American Tower (AMT) 10-K 1 Mar 10 2009 FY Annual report Financial data

Statement Of Financial Position

Statement Of Financial Position Classified (USD $)
In Thousands	Dec. 31, 2009	Dec. 31, 2008
CURRENT ASSETS:
Cash and cash equivalents	$247,293	$143,077
Restricted cash	47,836	51,866
Short-term investments and available-for-sale securities	9,776	2,028
Accounts receivable, net of allowances	67,949	51,313
Prepaid and other current assets	89,051	61,415
Deferred income taxes	189,451	163,981
Total current assets	651,356	473,680
PROPERTY AND EQUIPMENT, net	3,175,511	3,022,636
GOODWILL	2,237,850	2,186,233
OTHER INTANGIBLE ASSETS, net	1,598,633	1,566,155
DEFERRED INCOME TAXES	198,185	381,428
NOTES RECEIVABLE AND OTHER LONG-TERM ASSETS	651,133	581,533
TOTAL	8,512,668	8,211,665
CURRENT LIABILITIES:
Accounts payable and accrued expenses	185,138	151,985
Accrued interest	23,538	28,635
Current portion of long-term obligations	70,521	1,837
Unearned revenue	112,047	120,188
Total current liabilities	391,244	302,645
LONG-TERM OBLIGATIONS	4,141,060	4,331,309
OTHER LONG-TERM LIABILITIES	662,239	583,232
Total liabilities	5,194,543	5,217,186
STOCKHOLDERS' EQUITY:
Preferred Stock: $.01 par value; 20,000,000 shares authorized; no shares issued or outstanding	0	0
Class A Common Stock: $.01 par value; 1,000,000,000 shares authorized, 479,703,633 and 468,513,843 shares issued, and 401,596,984 and 396,976,896 shares outstanding, respectively	4,797	4,685
Additional paid-in capital	8,393,643	8,109,224
Accumulated deficit	(2,109,532)	(2,356,127)
Accumulated other comprehensive loss	(12,649)	(20,031)
Treasury stock (78,106,649 and 71,536,947 shares at cost, respectively)	(2,961,177)	(2,746,429)
Total American Tower Corporation stockholders' equity	3,315,082	2,991,322
Noncontrolling interest	3,043	3,157
Total stockholders' equity	3,318,125	2,994,479
TOTAL	$8,512,668	$8,211,665

1_Statement Of Financial Positi

Statement Of Financial Position Classified (Parenthetical) (USD $)
	Dec. 31, 2009	Dec. 31, 2008
Preferred Stock, par value	0.01	0.01
Preferred Stock, shares authorized	20,000,000	20,000,000
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Class A Common Stock, par value	0.01	0.01
Class A Common Stock, shares authorized	1,000,000,000	1,000,000,000
Class A Common Stock, shares issued	479,703,633	468,513,843
Class A Common Stock, shares outstanding	401,596,984	396,976,896
Treasury stock, shares	78,106,649	71,536,947

Statement Of Income Alternative

Statement Of Income Alternative (USD $)
In Thousands, except Per Share data	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
REVENUES:
Rental and management	$1,668,420	$1,547,035	$1,425,975
Network development services	55,694	46,469	30,619
Total operating revenues	1,724,114	1,593,504	1,456,594
Costs of operations (exclusive of items shown separately below)
Rental and management	383,990	363,024	343,450
Network development services	32,385	26,831	16,172
Depreciation, amortization and accretion	414,619	405,332	522,928
Selling, general, administrative and development expense (including stock-based compensation expense of $60,670, $54,807 and $54,603, respectively)	201,694	180,374	186,483
Other operating expense	19,168	11,189	9,198
Total operating expenses	1,051,856	986,750	1,078,231
OPERATING INCOME	672,258	606,754	378,363
OTHER INCOME (EXPENSE):
Interest income, TV Azteca, net of interest expense of $1,488, $1,489, and $1,490, respectively	14,210	14,253	14,207
Interest income	1,722	3,413	10,848
Interest expense	(249,803)	(253,584)	(235,824)
Loss on retirement of long-term obligations	(18,194)	(4,904)	(35,429)
Other income	1,294	5,988	20,675
Total other expense	(250,771)	(234,834)	(225,523)
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME ON EQUITY METHOD INVESTMENTS	421,487	371,920	152,840
Income tax provision	(182,565)	(135,509)	(59,809)
Income on equity method investments	26	22	19
INCOME FROM CONTINUING OPERATIONS	238,948	236,433	93,050
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF INCOME TAX BENEFIT (PROVISION) OF $3,140, $107,914, and $(6,191), RESPECTIVELY	8,179	110,982	(36,396)
NET INCOME	247,127	347,415	56,654
Net income attributable to noncontrolling interest	(532)	(169)	(338)
NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION	$246,595	$347,246	$56,316
BASIC:
Income from continuing operations attributable to American Tower Corporation	0.6	0.6	0.22
Income (loss) from discontinued operations attributable to American Tower Corporation	0.02	0.28	-0.09
Net income attributable to American Tower Corporation	0.62	0.88	0.14
DILUTED:
Income from continuing operations attributable to American Tower Corporation	0.59	0.58	0.22
Income (loss) from discontinued operations attributable to American Tower Corporation	0.02	0.27	-0.09
Net income attributable to American Tower Corporation	0.61	0.84	0.13
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING:
BASIC	398,375	395,947	413,167
DILUTED	406,948	418,357	426,079

2_Statement Of Income Alternati

Statement Of Income Alternative (Parenthetical) (USD $)
In Thousands	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
Selling, general, administrative and development expense, stock-based compensation expense	$60,670	$54,807	$54,603
Interest income, TV Azteca, interest expense	1,488	1,489	1,490
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, INCOME TAX BENEFIT (PROVISION)	$3,140	$107,914	($6,191)

