member] | 2011 Term Loan B [Member] | ||||||||
Minimum [Member] | Maximum [Member] | First Eight Quarters [Member] | Next Four Quarters [Member] | Each Quarter Thereafter [Member] | ||||||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | $5,691,697,000 | ' | $5,691,697,000 | ' | $5,440,073,000 | ' | ' | $200,000,000 | ' | ' | ' | ' | ' | $500,000,000 | ' | ' | ' | ' |
Eurodollar Rate margin | ' | ' | ' | ' | ' | 1.88% | 2.38% | ' | 2.00% | 2.50% | ' | ' | ' | 2.75% | ' | ' | ' | ' |
Base rate margin | ' | ' | ' | ' | ' | 0.88% | 1.38% | ' | 1.00% | 1.50% | ' | ' | ' | 1.75% | ' | ' | ' | ' |
Base rate floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.00% | ' | ' | ' | ' |
Eurodollar rate floor | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.00% | ' | ' | ' | ' |
Accrued interest on Term Loan | ' | ' | ' | ' | ' | ' | ' | 2.18% | ' | ' | ' | ' | ' | 3.75% | ' | ' | ' | ' |
Financing fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,900,000 | ' | 2,700,000 | ' | ' |
Percentage of par value price for issuance of term loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.75% | ' | ' | ' | ' |
Repayments of long-term debt, quarterly | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | 3,750,000 | 5,000,000 | ' | ' | ' | ' | 312,000,000 |
Prepayment of term loan | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 310,700,000 | ' |
Deferred financing fees expense | 3,981,000 | 3,199,000 | 11,508,000 | 9,293,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,300,000 | ' |
Wrote off of discount related to debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000 | ' |
Term Loan, Principal balance | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 187,500,000 | 187,500,000 | ' | 180,500,000 |
Remaining deferred financing fees, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000 |
Repayment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $2,500,000 | $7,500,000 | ' | ' |
Debt_Additional_Information_2_
Debt - Additional Information 2 (Detail) (USD $) | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | |||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Apr. 24, 2013 | Sep. 30, 2013 | |
Term Loan B [Member] | Term Loan B [Member] | ||||||
2012-2 Term Loan B [Member] | 2012-2 Term Loan B [Member] | ||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Debt instrument, face amount | $5,691,697,000 | ' | $5,691,697,000 | ' | $5,440,073,000 | ' | $300,000,000 |
Eurodollar Rate margin | ' | ' | ' | ' | ' | ' | 2.75% |
Base rate margin | ' | ' | ' | ' | ' | ' | 1.75% |
Base rate floor | ' | ' | ' | ' | ' | ' | 2.00% |
Eurodollar rate floor | ' | ' | ' | ' | ' | ' | 1.00% |
Accrued interest on Term Loan | ' | ' | ' | ' | ' | ' | 3.75% |
Percentage of par value price for issuance of term loan | ' | ' | ' | ' | ' | ' | 99.75% |
Financing fees | ' | ' | ' | ' | ' | ' | 3,500,000 |
Term Loan, outstanding balance repaid | ' | ' | ' | ' | ' | ' | 190,000,000 |
Prepayment of term loan | ' | ' | ' | ' | ' | 189,300,000 | ' |
Deferred financing fees expense | 3,981,000 | 3,199,000 | 11,508,000 | 9,293,000 | ' | 2,000,000 | ' |
Wrote off of discount related to debt | ' | ' | ' | ' | ' | 400,000 | ' |
Term Loan, Principal balance | ' | ' | ' | ' | ' | ' | 110,000,000 |
Remaining deferred financing fees, net | ' | ' | ' | ' | ' | ' | $1,100,000 |
Debt_Additional_Information_3_
Debt - Additional Information 3 (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 18, 2013 | Apr. 18, 2013 | Apr. 16, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 16, 2010 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Apr. 16, 2010 | Apr. 16, 2010 | Sep. 30, 2013 | Apr. 18, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Aug. 09, 2012 | Apr. 18, 2013 | Apr. 18, 2013 | Apr. 18, 2013 | Sep. 30, 2013 | Apr. 18, 2013 |
