Document_and_Entity_Informatio
Document and Entity Information (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2013 | Feb. 14, 2014 | Jun. 30, 2013 |
Document And Entity Information [Abstract] | ' | ' | ' |
Document Type | '10-K | ' | ' |
Amendment Flag | 'false | ' | ' |
Document Period End Date | 31-Dec-13 | ' | ' |
Document Fiscal Year Focus | '2013 | ' | ' |
Document Fiscal Period Focus | 'FY | ' | ' |
Entity Registrant Name | 'AMERICAN TOWER CORP /MA/ | ' | ' |
Entity Central Index Key | '0001053507 | ' | ' |
Current Fiscal Year End Date | '--12-31 | ' | ' |
Entity Filer Category | 'Large Accelerated Filer | ' | ' |
Entity Common Stock, Shares Outstanding | ' | 395,017,519 | ' |
Entity Public Float | ' | ' | $28.70 |
Entity Current Reporting Status | 'Yes | ' | ' |
Entity Well-known Seasoned Issuer | 'Yes | ' | ' |
Entity Voluntary Filers | 'No | ' | ' |
CONSOLIDATED_BALANCE_SHEETS
CONSOLIDATED BALANCE SHEETS (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
CURRENT ASSETS: | ' | ' | ||
Cash and cash equivalents | $293,576 | $368,618 | ||
Restricted cash | 152,916 | 69,316 | ||
Short-term investments | 18,612 | [1] | 6,018 | [1] |
Accounts receivable, net | 151,084 | 143,562 | ||
Prepaid and other current assets | 314,067 | 222,999 | [2] | |
Deferred income taxes | 22,401 | 25,754 | ||
Total current assets | 952,656 | 836,267 | ||
PROPERTY AND EQUIPMENT, net | 7,262,175 | 5,765,856 | [2] | |
GOODWILL | 3,729,901 | 2,842,643 | [3] | |
OTHER INTANGIBLE ASSETS, net | 6,701,459 | 3,206,085 | [4] | |
DEFERRED INCOME TAXES | 262,529 | 209,589 | ||
DEFERRED RENT ASSET | 918,847 | 776,201 | ||
NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | 445,004 | 452,788 | ||
TOTAL | 20,272,571 | 14,089,429 | [3] | |
CURRENT LIABILITIES: | ' | ' | ||
Accounts payable | 171,050 | 89,578 | ||
Accrued expenses | 415,324 | 286,962 | ||
Distributions payable | 575 | 189 | ||
Accrued interest | 105,751 | 71,271 | ||
Current portion of long-term obligations | 70,132 | 60,031 | ||
Unearned revenue | 161,926 | 124,147 | ||
Total current liabilities | 924,758 | 632,178 | ||
LONG-TERM OBLIGATIONS | 14,408,146 | 8,693,345 | ||
ASSET RETIREMENT OBLIGATIONS | 526,869 | 435,624 | ||
OTHER NON-CURRENT LIABILITIES | 822,758 | 644,101 | [2] | |
Total liabilities | 16,682,531 | 10,405,248 | ||
COMMITMENTS AND CONTINGENCIES | ' | ' | ||
EQUITY: | ' | ' | ||
Preferred stock: $.01 par value; 20,000,000 shares authorized; no shares issued or outstanding | ' | ' | ||
Common stock: $.01 par value; 1,000,000,000 shares authorized; 397,674,350 and 395,963,218 shares issued; and 394,864,324 and 395,091,213 shares outstanding, respectively | 3,976 | 3,959 | ||
Additional paid-in capital | 5,130,616 | 5,012,124 | ||
Distributions in excess of earnings | -1,081,467 | -1,196,907 | ||
Accumulated other comprehensive loss | -311,220 | -183,347 | ||
Treasury stock (2,810,026 and 872,005 shares at cost, respectively) | -207,740 | -62,728 | ||
Total American Tower Corporation equity | 3,534,165 | 3,573,101 | ||
Noncontrolling interest | 55,875 | 111,080 | ||
Total equity | 3,590,040 | 3,684,181 | ||
TOTAL | $20,272,571 | $14,089,429 | ||
[1] | Consists of highly liquid investments with original maturities in excess of three months. | |||
[2] | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. | |||
[3] | Balances have been revised to reflect purchase accounting measurement period adjustments. | |||
[4] | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. |
CONSOLIDATED_BALANCE_SHEETS_Pa
CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Financial Position [Abstract] | ' | ' |
Preferred stock, par value (in dollars per share) | $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 |
Common stock, par value (in dollars per share) | $0.01 | $0.01 |
Common stock, shares authorized | 1,000,000,000 | 1,000,000,000 |
Common stock, shares issued | 397,674,350 | 395,963,218 |
Common stock, shares outstanding | 394,864,324 | 395,091,213 |