Statement Of Shareholders Equit

Statement Of Shareholders Equity And Other Comprehensive Income (USD $)
In Thousands, except Share data	Class A Common Stock	Treasury Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Non-controlling Interest	Total
BEGINNING BALANCE at Dec. 31, 2006	$4,378	($404,093)	$7,502,472	$16,079	($2,733,920)	$3,591	$4,388,507
BEGINNING BALANCE (in shares) at Dec. 31, 2006	437,792,629	(13,120,362)
Share based compensation related activity (in shares)	7,400,667
Share based compensation related activity	74		182,658				182,732
Issuance of common stock upon exercise of warrants (in shares)	192,054
Issuance of common stock upon exercise of warrants	2		290				292
Issuance of common stock - Stock Purchase Plan (in shares)	48,886
Issuance of common stock - Stock Purchase Plan			1,658				1,658
Treasury stock activity (in shares)		(40,121,065)
Treasury stock activity		(1,643,725)					(1,643,725)
Net change in fair value of cash flow hedges, net of tax				(3,244)			(3,244)
Net realized gain (loss) on cash flow hedges, net of tax				(6,162)			(6,162)
Net unrealized gain (loss) on available-for-sale securities, net of tax				(3,230)			(3,230)
Net realized gain on available-for-sale securities, net of tax				(7,069)			(7,069)
Convertible notes exchanged for common stock (in shares)	7,325,733
Convertible notes exchanged for common stock	73		88,012				88,085
Cumulative effect of adoption of FIN 48					(25,769)		(25,769)
Reduction in deferred tax asset related to spin off from American Radio Systems			(2,708)				(2,708)
Distributions to noncontrolling interest						(587)	(587)
Net income					56,316	338	56,654
ENDING BALANCE (in shares) at Dec. 31, 2007	452,759,969	(53,241,427)
ENDING BALANCE at Dec. 31, 2007	4,527	(2,047,818)	7,772,382	(3,626)	(2,703,373)	3,342	3,025,434
Share based compensation related activity (in shares)	4,556,143
Share based compensation related activity	46		136,220				136,266
Issuance of common stock upon exercise of warrants (in shares)	726,911
Issuance of common stock upon exercise of warrants	7		502				509
Issuance of common stock - Stock Purchase Plan (in shares)	55,777
Issuance of common stock - Stock Purchase Plan	1		1,678				1,679
Treasury stock activity (in shares)		(18,295,520)
Treasury stock activity		(698,611)					(698,611)
Net change in fair value of cash flow hedges, net of tax				(15,761)			(15,761)
Net realized gain (loss) on cash flow hedges, net of tax				69			69
Net unrealized gain (loss) on available-for-sale securities, net of tax				(521)			(521)
Convertible notes exchanged for common stock (in shares)	10,415,043
Convertible notes exchanged for common stock	104		198,442				198,546
Foreign currency translation adjustment				(192)			(192)
Distributions to noncontrolling interest						(354)	(354)
Net income					347,246	169	347,415
ENDING BALANCE (in shares) at Dec. 31, 2008	468,513,843	(71,536,947)
ENDING BALANCE at Dec. 31, 2008	4,685	(2,746,429)	8,109,224	(20,031)	(2,356,127)	3,157	2,994,479
Share based compensation related activity (in shares)	3,130,516
Share based compensation related activity	31		121,996				122,027
Issuance of common stock upon exercise of warrants (in shares)	72,032
Issuance of common stock upon exercise of warrants	1		319				320
Issuance of common stock - Stock Purchase Plan (in shares)	77,509
Issuance of common stock - Stock Purchase Plan	1		1,852				1,853
Treasury stock activity (in shares)		(6,569,702)
Treasury stock activity		(214,748)					(214,748)
Net change in fair value of cash flow hedges, net of tax				4,770			4,770
Net realized gain (loss) on cash flow hedges, net of tax				119			119
Net unrealized gain (loss) on available-for-sale securities, net of tax				63			63
Convertible notes exchanged for common stock (in shares)	7,909,733
Convertible notes exchanged for common stock	79		160,252				160,331
Foreign currency translation adjustment				2,430			2,430
Distributions to noncontrolling interest						(646)	(646)
Net income					246,595	532	247,127
ENDING BALANCE (in shares) at Dec. 31, 2009	479,703,633	(78,106,649)
ENDING BALANCE at Dec. 31, 2009	$4,797	($2,961,177)	$8,393,643	($12,649)	($2,109,532)	$3,043	$3,318,125

Statement Of Cash Flows Indirec

Statement Of Cash Flows Indirect (USD $)
In Thousands	12 Months Ended Dec. 31, 2009	12 Months Ended Dec. 31, 2008	12 Months Ended Dec. 31, 2007
CASH FLOWS PROVIDED BY OPERATING ACTIVITIES:
Net income	$247,127	$347,415	$56,654
Adjustments to reconcile net income to cash provided by operating activities:
Depreciation, amortization and accretion	414,619	405,332	522,928
Stock-based compensation expense	60,670	54,807	54,603
Income taxes related to discontinued operations	(3,140)	(107,914)	6,191
Decrease (increase) in restricted cash	7,612	(2,048)	(49,818)
Loss (gain) on investments and other non-cash (income) expense	(5,665)	314	(9,469)
Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expense	12,582	11,189	9,214
Loss on retirement of long-term obligations	4,261	26	34,826
Amortization of deferred financing costs, debt discounts and other non-cash interest	9,838	9,426	7,789
Provision for losses on accounts receivable	8,449	2,557	2,470
Deferred income taxes	156,780	92,513	21,239
Changes in assets and liabilities, net of acquisitions:
Accounts receivable	(17,844)	(13,550)	(13,417)
Prepaid and other assets	(24,553)	(6,023)	65,704
Deferred rent asset	(36,306)	(50,369)	(69,673)
Accounts payable and accrued expenses	(9,609)	(27,374)	(7,237)
Accrued interest	(5,927)	(5,067)	(7,617)
Unearned revenue	(9,166)	23,929	19,625
Deferred rent liability	26,590	27,618	26,650
Other long-term liabilities	5,808	10,477	22,017
Cash provided by operating activities	842,126	773,258	692,679
CASH FLOWS USED FOR INVESTING ACTIVITIES:
Payments for purchase of property and equipment and construction activities	(250,262)	(243,484)	(154,381)
Payments for acquisitions, net of cash acquired	(295,603)	(42,817)	(43,962)
Proceeds from sales of available-for-sale securities and other long-term assets	9,103	5,373	22,163
Deposits, restricted cash, short-term investments and other	(6,304)	5,988	(10,000)
Cash used for investing activities	(543,066)	(274,940)	(186,180)
CASH FLOWS USED FOR FINANCING ACTIVITIES:
Proceeds from issuance of certificates in securitization transaction	0	0	1,750,000
Borrowings under credit facilities	0	575,000	2,175,000
Proceeds from issuance of senior notes	900,000	0	500,000
Repayment of notes payable, credit facilities and capital leases	(931,199)	(327,453)	(3,612,240)
Purchases of Class A common stock	(213,288)	(714,655)	(1,642,821)
Proceeds from stock options, warrants and stock purchase plan	65,973	82,928	124,087
Deferred financing costs and other financing activities	(16,428)	(3,992)	(48,666)
Cash used for financing activities	(194,942)	(388,172)	(754,640)
Net effect of changes in foreign currency exchange rates on cash and cash equivalents	98	(192)	0
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	104,216	109,954	(248,141)
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	143,077	33,123	281,264
CASH AND CASH EQUIVALENTS, END OF YEAR	$247,293	$143,077	$33,123