2011 Term Loan B [Member] | 2012-2 Term Loan B [Member] | 4.254% Secured Tower Revenue Securities Series 2010-1 [Member] | 4.254% Secured Tower Revenue Securities Series 2010-1 [Member] | 4.254% Secured Tower Revenue Securities Series 2010-1 [Member] | 5.101% Secured Tower Revenue Securities Series 2010-2 [Member] | 5.101% Secured Tower Revenue Securities Series 2010-2 [Member] | 5.101% Secured Tower Revenue Securities Series 2010-2 [Member] | Tower Securities [Member] | Tower Securities [Member] | Commercial Mortgage Series 2006-1 [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | 2012-1 Tower Securities [Member] | 2012-1 Tower Securities [Member] | 2013-1C Tower Securities [Member] | 2013-2C Tower Securities [Member] | 2013-1DTower Securities [Member] | 2013 Tower Securities [Member] | 2013 Tower Securities [Member] | |||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Proceeds from issuance of 2010 Tower Securities, net of fees paid | ' | ' | ' | ' | $680,000,000 | ' | ' | $550,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Securities, annual interest rate | ' | ' | ' | ' | 4.25% | ' | ' | 5.10% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Weighted average annual fixed coupon interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.70% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tower revenue securities anticipated repayment date | ' | ' | ' | ' | '2015-04-15 | ' | ' | '2017-04-17 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Tower revenue securities maturity date | ' | ' | ' | ' | '2040-04-16 | ' | ' | '2042-04-15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Line of credit facility, deferred financing fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 18,000,000 | ' | ' | ' | ' | ' | 14,900,000 | ' | ' | ' | ' | 25,100,000 | ' |
Repayment of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Face amount of debt | 5,691,697,000 | 5,440,073,000 | ' | ' | ' | 680,000,000 | 680,000,000 | ' | 550,000,000 | 550,000,000 | ' | ' | ' | ' | ' | 100,000,000 | ' | 610,000,000 | 425,000,000 | 575,000,000 | 330,000,000 | ' | 1,330,000,000 |
Debt instrument interest rate stated percentage | ' | ' | ' | ' | ' | 4.25% | ' | ' | 5.10% | ' | ' | ' | ' | ' | ' | ' | ' | 2.93% | 2.24% | 3.72% | 3.60% | ' | 3.22% |
Repayment date of debt instrument | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'April 2018 | 'April 2023 | 'April 2018 | ' | ' |
Weighted average life of debt instrument through the anticipated repayment date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '7 years 2 months 12 days |
Debt instrument, maturity date | ' | ' | ' | ' | ' | 15-Apr-15 | ' | ' | 17-Apr-17 | ' | ' | ' | ' | 9-May-17 | ' | ' | ' | ' | 30-Apr-43 | 30-Apr-48 | 30-Apr-43 | ' | ' |
Outstanding amount | ' | ' | $310,700,000 | $189,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $100,000,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Debt_Additional_Information_4_
Debt - Additional Information 4 (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Feb. 22, 2013 | 16-May-08 | Sep. 30, 2013 | Sep. 30, 2013 | Feb. 01, 2013 | |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Proceeds from settlement of convertible bond hedges | ' | ' | ' | $182,855,000 | ' |
Company paid in cash to settle warrants | ' | ' | ' | 42,424,000 | ' |
Shares - Warrant [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Common stock warrants issued | ' | ' | ' | 200,016 | ' |
Lehman Brothers [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Gain on a sale of a bankruptcy claim | ' | ' | 27,300,000 | ' | ' |
Subsequent Event [Member] | Shares - Warrant [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Common stock warrants issued | ' | ' | ' | 192,516 | ' |
1.875% Convertible Senior Notes due 2013 [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Convertible senior notes issued | ' | 550,000,000 | ' | ' | ' |
Equity component related to repurchases, convertible, effective interest rate | ' | 1.88% | 1.88% | 1.88% | ' |
Debt instrument, issuance date | ' | 16-May-08 | ' | ' | ' |