Treasury stock, shares | 2,810,026 | 872,005 |
CONSOLIDATED_STATEMENTS_OF_OPE
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
REVENUES: | ' | ' | ' |
Rental and management | $3,287,090 | $2,803,490 | $2,386,185 |
Network development services | 74,317 | 72,470 | 57,347 |
Total operating revenues | 3,361,407 | 2,875,960 | 2,443,532 |
OPERATING EXPENSES: | ' | ' | ' |
Rental and management (including stock-based compensation expense of $977, $793 and $1,105, respectively) | 828,742 | 686,681 | 590,272 |
Network development services (including stock-based compensation expense of $567, $968 and $1,224, respectively) | 31,131 | 35,798 | 30,684 |
Depreciation, amortization and accretion | 800,145 | 644,276 | 555,517 |
Selling, general, administrative and development expense (including stock-based compensation expense of $66,594, $50,222 and $45,108, respectively) | 415,545 | 327,301 | 288,824 |
Other operating expenses | 71,539 | 62,185 | 58,103 |
Total operating expenses | 2,147,102 | 1,756,241 | 1,523,400 |
OPERATING INCOME | 1,214,305 | 1,119,719 | 920,132 |
OTHER INCOME (EXPENSE): | ' | ' | ' |
Interest income, TV Azteca, net of interest expense of $1,483, $1,485 and $1,474, respectively | 22,235 | 14,258 | 14,214 |
Interest income | 9,706 | 7,680 | 7,378 |
Interest expense | -458,296 | -401,665 | -311,854 |
Loss on retirement of long-term obligations | -38,701 | -398 | 0 |
Other expense (including unrealized foreign currency losses of $211,722, $34,330 and $131,053, respectively) | -207,500 | -38,300 | -122,975 |
Total other expense | -672,556 | -418,425 | -413,237 |
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME ON EQUITY METHOD INVESTMENTS | 541,749 | 701,294 | 506,895 |
Income tax provision | -59,541 | -107,304 | -125,080 |
Income on equity method investments | 0 | 35 | 25 |
NET INCOME | 482,208 | 594,025 | 381,840 |
Net loss attributable to noncontrolling interest | 69,125 | 43,258 | 14,622 |
NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION | $551,333 | $637,283 | $396,462 |
NET INCOME PER COMMON SHARE AMOUNTS: | ' | ' | ' |
BASIC NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION | $1.40 | $1.61 | $1 |
DILUTED NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION | $1.38 | $1.60 | $0.99 |
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING: | ' | ' | ' |
BASIC (in shares) | 395,040 | 394,772 | 395,711 |
DILUTED (in shares) | 399,146 | 399,287 | 400,195 |
CONSOLIDATED_STATEMENTS_OF_OPE1
CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Stock-based compensation expense | $68,138 | $51,983 | $47,437 |
Interest expense, TV Azteca | 1,483 | 1,485 | 1,474 |
Unrealized foreign currency (losses) gains | -211,722 | -34,330 | -131,053 |
Selling General Administrative And Development Expense [Member] | ' | ' | ' |
Stock-based compensation expense | 66,594 | 50,222 | 45,108 |
Network Development Services [Member] | ' | ' | ' |
Stock-based compensation expense | 567 | 968 | 1,224 |
Rental And Management [Member] | ' | ' | ' |
Stock-based compensation expense | $977 | $793 | $1,105 |
CONSOLIDATED_STATEMENTS_OF_COM
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Net income | $482,208 | $594,025 | $381,840 |
Other comprehensive (loss) income: | ' | ' | ' |
Changes in fair value of cash flow hedges, net of taxes of $374, $905 and $1,334, respectively | 1,107 | -5,315 | 1,977 |
Reclassification of unrealized losses on cash flow hedges to net income, net of taxes of $237, $208 and $74, respectively | 2,572 | 1,132 | 225 |
Net unrealized loss on available-for-sale securities, net of taxes of $65 | 0 | 0 | -104 |
Reclassification of unrealized losses on available-for-sale securities to net income | 0 | 495 | 0 |
Foreign currency translation adjustments, net of taxes of $9,207, $7,677 and $1,702, respectively | -135,079 | -58,387 | -187,466 |
Reclassifications due to REIT conversion | 0 | 0 | -1,752 |