BUSINESS AND SUMMARY OF SIGNIFI

BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	12 Months Ended Dec. 31, 2009 USD / shares
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1.BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES BusinessAmerican Tower Corporation and subsidiaries (collectively, ATC or the Company) is an independent developer, owner and operator of wireless and broadcast communications sites in the United States, Mexico, Brazil and India. The Companys primary business is the leasing of antenna space on multi-tenant communications sites to wireless service providers and radio and television broadcast companies. The Company also manages rooftop and tower sites for property owners, operates in-building and outdoor distributed antenna system (DAS) networks, and provides network development services that support its rental and management operations and the addition of new tenants and equipment on its sites. ATC is a holding company that conducts its operations through its directly and indirectly owned subsidiaries. ATCs principal United States operating subsidiaries are American Towers, Inc. (ATI) and SpectraSite Communications, LLC (SpectraSite). ATC conducts its international operations through its subsidiary, American Tower International, Inc., which in turn conducts operations through its various international operating subsidiaries. The Companys international operations consist of its operations in Mexico, Brazil and India. Principles of Consolidation and Basis of PresentationThe accompanying consolidated financial statements include the accounts of the Company and those entities in which it has a controlling interest, with the exception of Verestar, Inc. (Verestar), as discussed below. All intercompany accounts and transactions have been eliminated. Use of EstimatesThe preparation of financial statements in conformity with accounting principles generally accepted in the United States (GAAP) requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results may differ from those estimates, and such differences could be material to the accompanying consolidated financial statements. The significant estimates in the accompanying consolidated financial statements include impairment of long-lived assets (including goodwill), asset retirement obligations, revenue recognition, stock-based compensation, income taxes and estimated useful lives of assets. The Company considers events or transactions that occur after the balance sheet date but before the financial statements are issued as additional evidence for certain estimates or to identify matters that require additional disclosure. Subsequent events have been evaluated up to the date of issuance of these financial statements (see note 21). Concentrations of Credit RiskThe Company is subject to concentrations of credit risk related to its cash and cash equivalents, notes receivable, trade receivables, deferred rent asset and derivative instruments. The Company mitigates its risk with respect to cash and cash equivalents and derivative instruments by maintaining its deposits and contracts at high quality financial institutions and monitoring the credit ratings of those institutions. The Company derives the largest portion of its revenues, correspondin

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT
	12 Months Ended Dec. 31, 2009 USD / shares
PROPERTY AND EQUIPMENT	2.PROPERTY AND EQUIPMENT Property and equipment (including assets held under capital leases) consist of the following: Estimated Useful Lives (1) As of December31, 2009 2008 (years) (in thousands) Towers Upto20 $ 4,688,162 $ 4,353,652 Equipment 3 15 309,791 269,338 Buildings and improvements 15 32 207,333 213,807 Land and improvements (2) 15 32 374,621 312,711 Construction-in-progress 47,063 63,539 Total 5,626,970 5,213,047 Less accumulated depreciation (2,451,459 ) (2,190,411 ) Property and equipment, net $ 3,175,511 $ 3,022,636 (1) Assets on leased land are depreciated over the shorter of the estimated useful life of the asset or the term of the corresponding ground lease. (2) Estimated useful lives apply to land improvements only. Depreciation expense for the years ended December31, 2009, 2008 and 2007 was $258.9 million, $248.7 million and $341.9 million, respectively. The Company completed its review of the estimated useful lives of its tower assets in the first quarter of 2008. Based on this review, the Company revised the estimated useful lives of its towers and certain tower related intangible assets, primarily its network location intangible assets, from its historical estimate of 15 years to a revised estimate of 20 years, effective January1, 2008. The Company accounted for the change in estimated useful lives as a change in estimate which was accounting for prospectively effective January1, 2008. For the year ended December31, 2008, the change resulted in a reduction in depreciation and amortization expense of approximately $121.2 million and an increase in net income of approximately $74.4 million.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS
	12 Months Ended Dec. 31, 2009 USD / shares
GOODWILL AND OTHER INTANGIBLE ASSETS	3.GOODWILL AND OTHER INTANGIBLE ASSETS The changes in the carrying value of goodwill for the years ended December31, 2009 and 2008 are as follows (in thousands): 2009 2008 Beginning balance as of January1, $ 2,186,233 $ 2,188,312 Net decrease due to adjustments for previously completed acquisitions (2,079 ) Additions 50,663 Effect of foreign currency translation 954 Balance as of December31, $ 2,237,850 $ 2,186,233 The Companys other intangible assets subject to amortization consist of the following as of December31, (in thousands): EstimatedUseful Lives 2009 2008 (years) Acquired network location (1) 20 $ 1,101,232 $ 1,055,313 Acquired customer base 15-20 756,928 737,108 Acquired customer relationships 20 883,491 775,000 Acquired licenses and other intangibles 5-15 21,574 21,574 Economic Rights, TV Azteca 70 30,292 30,292 Total 2,793,517 2,619,287 Less accumulated amortization (1,238,579 ) (1,103,521 ) Intangible assets, net 1,554,938 1,515,766 Deferred financing costs, net (2) N/A 43,695 50,389 Total intangible assets, net $ 1,598,633 $ 1,566,155 (1) Acquired network location intangibles are amortized over the shorter of the term of the corresponding ground lease or 20 years, as the Company considers these intangibles to be directly related to the tower assets. (2) Deferred financing costs are amortized over the term of the respective debt instruments to which they relate. This amortization is included in interest expense, rather than in amortization of intangibles. The acquired network location intangible represents the value to the Company of the incremental revenue growth which could potentially be obtained from leasing the excess capacity on acquired communications sites. The acquired customer base and acquired customer relationship intangibles typically represent the value to the Company of customer contracts and relationships in place at the time of an acquisition, including assumptions regarding estimated renewals. The Company has historically differentiated these intangible assets based upon whether or not they result from an acquisition which meets the criteria of a business combination (acquired customer relationship) or does not meet the criteria of a business combination (acquired customer base). The acquired licenses and other intangibles consist primarily of the TVAzteca Economic Rights, detailed in note 4, and non-competition agreements acquired from SpectraSite, Inc., and in other tower acquisitions. The Company amortizes these intangibles on a straight-line basis. As of December31, 2009, the weighted average amortization period of the Companys intangible assets, excluding the TV Azteca Economic Rights is approximately 11 years. Amortization of intangible assets for the years ended December31, 2009, 2008 and 2007 ag