Interest payable dates | ' | ' | ' | 'May 1 and November 1 | ' |
Debt instrument, maturity date | ' | 1-May-13 | ' | 1-May-13 | ' |
Conversion rate, in shares | ' | 24.1196 | ' | ' | ' |
Common stock principal amount | ' | 1,000 | ' | ' | ' |
Per share conversion price | ' | $41.46 | ' | ' | ' |
Conversion premium | ' | 20.00% | ' | ' | ' |
Last reported selling price | ' | $34.55 | ' | ' | ' |
Issuance of stock for conversion of debt | 18,100,000 | ' | ' | ' | ' |
Issuance of common stock | 437,134 | ' | ' | ' | ' |
Exercised share warrants net | 71,054 | ' | ' | ' | ' |
Settlement of future conversion obligations | ' | ' | ' | ' | 100.00% |
Additional conversion notices aggregate value | ' | ' | ' | 450,600,000 | ' |
Converted Notes held by subsidiary | ' | ' | ' | 81,200,000 | ' |
Convertible indenture notes | ' | ' | ' | 1,764.02 | ' |
Convertible price per notes | ' | ' | ' | $1,000 | ' |
Convertible notes aggregate value | ' | ' | ' | 794,800,000 | ' |
Aggregate principal amount | ' | ' | 142,000 | 142,000 | ' |
Proceeds from settlement of convertible bond hedges | ' | ' | ' | 182,900,000 | ' |
Company paid in cash to settle warrants | ' | ' | 18,800,000 | 42,400,000 | ' |
Initial strike price of warrants | ' | ' | ' | $67.37 | ' |
1.875% Convertible Senior Notes due 2013 [Member] | Subsequent Event [Member] | ' | ' | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' | ' | ' |
Company paid in cash to settle warrants | ' | ' | ' | $55,500,000 | ' |
Debt_Additional_Information_5_
Debt - Additional Information 5 (Detail) (USD $) | 1 Months Ended | 9 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 9 Months Ended | 3 Months Ended | ||||
Apr. 24, 2009 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Apr. 24, 2009 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | |
Class A Common Stock [Member] | Class A Common Stock [Member] | 4.0% Convertible Senior Notes due 2014 [Member] | 4.0% Convertible Senior Notes due 2014 [Member] | Convertible Senior Notes [Member] | Convertible Senior Notes [Member] | Convertible Senior Notes [Member] | Convertible Senior Notes [Member] | 4.0% Notes [Member] | |||
Maximum [Member] | Minimum [Member] | ||||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible senior notes issued | ' | ' | ' | ' | $500,000,000 | ' | ' | ' | ' | ' | ' |
Debt instrument, issuance date | ' | ' | ' | ' | 24-Apr-09 | ' | ' | ' | ' | ' | ' |
Interest payable dates | ' | ' | ' | ' | 'April 1 and October 1 | ' | ' | ' | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | 1-Oct-14 | 1-Oct-14 | ' | ' | ' | ' | ' |
Issuance fee of convertible senior notes | 11,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred financing fees | 7,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Financing fees recorded as a reduction to shareholders' equity | 4,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Initial strike price of warrants | ' | ' | ' | ' | ' | $30.38 | ' | ' | ' | ' | ' |
Equity component related to repurchases, convertible, effective interest rate | ' | ' | ' | ' | ' | 4.00% | ' | ' | ' | ' | ' |
Conversion rate, in shares | ' | ' | ' | ' | ' | 32.9164 | ' | ' | ' | ' | ' |
Conversion premium | ' | ' | ' | ' | ' | 22.50% | ' | ' | ' | ' | ' |
Per share conversion price | ' | ' | ' | ' | ' | $30.38 | ' | ' | ' | ' | ' |
Common stock principal amount | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' |
Last reported selling price | ' | ' | ' | ' | ' | $24.80 | ' | ' | ' | ' | ' |
Upper strike price of warrants | ' | ' | ' | ' | ' | $44.64 | ' | ' | ' | ' | ' |
Coupon rate of notes, maximum | ' | ' | ' | ' | ' | ' | ' | ' | 12.90% | 4.00% | ' |
Carrying amount of the equity component | ' | ' | ' | ' | ' | ' | 169,000,000 | 169,000,000 | ' | ' | ' |