Other comprehensive loss | -131,400 | -62,075 | -187,120 |
Comprehensive income | 350,808 | 531,950 | 194,720 |
Comprehensive loss attributable to noncontrolling interest | 72,652 | 64,603 | 21,072 |
Comprehensive income attributable to American Tower Corporation | $423,460 | $596,553 | $215,792 |
CONSOLIDATED_STATEMENTS_OF_COM1
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Statement of Comprehensive Income [Abstract] | ' | ' | ' |
Reclassification of unrealized losses on cash flow hedges to net income, tax | $237 | $208 | $74 |
Other comprehensive income (loss), available-for-sale securities, tax | ' | ' | -65 |
Foreign currency translation adjustments, tax | -9,207 | -7,677 | -1,702 |
Net change in fair value of cash flow hedges, tax | $374 | ($905) | $1,334 |
CONSOLIDATED_STATEMENTS_OF_EQU
CONSOLIDATED STATEMENTS OF EQUITY (USD $) | Total | Common Stock | Treasury Stock | Additional Paid-in Capital | Accumulated Other Comprehensive (Loss) Income | Earnings (Distributions) in Excess of Distributions (Earnings) | Noncontrolling Interest |
In Thousands, except Share data, unless otherwise specified | |||||||
BALANCE at Dec. 31, 2010 | $3,504,558 | $4,860 | ($3,381,966) | $8,577,093 | $38,053 | ($1,736,596) | $3,114 |
BALANCE (shares) at Dec. 31, 2010 | ' | 486,056,952 | -87,379,718 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Stock based compensation related activity (shares) | ' | 3,033,698 | ' | ' | ' | ' | ' |
Stock-based compensation related activity | 128,158 | 30 | ' | 128,128 | ' | ' | ' |
Issuance of common stock-Stock Purchase Plan (shares) | ' | 79,049 | ' | ' | ' | ' | ' |
Issuance of common stock—Stock Purchase Plan | 3,523 | 1 | ' | 3,522 | ' | ' | ' |
Treasury stock activity (shares) | ' | ' | -8,147,902 | ' | ' | ' | ' |
Treasury stock activity | -423,932 | ' | -423,932 | ' | ' | ' | ' |
Net change in fair value of cash flow hedges, net of tax | 1,977 | ' | ' | ' | 1,977 | ' | ' |
Reclassification of unrealized losses on cash flow hedges to net income, net of tax | 225 | ' | ' | ' | 225 | ' | ' |
Reclassification of unrealized losses on available-for-sale securities to net income | 0 | ' | ' | ' | ' | ' | ' |
Net unrealized loss on available-for-sale securities, net of tax | -104 | ' | ' | ' | -104 | ' | ' |
Reclassifications due to REIT conversion | -1,752 | ' | ' | ' | -1,752 | ' | ' |
Foreign currency translation adjustment, net of tax | -187,466 | ' | ' | ' | -181,016 | ' | -6,450 |
Retirement of treasury stock (shares) | ' | -95,527,620 | 95,527,620 | ' | ' | ' | ' |
Retirement of treasury stock | 0 | -955 | 3,805,898 | -3,804,943 | ' | ' | ' |
Contributions from noncontrolling interest | 141,387 | ' | ' | ' | ' | ' | 141,387 |
Distributions to noncontrolling interest | -507 | ' | ' | ' | ' | ' | -507 |
Dividends/distributions declared | -137,765 | ' | ' | ' | ' | -137,765 | ' |
Net income | 381,840 | ' | ' | ' | ' | 396,462 | -14,622 |
BALANCE at Dec. 31, 2011 | 3,410,142 | 3,936 | 0 | 4,903,800 | -142,617 | -1,477,899 | 122,922 |
BALANCE (shares) at Dec. 31, 2011 | ' | 393,642,079 | 0 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Stock based compensation related activity (shares) | ' | 2,233,390 | ' | ' | ' | ' | ' |
Stock-based compensation related activity | 103,820 | 22 | ' | 103,798 | ' | ' | ' |
Issuance of common stock-Stock Purchase Plan (shares) | ' | 87,749 | ' | ' | ' | ' | ' |
Issuance of common stock—Stock Purchase Plan | 4,527 | 1 | ' | 4,526 | ' | ' | ' |
Treasury stock activity (shares) | ' | ' | -872,005 | ' | ' | ' | ' |
Treasury stock activity | -62,728 | ' | -62,728 | ' | ' | ' | ' |
Net change in fair value of cash flow hedges, net of tax | -5,315 | ' | ' | ' | -4,733 | ' | -582 |
Reclassification of unrealized losses on cash flow hedges to net income, net of tax | 1,132 | ' | ' | ' | 998 | ' | 134 |
Reclassification of unrealized losses on available-for-sale securities to net income | 495 | ' | ' | ' | 495 | ' | ' |