NOTES RECEIVABLE AND OTHER LONG

NOTES RECEIVABLE AND OTHER LONG-TERM ASSETS
	12 Months Ended Dec. 31, 2009 USD / shares
NOTES RECEIVABLE AND OTHER LONG-TERM ASSETS	4.NOTES RECEIVABLE AND OTHER LONG-TERM ASSETS Notes receivable and other long-term assets consist of the following as of December31, (in thousands): 2009 2008 Deferred rent asset $ 365,112 $ 329,250 Notes receivable 110,565 112,378 Long-term prepaid assets 84,801 47,954 Other miscellaneous assets 90,655 91,951 Balance as of December31, $ 651,133 $ 581,533 Deferred Rent AssetThe Companys deferred rent asset is associated with non-cancelable tenant leases that contain fixed escalation clauses over the terms of the applicable leases. Notes ReceivableIn 2000, the Company loaned TV Azteca, S.A. de C.V. (TV Azteca), the owner of a major national television network in Mexico, $119.8 million. The loan has an interest rate of 13.11%, payable quarterly. As of December31, 2009 and 2008, approximately $119.8 million undiscounted (approximately $108.2 million discounted) under the loan was outstanding and included in notes receivable and other long-term assets in the accompanying consolidated balance sheets. The term of the loan is seventy years; however, the loan may be prepaid by TV Azteca without penalty during the last fifty years of the agreement. The discount on the loan is being amortized to interest income, TV Azteca, net of interest expense, using the effective interest method over the seventy-year term of the loan. Simultaneous with the signing of the loan agreement, the Company also entered into a seventy year Economic Rights Agreement with TV Azteca regarding space not used by TV Azteca on approximately 190 of its broadcast towers. In exchange for the issuance of the below market interest rate loan and the annual payment of $1.5 million to TV Azteca (under the Economic Rights Agreement), the Company has the right to market and lease the unused tower space on the broadcast towers (the Economic Rights). TV Azteca retains title to these towers and is responsible for their operation and maintenance. The Company is entitled to 100% of the revenues generated from leases with tenants on the unused space and is responsible for any incremental operating expenses associated with those tenants. The term of the Economic Rights Agreement is seventy years; however, TV Azteca has the right to purchase, at fair market value, the Economic Rights from the Company at any time during the last fifty years of the agreement. Should TV Azteca elect to purchase the Economic Rights (in whole or in part), it would also be obligated to repay a proportional amount of the loan discussed above at the time of such election. The Companys obligation to pay TV Azteca $1.5 million annually would also be reduced proportionally. The Company has accounted for the annual payment of $1.5 million as a capital lease (initially recording an asset and a corresponding liability of approximately $18.6 million). The capital lease asset and the discount on the note, which aggregate approximately $30.2 million, represent the cost to acquire the Economic Rights, which are recorded as an intangible asset and are being amortized over the seventy-year life of the Economic Rig

ACQUISITIONS

ACQUISITIONS
	12 Months Ended Dec. 31, 2009 USD / shares
ACQUISITIONS	5.ACQUISITIONS XCEL AcquisitionOn May27, 2009, the Company acquired 100% of the outstanding common and preferred stock of XCEL Telecom Private Limited (XCEL) for an aggregate cash purchase price of approximately $96.0 million, consisting of an initial cash payment of $98.0 million, net of preliminary purchase price adjustments of approximately $2.0 million. XCEL provides shared telecom infrastructure services to telecom operators in India. At closing, XCEL owned approximately 1,660 towers located in fifteen telecom circles in India. Additionally, XCEL had approximately 70 towers in various stages of development. The acquisition of XCEL is consistent with the Companys strategy to expand in selected geographic areas. The acquisition of XCEL has been accounted for as a business combination. The operating results of the acquired business have been included in the Companys consolidated results of operations since the date of acquisition. The operating results of XCEL for periods prior to the acquisition by the Company were not material to the Companys consolidated results of operations and accordingly, pro forma results of operations have not been presented. The purchase price was preliminarily allocated to the acquired assets and liabilities based on the estimated fair value at the date of acquisition. The preliminary goodwill of $50.6 million is calculated as the purchase premium after first allocating the purchase price to the fair value of net assets acquired and represents future growth opportunities and established infrastructure that XCEL provides. The allocation of the purchase price will be finalized upon the final settlement of the purchase price with the sellers and the subsequent completion of analyses of the fair value of XCELs assets and liabilities and certain tax matters. These analyses include examination of the underlying book and tax records, completion of an appraisal of certain tangible and intangible assets and liabilities and a full assessment of legal and tax contingencies. Certain immaterial adjustments were made to the assets acquired and liabilities assumed upon completion of updated analyses of the fair value of XCELs assets and liabilities. The following table summarizes the aggregate purchase consideration paid for XCEL and the amounts of assets acquired and liabilities assumed at the acquisition date (in thousands): Current assets (1) $ 27,808 Other non-current assets (2) 31,804 Property and equipment 83,523 Intangible assets (3) 38,091 Current liabilities (23,066 ) Long-term debt (72,013 ) Other long-term liabilities (2) (40,745 ) Fair value of net assets acquired $ 45,402 Preliminary goodwill (4) $ 50,641 (1) Includes approximately $5.8 million of accounts receivable which approximates the gross value due the Company under certain contractual arrangements. (2) Includes contingent amounts of approximately $27.2 million related to tax positions related to the acquisition and a related indemnification asset. (3) Consists of customer relationships of approximately $18.3 million and netwo

LONG-TERM OBLIGATIONS

LONG-TERM OBLIGATIONS
	12 Months Ended Dec. 31, 2009 USD / shares
LONG-TERM OBLIGATIONS	6.LONG-TERM OBLIGATIONS Outstanding amounts under the Companys long-term financing arrangements consist of the following as of December31, (in thousands): 2009 2008 Commercial Mortgage Pass-Through Certificates, Series 2007-1 $ 1,750,000 $ 1,750,000 Revolving credit facility 550,000 750,000 Term loan 325,000 325,000 XCEL credit facility 73,367 4.625% senior notes 599,210 7.00% senior notes 500,000 500,000 7.25% senior notes 295,038 5.0% convertible notes 59,683 59,683 7.25% senior subordinated notes 288 288 7.125% senior notes 501,107 7.50% senior notes 225,000 3.00% convertible notes 161,893 Notes payable and capital leases 58,995 60,134 Other convertible notes 41 Total 4,211,581 4,333,146 Less current portion of long-term obligations (70,521 ) (1,837 ) Long-term obligations $ 4,141,060 $ 4,331,309 Commercial Mortgage Pass-Through Certificates, Series 2007-1During the year ended December31, 2007, the Company completed a securitization transaction (the Securitization) involving assets related to 5,295 broadcast and wireless communications towers (the Secured Towers) owned by two special purpose subsidiaries of the Company, through a private offering of $1.75 billion of Commercial Mortgage Pass-Through Certificates, Series 2007-1 (the Certificates). The Certificates were issued by American Tower Trust I (the Trust), a trust established by American Tower Depositor Sub, LLC (the Depositor), an indirect wholly owned special purpose subsidiary of the Company. The assets of the Trust consist of a recourse loan (the Loan) initially made by the Depositor to American Tower Asset Sub, LLC and American Tower Asset Sub II, LLC (the Borrowers), pursuant to a Loan and Security Agreement among the foregoing parties dated as of May4, 2007 (the Loan Agreement). The Borrowers are special purpose entities formed solely for the purpose of holding the Secured Towers subject to the Securitization. The Certificates were issued in seven separate classes, comprised of ClassA-FX, ClassA-FL, Class B, Class C, Class D, Class E and Class F. Each of the Certificates in Classes B, C, D, E and F are subordinated in right of payment to any other class of Certificates which has an earlier alphabetical designation. The Certificates were issued with terms identical to the Loan except for the ClassA-FL Certificates, which bear interest at a floating rate while the related component of the Loan bears interest at a fixed rate, as described below. The various classes of Certificates were issued with a weighted average interest rate of approximately 5.61%. The Certificates have an expected life of approximately seven years with a final repayment date in April 2037. The Company used the net proceeds from the Securitization to repay all amounts outstanding under the SpectraSite credit facilities, including approximately $765.0 million in principal, plus accrued