Convertible notes conversion criteria associated with common stock trading price | ' | 'The last reported sale price of the Company's Class A common stock for at least 20 trading days in the 30 consecutive trading day period ending on the last trading day of the preceding calendar quarter is more than 130% of the applicable conversion price per share of Class A common stock on the last day of such preceding calendar quarter | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Convertible notes conversion criteria associated with common stock and convertible notes trading price | ' | 'Trading price per $1,000 principal amount of the 4.0% Notes for each day in the measurement period was less than 95% of the product of the last reported sale price of Class A common stock and the applicable conversion rate, | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Common stock closing price per share | ' | ' | $39.49 | $39.49 | ' | ' | ' | ' | ' | ' | ' |
Period of payment of additional interest | ' | ' | '20 days | '20 days | ' | ' | ' | ' | ' | ' | ' |
Consecutive trading day | ' | ' | '30 days | '30 days | ' | ' | ' | ' | ' | ' | ' |
Principal amount converted | ' | ' | ' | ' | ' | 40,000 | ' | ' | ' | ' | ' |
Issuance of common stock | ' | ' | ' | ' | ' | 1,307 | ' | ' | ' | ' | ' |
Common stock received | ' | ' | ' | ' | ' | 593 | ' | ' | ' | ' | ' |
Principal amount of conversion notices | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $3,000 |
Debt_Summary_of_LongTerm_Debt_
Debt - Summary of Long-Term Debt (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Short-term Debt [Line Items] | ' | ' |
Debt instrument, Principal balance | $5,691,697 | $5,440,073 |
Carrying value | 5,648,328 | 5,356,103 |
4.0% Convertible Senior Notes due 2014 [Member] | ' | ' |
Short-term Debt [Line Items] | ' | ' |
Debt instrument, Principal balance | 499,947 | 499,987 |
Debt discount | -41,412 | -69,236 |
Carrying value | $458,535 | $430,751 |
Debt_Additional_Information_6_
Debt - Additional Information 6 (Detail) (USD $) | 1 Months Ended | 3 Months Ended | 9 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 9 Months Ended | 1 Months Ended | |||||||||||
Aug. 29, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 | Apr. 24, 2009 | Aug. 29, 2012 | Apr. 13, 2012 | Sep. 30, 2013 | Apr. 13, 2012 | Sep. 30, 2013 | Apr. 13, 2012 | Sep. 30, 2013 | Jul. 24, 2009 | Jul. 24, 2009 | Sep. 30, 2013 | Sep. 30, 2013 | Aug. 29, 2012 | |
8.0% Senior Notes due 2016 [Member] | 8.0% Senior Notes due 2016 [Member] | 8.0% Senior Notes due 2016 [Member] | 8.25% Senior Notes [Member] | 8.25% Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes Due Two Thousand Sixteen [Member] | Senior Notes Due Two Thousand Nineteen [Member] | 8.0% Senior Notes [Member] | 8.25% Senior Notes [Member] | 8.0% Senior Notes [Member] | ||||||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Unsecured senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $750,000,000 | $375,000,000 | $375,000,000 | ' | ' | ' |
Debt instrument, maturity date | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15-Aug-16 | 15-Aug-19 | ' | ' | ' |
Equity component related to repurchases, convertible, effective interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.00% | ' | 8.25% | ' | ' | ' | ' | 8.00% | 8.25% | 8.00% |
Percentage of face value price for issuance of senior notes | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 99.33% | 99.15% | ' | ' | ' |
Interest payable dates | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 'February 15 and August 15 | 'February 15 and August 15 | ' | ' | ' |
Deferred financing fees | ' | ' | ' | ' | ' | ' | 7,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,400,000 | ' |
Net proceeds of offering after deducting discounts | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 727,800,000 | ' | ' | ' | ' | ' |
Debt instrument, aggregate principal amount redeemed | ' | ' | ' | ' | ' | ' | ' | ' | 131,300,000 | ' | 131,300,000 | ' | ' | ' | ' | ' | ' | ' | ' |
Premium on redemption | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,300,000 | ' | ' | ' | ' | ' | ' |