Net unrealized loss on available-for-sale securities, net of tax | 0 | ' | ' | ' | ' | ' | ' |
Reclassifications due to REIT conversion | 0 | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustment, net of tax | -58,387 | ' | ' | ' | -37,490 | ' | -20,897 |
Contributions from noncontrolling interest | 53,341 | ' | ' | ' | ' | ' | 53,341 |
Distributions to noncontrolling interest | -580 | ' | ' | ' | ' | ' | -580 |
Dividends/distributions declared | -356,291 | ' | ' | ' | ' | -356,291 | ' |
Net income | 594,025 | ' | ' | ' | ' | 637,283 | -43,258 |
BALANCE at Dec. 31, 2012 | 3,684,181 | 3,959 | -62,728 | 5,012,124 | -183,347 | -1,196,907 | 111,080 |
BALANCE (shares) at Dec. 31, 2012 | 395,091,213 | 395,963,218 | -872,005 | ' | ' | ' | ' |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ' | ' | ' | ' | ' | ' | ' |
Stock based compensation related activity (shares) | ' | 1,633,380 | ' | ' | ' | ' | ' |
Stock-based compensation related activity | 113,582 | 16 | ' | 113,566 | ' | ' | ' |
Issuance of common stock-Stock Purchase Plan (shares) | ' | 77,752 | ' | ' | ' | ' | ' |
Issuance of common stock—Stock Purchase Plan | 4,927 | 1 | ' | 4,926 | ' | ' | ' |
Treasury stock activity (shares) | -1,938,021 | ' | -1,938,021 | ' | ' | ' | ' |
Treasury stock activity | -145,012 | ' | -145,012 | ' | ' | ' | ' |
Net change in fair value of cash flow hedges, net of tax | 1,107 | ' | ' | ' | 867 | ' | 240 |
Reclassification of unrealized losses on cash flow hedges to net income, net of tax | 2,572 | ' | ' | ' | 2,420 | ' | 152 |
Reclassification of unrealized losses on available-for-sale securities to net income | 0 | ' | ' | ' | ' | ' | ' |
Net unrealized loss on available-for-sale securities, net of tax | 0 | ' | ' | ' | ' | ' | ' |
Reclassifications due to REIT conversion | 0 | ' | ' | ' | ' | ' | ' |
Foreign currency translation adjustment, net of tax | -135,079 | ' | ' | ' | -131,160 | ' | -3,919 |
Contributions from noncontrolling interest | 18,020 | ' | ' | ' | ' | ' | 18,020 |
Distributions to noncontrolling interest | -573 | ' | ' | ' | ' | ' | -573 |
Dividends/distributions declared | -435,893 | ' | ' | ' | ' | -435,893 | ' |
Net income | 482,208 | ' | ' | ' | ' | 551,333 | -69,125 |
BALANCE at Dec. 31, 2013 | $3,590,040 | $3,976 | ($207,740) | $5,130,616 | ($311,220) | ($1,081,467) | $55,875 |
BALANCE (shares) at Dec. 31, 2013 | 394,864,324 | 397,674,350 | -2,810,026 | ' | ' | ' | ' |
CONSOLIDATED_STATEMENTS_OF_CAS
CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
CASH FLOWS FROM OPERATING ACTIVITIES: | ' | ' | ' |
Net income | $482,208 | $594,025 | $381,840 |
Adjustments to reconcile net income to cash provided by operating activities: | ' | ' | ' |
Depreciation, amortization and accretion | 800,145 | 644,276 | 555,517 |
Stock-based compensation expense | 68,138 | 51,983 | 47,437 |
(Increase) decrease in restricted cash | -52,717 | -26,500 | 11,867 |
Loss on investments, unrealized foreign currency loss and other non-cash expense | 222,390 | 60,002 | 149,191 |
Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses | 32,672 | 34,280 | 17,412 |
Loss on early retirement of securitized debt | 35,288 | 0 | 0 |
Amortization of deferred financing costs, debt discounts and other non-cash interest | 7,596 | 11,090 | 13,092 |
Provision for losses on accounts receivable | -1,410 | -4,155 | 7,101 |
Deferred income taxes | -29,485 | 29,300 | 56,852 |
Changes in assets and liabilities, net of acquisitions: | ' | ' | ' |
Accounts receivable | -19,080 | -43,679 | -28,857 |
Prepaid and other assets | -96,038 | 84,640 | -43,659 |
Deferred rent asset | -145,689 | -164,219 | -143,994 |
Accounts payable and accrued expenses | 83,746 | 21,880 | 84,699 |
Accrued interest | 51,076 | 25,031 | 23,360 |
Unearned revenue | 108,487 | 68,015 | -6,351 |
Deferred rent liability | 30,246 | 33,707 | 30,952 |
Other non-current liabilities | 21,474 | -5,285 | 9,483 |
Cash provided by operating activities | 1,599,047 | 1,414,391 | 1,165,942 |