OTHER LONG-TERM LIABILITIES

OTHER LONG-TERM LIABILITIES
	12 Months Ended Dec. 31, 2009 USD / shares
OTHER LONG-TERM LIABILITIES	7.OTHER LONG-TERM LIABILITIES Other long-term liabilities consist of the following as of December31, (in thousands): 2009 2008 Straight-line rent $ 194,003 $ 170,762 Unearned revenue 63,419 62,893 Asset retirement obligations 245,212 210,811 Other miscellaneous liabilities 159,605 138,766 Balance as of December31, $ 662,239 $ 583,232

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS
	12 Months Ended Dec. 31, 2009 USD / shares
ASSET RETIREMENT OBLIGATIONS	8. ASSET RETIREMENT OBLIGATIONS The changes in the carrying value of the Companys asset retirement obligations for years ended December31, 2009 and 2008 are as follows (in thousands): 2009 2008 Beginning balance as of January1, $ 210,811 $ 184,162 Additions (deductions) and revisions in estimated cash flows, net of settlements 18,869 12,976 Accretion expense 15,532 13,673 Balance as of December31, $ 245,212 $ 210,811 As of December31, 2009, the estimated undiscounted future cash outlay for asset retirement obligations was approximately $862.9 million.

DERIVATIVE FINANCIAL INSTRUMENT

DERIVATIVE FINANCIAL INSTRUMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
DERIVATIVE FINANCIAL INSTRUMENTS	9.DERIVATIVE FINANCIAL INSTRUMENTS The Company enters into interest rate protection agreements to manage exposure on the variable rate debt under its credit facilities and to manage variability in cash flows relating to forecasted interest payments (interest rate swaps). Under these agreements, the Company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract. Such exposure is limited to the current value of the contract at the time the counterparty fails to perform. The Company believes its contracts as of December31, 2009 and 2008 are with credit-worthy institutions. For additional information regarding the Companys derivative financial instruments, see note 1. As of December31, 2009 and 2008, the carrying amounts of the Companys derivative financial instruments, along with the estimated fair values of the related liabilities are reflected in other long-term liabilities in the accompanying consolidated balance sheet, are as follows (in thousands except percentages): As of December31, 2009 Notional Amount Interest Rate Term CarryingAmount and Fair Value Interest rate swap agreements $ 100,000 4.08% Expiring2010 $ (3,535 ) Interest rate swap agreement 525,000 2.86%-3.74% Expiring 2011 (15,317 ) Total $ 625,000 $ (18,852 ) As of December31, 2008 Notional Amount Interest Rate Term CarryingAmount and Fair Value Interest rate swap agreements $ 150,000 3.95% Expiring2009 $ (3,681 ) Interest rate swap agreements 100,000 4.08% Expiring 2010 (5,125 ) Interest rate swap agreements 525,000 2.86%-3.74% Expiring 2011 (17,815 ) Total $ 775,000 $ (26,621 ) As of December31, 2009, the Company held 13 interest rate swap agreements to manage exposure to variability in cash flows relating to forecasted interest payments under its Revolving Credit Facility and Term Loan. As of December31, 2008, the Company held fifteen interest rate swap agreements to manage exposure to variability in cash flows relating to forecasted interest payments under its Revolving Credit Facility. During the year ended December31, 2009, two of the outstanding contracts matured. During the year ended December31, 2009, the interest rate swap agreements held by the Company had the following impact on other comprehensive income (OCI) included in the consolidated balance sheet and in the consolidated statement of operations: Amount of Gain/(Loss) Recognized in OCI on Derivatives (Effective Portion) Location of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Amount of Gain/(Loss) Reclassified from Accumulated OCI into Income (Effective Portion) Location of Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) Gain/(Loss) Recognized in Income on Derivative (Ineffective Portion and Amount Excluded from Effectiveness Testing) $(14,234)

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
FAIR VALUE MEASUREMENTS	10.FAIR VALUE MEASUREMENTS Items Measured at Fair Value on a Recurring BasisThe fair value of the Companys financial assets and liabilities that are required to be measured on a recurring basis at fair value is as follows: December31, 2009 FairValueMeasurementsUsing Assets/Liabilities at Fair Value Level 1 Level 2 Level3 (in thousands) Assets: Short-term investments and available-for-sale securities (1) $ 9,776 $ 9,776 Liabilities: Interest rate swap agreements (2) $ 18,852 $ 18,852 December31, 2008 FairValueMeasurementsUsing Assets/Liabilities at Fair Value Level 1 Level 2 Level3 (in thousands) Assets: Short-term investments and available-for-sale securities (1) $ 2,028 $ 2,028 Liabilities: Interest rate swap agreements (2) $ 26,621 $ 26,621 (1) Consists of available-for-sale securities traded on active markets as well as certain Brazilian Treasury securities that are highly liquid and actively traded in over-the-counter markets. (2) Consists of interest rate swap agreements based on the London Interbank Offering Rate (LIBOR) swap rate whose value is determined using a pricing model with inputs that are observable in the market or can be derived principally from, or corroborated by, observable market data. The fair value of the Companys interest rate swap agreements recorded as liabilities is included in other long-term liabilities in the accompanying consolidated balance sheet as of December31, 2009. Fair valuations of the Companys interest rate swap agreements reflect the value of the instrument including the values associated with counterparty risk and the Companys own credit standing. The Company includes in the valuation of the derivative instrument the value of the net credit differential between the counterparties to the derivative contract. Items Measured at Fair Value on a Nonrecurring BasisThe Companys long-lived assets, intangibles and goodwill are measured at fair value on a nonrecurring basis. During the year ended December31, 2009, the Company recorded charges of approximately $12.4 million to write down certain long-lived assets to their net realizable value. The $12.4 million write down was determined by comparing the estimated proceeds from sales of assets or the projected future discounted cash flows to be provided from the long-lived assets (calculated using Level 3 inputs) to the assets carrying value.