Debt discount | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000 | ' | ' | ' | ' | ' | ' |
Deferred financing fees | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,300,000 | ' | ' | ' | ' | ' | ' |
Debt instrument, aggregate principal amount redeemed | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 243,800,000 |
Premium on redemption | 14,600,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Debt discount expensed | ' | ' | ' | ' | ' | ' | ' | 1,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Deferred financing fees | ' | 3,981,000 | 3,199,000 | 11,508,000 | 9,293,000 | ' | ' | 3,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Carrying value of senior note | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 242,300,000 | ' |
Debt instrument, Principal balance | ' | $5,691,697,000 | ' | $5,691,697,000 | ' | $5,440,073,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $243,800,000 | ' |
Debt_Additional_Information_7_
Debt - Additional Information 7 (Detail) (USD $) | Sep. 30, 2013 | Dec. 31, 2012 | Apr. 24, 2009 | Sep. 28, 2012 | Sep. 30, 2013 | Jul. 13, 2012 |
5.625% Senior Notes [Member] | 5.625% Senior Notes [Member] | 5.75% Notes [Member] | ||||
Line of Credit Facility [Line Items] | ' | ' | ' | ' | ' | ' |
Unsecured senior notes | $5,691,697,000 | $5,440,073,000 | ' | $500,000,000 | ' | $800,000,000 |
Interest rate for senior notes | ' | ' | ' | 5.63% | 5.63% | 5.75% |
Interest payable dates | ' | ' | ' | 'October 1 and April 1 | ' | 'July 15 and January 15 |
Debt instrument, maturity date | ' | ' | ' | 1-Oct-19 | ' | 15-Jul-20 |
Deferred financing fees | ' | ' | $7,700,000 | $8,500,000 | ' | $14,000,000 |
Redeemable_Noncontrolling_Inte1
Redeemable Noncontrolling Interests - Additional Information (Detail) (Central American joint venture [Member], USD $) | 1 Months Ended |
In Millions, unless otherwise specified | Mar. 31, 2013 |
Noncontrolling Interest [Line Items] | ' |
Acquired additional non-controlling interest | 10.00% |
Acquired additional interest value | $6 |
Ownership interest after acquisition | 100.00% |
Additional Paid-In Capital [Member] | ' |
Noncontrolling Interest [Line Items] | ' |
Adjusted non-controlling interest | $5.70 |
Shareholders_Equity_Additional
Shareholders' Equity - Additional Information (Detail) (USD $) | 9 Months Ended | |||
In Millions, unless otherwise specified | Sep. 30, 2013 | Apr. 27, 2011 | Sep. 30, 2013 | Sep. 30, 2013 |
Class A Common Stock [Member] | Common Stock Equivalents 4.0% Notes [Member] | Common stock equivalents 1.875% Notes [Member] | ||
Class of Stock [Line Items] | ' | ' | ' | ' |
Interest rate for senior notes | ' | ' | 4.00% | 1.88% |
Stock repurchase authorized | $150 | $300 | ' | ' |
New stock repurchase authorized program | $300 | ' | ' | ' |
StockBased_Compensation_Schedu
Stock-Based Compensation - Schedule of Assumptions Used to Estimate Fair Value of Stock Options (Detail) | 9 Months Ended | |
Sep. 30, 2013 | Sep. 30, 2012 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Risk free interest rate, Minimum | 0.51% | 0.57% |
Risk free interest rate, Maximum | 1.38% | 0.83% |
Dividend yield | 0.00% | 0.00% |
Expected volatility | ' | 53.00% |
Minimum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected volatility | 25.00% | ' |
Expected lives | '3 years 10 months 24 days | '3 years 9 months 18 days |
Maximum [Member] | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' |
Expected volatility | 29.00% | ' |
Expected lives | '4 years 9 months 18 days | '4 years 7 months 6 days |
StockBased_Compensation_Compan
Stock-Based Compensation - Company's Activities with Respect to its Stock Options (Detail) (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Number of Shares Outstanding, Beginning Balance | 2,831 |
Number of Shares, Granted | 984 |
Number of Shares, Exercised | -620 |
Number of Shares, Canceled | -57 |
Number of Shares Outstanding, Ending Balance | 3,138 |
Number of Shares Exercisable, Ending Balance | 1,339 |