CASH FLOWS FROM INVESTING ACTIVITIES | ' | ' | ' |
Payments for purchases of property and equipment and construction activities | -724,532 | -568,048 | -523,015 |
Payments for acquisitions, net of cash acquired | -4,461,764 | -1,997,955 | -2,320,673 |
Proceeds from sales of short-term investments, available-for-sale securities and other long-term assets | 421,714 | 374,682 | 69,971 |
Payments for short-term investments | -427,267 | -352,306 | -42,590 |
Deposits, restricted cash, investments and other | 18,512 | -14,758 | 25,495 |
Cash used in investing activities | -5,173,337 | -2,558,385 | -2,790,812 |
CASH FLOWS FROM FINANCING ACTIVITIES | ' | ' | ' |
Proceeds from (repayments of) short-term borrowings, net | 8,191 | -55,264 | 128,121 |
Borrowings under credit facilities | 3,507,000 | 2,582,000 | 1,005,014 |
Proceeds from issuance of senior notes, net | 2,221,792 | 698,670 | 499,290 |
Proceeds from term loan credit facility | 1,500,000 | 750,000 | 0 |
Proceeds from other long-term borrowings | 402,688 | 177,299 | 212,783 |
Proceeds from issuance of Securities in Securitization transaction, net | 1,778,496 | 0 | 0 |
Repayments of notes payable, credit facilities and capital leases | -5,337,339 | -2,658,566 | -395,384 |
Contributions from noncontrolling interest holders, net | 17,447 | 52,761 | 140,880 |
Purchases of common stock | -145,012 | -62,728 | -437,402 |
Proceeds from stock options and Stock Purchase Plan | 45,496 | 55,441 | 85,642 |
Distributions | -434,687 | -355,574 | -137,765 |
Payment for early retirement of securitized debt | -29,234 | 0 | 0 |
Deferred financing costs and other financing activities | -9,273 | -13,673 | -15,084 |
Cash provided by financing activities | 3,525,565 | 1,170,366 | 1,086,095 |
Net effect of changes in foreign currency exchange rates on cash and cash equivalents | -26,317 | 12,055 | -14,997 |
NET (DECREASE) INCREASE IN CASH AND CASH EQUIVALENTS | -75,042 | 38,427 | -553,772 |
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR | 368,618 | 330,191 | 883,963 |
CASH AND CASH EQUIVALENTS, END OF YEAR | $293,576 | $368,618 | $330,191 |
Business_and_Summary_of_Signif
Business and Summary of Significant Accounting Policies | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||
Business and Summary of Significant Accounting Policies | ' | |||||||||||
BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ||||||||||||
Business—American Tower Corporation is, through its various subsidiaries (collectively, “ATC” or the “Company”), an independent owner, operator and developer of wireless and broadcast communications real estate in the United States, Brazil, Chile, Colombia, Costa Rica, Germany, Ghana, India, Mexico, Panama, Peru, South Africa and Uganda. The Company’s primary business is the leasing of antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities and tenants in a number of other industries. The Company also manages rooftop and tower sites for property owners, operates in-building and outdoor distributed antenna system (“DAS”) networks, holds property interests under third-party communications sites and provides network development services that primarily support its rental and management operations and the addition of new tenants and equipment on its sites. Since January 1, 2012, the Company has been organized and has qualified as a real estate investment trust (“REIT”) for U.S. federal income tax purposes. | ||||||||||||
ATC is a holding company that conducts its operations through its directly and indirectly owned subsidiaries and its joint ventures. ATC’s principal domestic operating subsidiaries are American Towers LLC and SpectraSite Communications, LLC. ATC conducts its international operations through its subsidiary, American Tower International, Inc., which in turn conducts operations through its various international holding and operating subsidiaries and joint ventures. | ||||||||||||