INCOME TAXES

INCOME TAXES
	12 Months Ended Dec. 31, 2009 USD / shares
INCOME TAXES	11.INCOME TAXES The Company files a consolidated United States federal tax return, which includes all of its wholly owned domestic subsidiaries, and the Company also files tax returns in various states and countries. The Companys state tax returns reflect different combinations of the Companys subsidiaries and are dependent on the connection each subsidiary has with a particular state. The following information pertains to the Companys income taxes on a consolidated basis. The income tax provision from continuing operations was comprised of the following for the years ended December31, (in thousands): 2009 2008 2007 Current: Federal $ (6,508 ) $ $ (911 ) State (5,623 ) (5,207 ) (2,531 ) Foreign (13,654 ) (37,789 ) (35,127 ) Deferred: Federal (156,282 ) (97,528 ) (61,513 ) State (8,412 ) (11,591 ) 45,025 Foreign 7,914 16,606 (4,752 ) Income tax provision $ (182,565 ) $ (135,509 ) $ (59,809 ) The domestic and international components of income from continuing operations before income taxes and income on equity method investments were as follows for the years ended December31, (in thousands): 2009 2008 2007 United States $ 407,112 $ 295,139 $ 118,922 International 14,375 76,781 33,918 Total $ 421,487 $ 371,920 $ 152,840 A reconciliation between the U.S. statutory rate and the effective rate from continuing operations was as follows for the years ended December31, 2009 2008 2007 Statutory tax rate 35 % 35 % 35 % State taxes, net of federal benefit 3 4 (19 ) Non-deductible losses on retirement of long-term obligations 1 Non-deductible stock compensation 1 1 2 Foreign taxes 3 3 9 Changes in uncertain tax positions (4 ) 2 (1 ) Valuation allowance (2 ) 4 Foreign currency gains 3 (7 ) 8 Audit settlement 2 Effective tax rate 43 % 36 % 39 % The components of the net deferred tax asset and related valuation allowance are as follows as of December31, (in thousands): 2009 2008 Current assets: Allowances, accruals and other items not currently deductible $ 21,771 $ 14,908 Net operating loss carryforwards 173,062 154,896 Current deferred liabilities (10,316 ) (10,356 ) Net short-term deferred tax assets $ 184,517 $ 159,448 Long-term items: Assets: Net operating loss carryforwards 318,557 474,927 Basis step-up from corporate restructuring and tax planning strategies 31,358 39,998 Accrued asset retirement obligations 81,573 66,409 Stock awards 35,549 30,742 Deferred reve

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION
	12 Months Ended Dec. 31, 2009 USD / shares
STOCK-BASED COMPENSATION	12.STOCK-BASED COMPENSATION The Company recognized stock-based compensation of $60.7 million, $54.8 million and $54.6 million for the years ended December31, 2009, 2008 and 2007, respectively. Stock-based compensation for the year ended December31, 2009 included $6.9 million related to the modification of the vesting and exercise terms for certain employees equity awards. The Company did not capitalize any stock-based compensation during the years ended December31, 2009 and 2008. Summary of Stock-Based Compensation PlansThe Company maintains equity incentive plans that provide for the grant of stock-based awards to its directors, officers and employees. In May 2007, the Companys stockholders approved the 2007 Equity Incentive Plan (2007 Plan), which provides for the grant of non-qualified and incentive stock options, as well as restricted stock units, restricted stock and other stock-based awards. Under the 2007 Plan, exercise prices in the case of non-qualified and incentive stock options are not less than the fair market value of the underlying common stock on the date of grant. Equity awards typically vest ratably over various periods, generally four years, and generally expire ten years from the date of grant. Stock OptionsDuring the year ended December31, 2009, the Company granted options to purchase approximately 1.7million shares of Common Stock under the 2007 Plan. As of December31, 2009, the Company had the ability to grant stock-based awards with respect to an aggregate of 23.7million shares of Common Stock under the 2007 Plan. The fair value of each option grant is estimated on the date of grant using the Black-Scholes option pricing model based on the assumptions noted in the table below. The risk-free treasury rate is based on the U.S. Treasury yield in effect at the accounting measurement date. The expected life (estimated period of time outstanding) was estimated using the vesting term and historical exercise behavior of Company employees. The expected volatility was based on historical volatility for a period equal to the expected life of the stock options. Key assumptions used to apply this pricing model are as follows: 2009 2008 2007 Range of risk-free interest rates 1.41%2.04% 1.44%3.05% 3.41%4.92% Weighted average risk-free interest rate 1.71% 1.89% 4.40% Expected life of option grants 4.00 years 4.00 years 6.25 years Range of expected volatility of underlying stock price 36.00%36.63% 28.51%35.30% 27.53%28.11% Weighted average expected volatility of underlying stock price 36.23% 29.10% 28.00% Expected annual dividends N/A N/A N/A As of December31, 2009, total unrecognized compensation expense related to unvested stock options was approximately $40.1 million and is expected to be recognized over a weighted average period of approximately two years. The amount of cash received from the exercise of stock options was approximately $63.9 million during the year ended December31, 2009. During the year ended December31, 2009, the Company realized approximately $0.3 million of state tax benefits from the exercise of stock option