Number of Shares Unvested, Ending Balance | 1,799 |
Weighted-Average Exercise Price Per Share Outstanding, Beginning Balance | $34.06 |
Weighted-Average Exercise Price Per Share, Granted | $73.17 |
Weighted-Average Exercise Price Per Share, Exercised | $27.15 |
Weighted-Average Exercise Price Per Share, Canceled | $51.73 |
Weighted-Average Exercise Price Per Share Outstanding, Ending Balance | $47.37 |
Weighted-Average Exercise Price Per Share Exercisable, Ending Balance | $30.96 |
Weighted-Average Exercise Price Per Share Unvested, Ending Balance | $59.58 |
Weighted-Average Remaining Contractual Life (in Years) Outstanding at September 30, 2013 | '4 years 5 months 1 day |
Weighted-Average Remaining Contractual Life (in years) Exercisable at September 30, 2013 | '2 years 8 months 1 day |
Weighted-Average Remaining Contractual Life (in years) Unvested at September 30, 2013 | '5 years 8 months 19 days |
StockBased_Compensation_Additi
Stock-Based Compensation - Additional Information (Detail) (USD $) | 9 Months Ended | |
In Millions, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' | ' |
Weighted-average fair value of options granted | $17.20 | $20.31 |
Total intrinsic value for options exercised | $30.70 | $23 |
StockBased_Compensation_Compan1
Stock-Based Compensation - Company's Restricted Stock Unit Activity (Detail) (USD $) | 9 Months Ended |
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ' |
Number of Units Outstanding, Beginning Balance | 294 |
Number of Units, Granted | 122 |
Number of Units, Restriction Lapse | -99 |
Number of Units, Forfeited/Canceled | -11 |
Number of Units Outstanding, Ending Balance | 306 |
Weighted-Average Grant Date Fair Value per share Outstanding, Beginning Balance | $43.27 |
Weighted-Average Grant Date Fair Value per share, Granted | $73.44 |
Weighted-Average Grant Date Fair Value per share, Restriction Lapse | $41.86 |
Weighted-Average Grant Date Fair Value per share, Forfeited/Canceled | $48.50 |
Weighted-Average Grant Date Fair Value per share Outstanding, Ending Balance | $55.54 |
Segment_Data_Additional_Inform
Segment Data - Additional Information (Detail) (USD $) | 9 Months Ended | 12 Months Ended | |
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' |
Number of business segments | 2 | ' | ' |
Total assets held in Brazil | $6,584,428 | 6,595,617 | $6,595,617 |
Outside of United States [Member] | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' |
Percentage of revenue generated from the foreign countries | 7.00% | 5.90% | ' |
Percentage of total assets in the foreign countries | 11.30% | ' | 12.20% |
Total assets held in Brazil | ' | ' | $178,100 |
Segment_Data_Segment_Reporting
Segment Data - Segment Reporting Information Disclosure (Detail) (USD $) | 3 Months Ended | 9 Months Ended | |||
In Thousands, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | Dec. 31, 2012 |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | $332,094 | $238,606 | $969,470 | $660,243 | ' |
Cost of revenues | 103,295 | 71,683 | 307,715 | 190,081 | ' |
Depreciation, amortization and accretion | 133,281 | 101,012 | 400,006 | 277,110 | ' |
Operating income (loss) | 63,902 | 41,071 | 170,201 | 116,098 | ' |
Capital expenditures | 125,371 | 58,216 | 452,977 | 1,059,685 | ' |
Assets | 6,584,428 | 6,595,617 | 6,584,428 | 6,595,617 | 6,595,617 |
Operating Segments [Member] | Site Leasing Revenue [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 287,483 | 208,828 | 840,488 | 585,332 | ' |
Cost of revenues | 68,042 | 46,621 | 203,927 | 126,787 | ' |
Depreciation, amortization and accretion | 132,074 | 100,107 | 396,824 | 274,541 | ' |
Operating income (loss) | 59,547 | 42,420 | 161,101 | 120,224 | ' |
Capital expenditures | 122,268 | 57,508 | 446,514 | 1,056,215 | ' |
Assets | 6,219,735 | 6,422,577 | 6,219,735 | 6,422,577 | ' |
Operating Segments [Member] | Site Development [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Revenues | 44,611 | 29,778 | 128,982 | 74,911 | ' |