In May 2011, the Company announced its intention to reorganize to qualify as a REIT for federal income tax purposes. Effective December 31, 2011, the Company completed the merger with its predecessor (“American Tower”) that was approved by American Tower’s stockholders in November 2011. At the time of the merger all outstanding shares of Class A common stock of American Tower were converted into a right to receive an equal number of shares of common stock of the surviving corporation. In addition, each share of Class A common stock of American Tower held in treasury at December 31, 2011 ceased to be outstanding, and a corresponding adjustment was recorded to additional paid in capital and common stock. | ||||||||||||
The Company holds and operates certain of its assets through one or more taxable REIT subsidiaries (“TRSs”). A TRS is a subsidiary of a REIT that is subject to applicable corporate income tax. The Company’s use of TRSs enables it to continue to engage in certain businesses while complying with REIT qualification requirements and also allows the Company to retain income generated by these businesses for reinvestment without the requirement of distributing those earnings. The non-REIT qualified businesses that the Company holds through TRSs include most of its network development services segment. In addition, the Company has included most of its international operations and managed networks business within its TRSs. | ||||||||||||
As a REIT, the Company generally will not be subject to federal income taxes on its income and gains that the Company distributes to its stockholders, including the income derived from leasing space on its towers. However, even as a REIT, the Company will remain obligated to pay income taxes on earnings from its TRS operations. In addition, the Company’s international assets and operations, including those designated as qualified REIT subsidiaries or other disregarded entities (collectively, “QRSs”), continue to be subject to taxation in the foreign jurisdictions where those assets are held or those operations are conducted. | ||||||||||||
The Company may, from time to time, change the election of previously designated TRSs that hold certain of its operations to be treated as QRSs, and may reorganize and transfer certain assets or operations from its TRSs to other subsidiaries, including QRSs. The Company changed the previous TRS election for certain of its Mexican subsidiaries to be treated as QRSs as of March 1, 2013. In addition, the Company restructured certain of its domestic TRSs to be treated as QRSs as of January 1, 2014. | ||||||||||||
Principles of Consolidation and Basis of Presentation—The accompanying consolidated financial statements include the accounts of the Company and those entities in which it has a controlling interest. Investments in entities that the Company does not control are accounted for using the equity or cost method, depending upon the Company’s ability to exercise significant influence over operating and financial policies. All intercompany accounts and transactions have been eliminated. | ||||||||||||
Significant Accounting Policies and Use of Estimates—The 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 consolidated 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, rent expense, stock-based compensation, income taxes and accounting for business combinations. 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. | ||||||||||||
Changes in Presentation—Changes have been made to the presentation of certain footnotes as of December 31, 2012 to conform to the current year presentation. | ||||||||||||