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY
	1/1/2009 - 12/31/2009 USD / shares
STOCKHOLDERS' EQUITY	13.STOCKHOLDERS EQUITY WarrantsIn January 2003, the Company issued warrants to purchase approximately 11.4million shares of its Common Stock in connection with an offering of 808,000 units, each consisting of $1,000 principal amount at maturity of ATI 12.25% senior subordinated discount notes due 2008 and a warrant to purchase 14.0953 shares of the Companys Common Stock. These warrants became exercisable on January29, 2006 at an exercise price of $0.01 per share. As these warrants expired on August1, 2008, none were outstanding as of December31, 2008. In August 2005, the Company completed its merger with SpectraSite, Inc. and assumed outstanding warrants to purchase shares of SpectraSite, Inc. common stock. As of the merger completion date, each warrant was exercisable for two shares of SpectraSite, Inc. common stock at an exercise price of $32 per warrant. Upon completion of the merger, each warrant to purchase shares of SpectraSite, Inc. common stock automatically converted into a warrant to purchase shares of the Companys Common Stock, such that upon exercise of each warrant, the holder has a right to receive 3.575 shares of the Companys Common Stock in lieu of each share of SpectraSite, Inc. common stock that would have been receivable under each assumed warrant prior to the merger. Upon completion of the Companys merger with SpectraSite, Inc., these warrants were exercisable for approximately 6.8million shares of Common Stock. Of these warrants, warrants to purchase approximately 1.7million and 1.8million shares of Common Stock remained outstanding as of December31, 2009 and 2008, respectively. These warrants expired on February10, 2010. Stock Repurchase ProgramDuring the year ended December31, 2009, the Company repurchased an aggregate of approximately 6.6million shares of its Common Stock for an aggregate of $214.7 million, including commissions and fees, of which $210.2 million was paid in cash prior to December31, 2009 and $4.5 million was included in accounts payable and accrued expenses in the accompanying consolidated balance sheet as of December31, 2009, pursuant to its publicly announced stock repurchase program, as described below. In February 2008, the Companys Board of Directors approved a $1.5 billion stock repurchase program (2008 Buyback). In the near term, the Company expects to fund repurchases through a combination of cash on hand, cash provided by operations and borrowings under its Revolving Credit Facility. Purchases under this stock repurchase program are subject to the Company having available cash to fund repurchases. Under the program, the Company is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices as permitted by securities laws and other legal requirements, and subject to market conditions and other factors. To facilitate repurchases, the Company makes purchases pursuant to trading plans under Rule 10b5-1 of the Exchange Act, which allows the Company to repurchase shares during periods when it otherwise might be prevented from doing so under insider trading laws or because of self-imposed trading blackout periods.

IMPAIRMENTS, NET LOSS ON SALE O

IMPAIRMENTS, NET LOSS ON SALE OF LONG-LIVED ASSETS
	12 Months Ended Dec. 31, 2009 USD / shares
IMPAIRMENTS, NET LOSS ON SALE OF LONG-LIVED ASSETS	14.IMPAIRMENTS, NET LOSS ON SALE OF LONG-LIVED ASSETS During the years ended December31, 2009, 2008 and 2007, the Company recorded impairments and net loss on sale of long-lived assets (primarily related to its rental and management segment) of $12.6 million, $11.2 million and $9.2 million, respectively. Included in these amounts are impairment charges to write down certain assets to net realizable value after an indicator of impairment had been identified of approximately $12.4 million, $6.8 million and $6.2 million for the years ended December31, 2009, 2008 and 2007, respectively. Also included in these amounts are net losses associated with the sales of certain non-core towers and other assets and other miscellaneous items of $0.2 million, $4.4 million, and $3.0 million, for the years ended December31, 2009, 2008 and 2007, respectively.

EARNINGS PER COMMON SHARE

EARNINGS PER COMMON SHARE
	12 Months Ended Dec. 31, 2009 USD / shares
EARNINGS PER COMMON SHARE	15.EARNINGS PER COMMON SHARE The following table sets forth basic and diluted income from continuing operations per common share computational data for the years ended December31, 2009, 2008 and 2007 (in thousands, except per share data): 2009 2008 2007 Income from continuing operations attributable to American Tower Corporation $ 238,416 $ 236,264 $ 92,712 Effect of convertible notes 1,734 5,224 Income available to common shareholders, as adjusted for diluted earnings $ 240,150 $ 241,488 $ 92,712 Basic weighted average common shares outstanding 398,375 395,947 413,167 Dilutive securities: Stock awards, warrants and convertible notes 8,573 22,410 12,912 Diluted weighted average common shares outstanding 406,948 418,357 426,079 Basic income from continuing operations attributable to American Tower Corporation per common share $ 0.60 $ 0.60 $ 0.22 Diluted income from continuing operations attributable to American Tower Corporation per common share $ 0.59 $ 0.58 $ 0.22 For the years ended December31, 2009, 2008 and 2007, the weighted average number of common shares outstanding excludes shares issuable upon conversion of the Companys convertible notes of 1.2million, 1.2million and 18.5million, respectively, and stock options and share based awards of 9.5million, 6.3million and 6.1million, respectively, as the effect would be anti-dilutive.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES
	12 Months Ended Dec. 31, 2009 USD / shares
COMMITMENTS AND CONTINGENCIES	16.COMMITMENTS AND CONTINGENCIES Lease ObligationsThe Company leases certain land, office and tower space under operating leases that expire over various terms. Many of the leases contain renewal options with specified increases in lease payments upon exercise of the renewal option. Escalation clauses present in operating leases, excluding those tied to CPI or other inflation-based indices, are recognized on a straight-line basis over the non-cancelable term of the lease. Future minimum rental payments under non-cancelable operating leases include payments for certain renewal periods at the Companys option because failure to renew could result in a loss of the applicable tower site and related revenues from tenant leases, thereby making it reasonably assured that the Company will renew the lease. Such payments in effect at December31, 2009 are as follows (in thousands): Year Ending December31, 2010 $ 258,427 2011 251,553 2012 243,457 2013 237,828 2014 233,483 Thereafter 2,814,908 Total $ 4,039,656 Aggregate rent expense (including the effect of straight-line rent expense) under operating leases for the years ended December31, 2009, 2008 and 2007 approximated $275.1 million, $263.9 million and $246.4 million, respectively. Future minimum payments under capital leases in effect at December31, 2009 are as follows (in thousands): Year Ending December31, 2010 $ 4,489 2011 3,985 2012 3,522 2013 3,379 2014 3,424 Thereafter 182,933 Total minimum lease payments 201,732 Less amounts representing interest (156,665 ) Present value of capital lease obligations $ 45,067 Customer LeasesThe Companys lease agreements with its customers vary depending upon the region and the industry of the customer. In the United States, initial terms for television and radio broadcast leases typically range between 10 to 20 years, while leases for wireless communications providers generally have initial terms of five to ten years. In Mexico, Brazil and India, the Companys typical tenant leases have an initial term of 10years. In most cases, the Companys tenant leases have multiple renewal terms at the option of the customer. Future minimum rental receipts expected from customers under non-cancelable operating lease agreements in effect at December31, 2009 are as follows (in thousands): Year Ending December31, 2010 $ 1,580,074 2011 1,479,003 2012 1,383,804 2013 1,250,129 2014 1,088,969 Thereafter 2,739,799 Total $ 9,521,778 Legal and Governmental Proceedings Related to Review of Stock Option Granting Practices and Related AccountingDuring the year ended December31, 2006, the Company received a letter of informal inquiry from the SEC Division of Enforcement, a subpoena from the United States Attorneys Office for the Eastern District of New York, and an Information Document Request from the Internal Revenue Service (IRS), each requesting documents and other informati