Cost of revenues | 35,253 | 25,062 | 103,788 | 63,294 | ' |
Depreciation, amortization and accretion | 731 | 561 | 1,762 | 1,596 | ' |
Operating income (loss) | 6,685 | 1,735 | 17,615 | 2,625 | ' |
Capital expenditures | 2,538 | 708 | 5,185 | 2,975 | ' |
Assets | 78,738 | 58,804 | 78,738 | 58,804 | ' |
Not Identified by Segment [Member] | ' | ' | ' | ' | ' |
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' |
Depreciation, amortization and accretion | 476 | 344 | 1,420 | 973 | ' |
Operating income (loss) | -2,540 | -3,084 | -8,515 | -6,751 | ' |
Capital expenditures | 565 | ' | 1,278 | 495 | ' |
Assets | $285,955 | $114,236 | $285,955 | $114,236 | ' |
Concentration_of_Credit_Risk_A
Concentration of Credit Risk - Additional Information (Detail) | Sep. 30, 2013 | Dec. 31, 2012 |
Customer | Customer | |
Risks And Uncertainties [Abstract] | ' | ' |
Concentration risk percentage of revenue minimum | 10.00% | ' |
Concentration risk percentage of accounts receivable | 53.90% | 55.50% |
Accounts receivable number of customers | 5 | 5 |
Concentration_of_Credit_Risk_S
Concentration of Credit Risk - Summary of Significant Customers and Percentage of Total Revenue for Specified Time Periods Derived from Such Customers (Detail) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 | |
Site Leasing Revenue [Member] | Sprint [Member] | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Concentration risk percentage of revenue | 28.20% | 24.20% | 28.50% | 24.90% |
Site Leasing Revenue [Member] | AT&T [Member] | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Concentration risk percentage of revenue | 22.70% | 23.00% | 22.30% | 23.80% |
Site Leasing Revenue [Member] | T-Mobile [Member] | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Concentration risk percentage of revenue | 16.50% | 18.00% | 16.70% | 16.60% |
Site Leasing Revenue [Member] | Verizon [Member] | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Concentration risk percentage of revenue | 12.30% | 13.30% | 12.20% | 13.70% |
Site Development Revenue [Member] | Ericsson, Inc [Member] | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Concentration risk percentage of revenue | 32.20% | 23.60% | 38.10% | 19.70% |
Site Development Revenue [Member] | T-Mobile [Member] | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Concentration risk percentage of revenue | 10.50% | 2.50% | 7.90% | 8.30% |
Site Development Revenue [Member] | Alcatel-Lucent [Member] | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Concentration risk percentage of revenue | 8.10% | 8.30% | 10.10% | 6.10% |
Site Development Revenue [Member] | Nsoro [Member] | ' | ' | ' | ' |
Concentration Risk [Line Items] | ' | ' | ' | ' |
Concentration risk percentage of revenue | 2.10% | 17.30% | 3.10% | 19.90% |
Earnings_Per_Share_WeightedAve
Earnings Per Share - Weighted-Average Shares of Common Stock Outstanding Used in Calculation of Basic and Diluted Earnings Per Share (Detail) (USD $) | 3 Months Ended | 9 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Sep. 30, 2013 | Sep. 30, 2012 | Sep. 30, 2013 | Sep. 30, 2012 |
Earnings Per Share [Abstract] | ' | ' | ' | ' |
Net income (loss) from continuing operations | $21,531 | ($53,668) | ($36,747) | ($131,153) |
Net income from discontinued operations | ' | $969 | ' | $2,349 |
Basic weighted-average shares outstanding | 127,885 | 121,689 | 127,555 | 118,159 |
Dilutive impact of stock options and restricted shares | 1,195 | ' | ' | ' |
Dilutive impact of common stock warrants | 7,832 | ' | ' | ' |
Diluted weighted-average shares outstanding | 136,912 | 121,689 | 127,555 | 118,159 |
Earnings (loss) per share attributable to continuing operations: | ' | ' | ' | ' |
Basic | $0.17 | ($0.44) | ($0.29) | ($1.11) |
Diluted | $0.16 | ($0.44) | ($0.29) | ($1.11) |
Earnings per share attributable to discontinued operations: | ' | ' | ' | ' |
Basic and diluted | ' | $0.01 | ' | $0.02 |