SUPPLEMENTAL CASH FLOW INFORMAT

SUPPLEMENTAL CASH FLOW INFORMATION
	12 Months Ended Dec. 31, 2009 USD / shares
SUPPLEMENTAL CASH FLOW INFORMATION	17.SUPPLEMENTAL CASH FLOW INFORMATION Supplemental cash flow information and non-cash investing and financing activities for the years ended December31 are as follows (in thousands): December31, 2009 2008 2007 Supplemental cash flow information: Cash paid during the period for interest $ 242,649 $ 248,551 $ 236,389 Cash paid (received) during the period for income taxes (net of refunds) 40,214 35,062 (29,034 ) Non-cash investing and financing activities: Conversion of convertible notes (excluding loss on retirement) 160,331 198,545 88,085 Decrease in accounts payable and accrued expenses for purchases of property and equipment and construction activities (6,555 ) (5,593 ) (1,474 ) Capital leases 2,215 1,439 1,639

BUSINESS SEGMENTS

BUSINESS SEGMENTS
	12 Months Ended Dec. 31, 2009 USD / shares
BUSINESS SEGMENTS	18.BUSINESS SEGMENTS As of December31, 2009, the Company operates in two business segments: rental and management and network development services. The rental and management segment provides for the leasing and subleasing of antenna sites on multi-tenant towers and other properties for a diverse range of customers primarily in the wireless communications and broadcast industries. Through its network development services segment, the Company offers tower-related services in the United States, including site acquisition, zoning and permitting services and structural analysis services which directly support the Companys site leasing business and the addition of new tenants and equipment on its sites. The accounting policies applied in compiling the segment information below are similar to those described in note 1. In evaluating financial performance, management focuses on segment gross margin and segment operating profit. The Company defines segment gross margin as segment revenue less segment operating expenses excluding depreciation, amortization and accretion; selling, general, administrative and development expense; and other operating expense. The Company defines segment operating profit as segment gross margin less selling, general, administrative and development expense attributable to the segment, excluding stock-based compensation expense and corporate expenses. For reporting purposes, the rental and management segment operating profit and segment gross margin also include interest income, TV Azteca, net. These measures of segment gross margin and segment operating profit are also before interest income, interest expense, loss on retirement of long-term obligations, other income (expense), noncontrolling interest in net earnings of subsidiaries, income (loss) on equity method investments, income taxes and discontinued operations. The Companys reportable segments are strategic business units that offer different services. They are managed separately because each segment requires different resources, skill sets and marketing strategies. Summarized financial information concerning the Companys reportable segments as of and for the years ended December31, 2009, 2008 and 2007 is shown in the tables below. The Other column below represents amounts excluded from specific segments, such as stock-based compensation expense and corporate expenses included in selling, general, administrative and development expense; other operating expense; interest income; interest expense; loss on retirement of long-term obligations; and other income (expense), as well as reconciles segment operating profit to income (loss) before income taxes, noncontrolling interest and income (loss) on equity method investments. Rental and management segment gross margin for the years ended December31, 2009, 2008 and 2007 includes non-cash straight-line revenue of $36.3 million, $50.4 million and $69.7 million, respectively and non-cash straight-line expense of $26.6 million, $27.6 million and $26.7 million, respectively. Rental and Management Network Development Services Other Total (in thousands) Year Ended December31, 2

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS
	12 Months Ended Dec. 31, 2009 USD / shares
RELATED PARTY TRANSACTIONS	19.RELATED PARTY TRANSACTIONS During the years ended December31, 2009, 2008, and 2007, the Company had no significant related party transactions.

SELECTED QUARTERLY FINANCIAL DA

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
	12 Months Ended Dec. 31, 2009 USD / shares
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	20.SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) Selected quarterly financial data for the years ended December31, 2009 and 2008 is as follows (in thousands, except per share data): Three Months Ended YearEnded December31, March31, June30, September30, December31, 2009: Operating revenues $ 408,678 $ 423,358 $ 444,105 $ 447,973 $ 1,724,114 Cost of operations (1) 97,705 102,573 108,594 107,503 416,375 Operating income 150,285 166,447 179,077 176,449 672,258 Net income attributable to American Tower Corporation 58,601 56,289 67,355 64,350 246,595 Basic net income per common share 0.15 0.14 0.17 0.16 0.62 Diluted net income per common share 0.15 0.14 0.17 0.16 0.61 Three Months Ended YearEnded December31, March31, June30, September30, December31, 2008: Operating revenues $ 382,184 $ 393,728 $ 409,268 $ 408,324 $ 1,593,504 Cost of operations (1) 90,558 96,874 103,857 98,566 389,855 Operating income 144,856 154,790 154,367 152,741 606,754 Net income attributable to American Tower Corporation (2) 42,155 158,786 60,466 85,839 347,246 Basic net income per common share 0.11 0.40 0.15 0.22 0.88 Diluted net income per common share 0.10 0.38 0.15 0.21 0.84 (1) Represents operating expenses, exclusive of depreciation, amortization and accretion, selling, general, administrative and development expense, and other operating expenses. (2) The three months ended June30, 2008, includes an income tax benefit of $110.1 million related to losses associated with our investment in Verestar as income from discontinued operations.

SUBSEQUENT EVENT

SUBSEQUENT EVENT
	12 Months Ended Dec. 31, 2009 USD / shares
SUBSEQUENT EVENT	21.SUBSEQUENT EVENT Asia AcquisitionOn February24, 2010,the Company announced that its indirect wholly owned Indian subsidiary, Transcend, has entered into a definitive stock purchase agreement pursuant to which it will acquire from three Indian companies, Essar Telecom Infrastructure Holding Overseas Ltd., Essar Securities Limited, and Essar Investments, Limited, substantially all of the issued and outstanding shares of Essar Telecom Infrastructure Private Limited (ETIPL).ETIPL owns and operates approximately 4,450 wireless tower sites in India, including a number of tower sites that are currently under construction.The total consideration for the acquisition is estimated to be $430 million and is subject to certain post closing adjustments.The consideration to be provided will be satisfied with cash and the assumption of ETIPLs net liabilities at closing. The Company expects to use its Revolving Credit Facility to satisfy the cash requirements at closing. Consummation of the acquisition is subject to certain conditions, including receipt of regulatory approvals and other customary closing conditions. The transaction is expected to close by the end of the second quarter of 2010.

Document Information

Document Information
	12 Months Ended Dec. 31, 2009 USD / shares
Document Type	10-K
Amendment Flag	false
Document Period End Date	2009-12-31

Entity Information

Entity Information (USD $)
	12 Months Ended Dec. 31, 2009	Feb. 12, 2010	Jun. 30, 2009
Trading Symbol	AMT
Entity Registrant Name	AMERICAN TOWER CORP /MA/
Entity Central Index Key	0001053507
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		402,669,455
Entity Public Float			$12,400,000,000