Concentrations of Credit Risk—The Company is subject to concentrations of credit risk related to its cash and cash equivalents, notes receivable, accounts receivable, deferred rent asset and derivative financial instruments. The Company mitigates its risk with respect to cash and cash equivalents and derivative financial 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, corresponding accounts receivable and the related deferred rent asset from a relatively small number of tenants in the telecommunications industry, and approximately 55% of its current year revenues are derived from four tenants. In addition, the Company has concentrations of credit risk in certain geographic areas. | ||||||||||||
The Company mitigates its concentrations of credit risk with respect to notes and trade receivables and the related deferred rent assets by actively monitoring the credit worthiness of its borrowers and tenants. In recognizing customer revenue, the Company must assess the collectibility of both the amounts billed and the portion recognized in advance of billing on a straight-line basis. This assessment takes tenant credit risk and business and industry conditions into consideration to ultimately determine the collectibility of the amounts billed. To the extent the amounts, based on management’s estimates, may not be collectible, recognition is deferred until such point as collectibility is determined to be reasonably assured. Any amounts that were previously recognized as revenue and subsequently determined to be uncollectible are charged to bad debt expense included in Selling, general, administrative and development expense in the accompanying consolidated statements of operations. | ||||||||||||
Accounts receivable is reported net of allowances for doubtful accounts related to estimated losses resulting from a tenant’s inability to make required payments and allowances for amounts invoiced whose collectibility is not reasonably assured. These allowances are generally estimated based on payment patterns, days past due and collection history, and incorporate changes in economic conditions that may not be reflected in historical trends, such as tenants in bankruptcy, liquidation or reorganization. Receivables are written-off against the allowances when they are determined to be uncollectible. Such determination includes analysis and consideration of the particular conditions of the account. Changes in the allowances were as follows for the years ended December 31, (in thousands): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Balance as of January 1 | $ | 20,406 | $ | 24,412 | $ | 22,505 | ||||||
Current year increases | 7,025 | 8,028 | 17,008 | |||||||||
Write-offs, net of recoveries and other | (7,536 | ) | (12,034 | ) | (15,101 | ) | ||||||
Balance as of December 31 | $ | 19,895 | $ | 20,406 | $ | 24,412 | ||||||
Functional Currency—The functional currency of the Company’s foreign operating subsidiaries is the respective local currency, except for Costa Rica and Panama, where the functional currency is the U.S. Dollar. All foreign currency assets and liabilities held by the subsidiaries are translated into U.S. Dollars at the exchange rate in effect at the end of the applicable fiscal reporting period. All foreign currency revenues and expenses are translated at the average monthly exchange rates. The cumulative translation effect is included in equity as a component of Accumulated other comprehensive income (loss). Foreign currency transaction gains and losses are recognized in the consolidated statements of operations and are the result of transactions of a subsidiary being denominated in a currency other than its functional currency. In addition, intercompany notes with balances denominated in a currency other than the subsidiary’s functional currency, with the exception of those whose payment is not planned or anticipated in the foreseeable future, are subject to remeasurement based on the exchange rate in effect at the end of the reporting period. The effect of this remeasurement is recorded as an unrealized gain or loss prior to repayment and is reflected in Other expense (income) in the consolidated statements of operations. | ||||||||||||
Cash and Cash Equivalents—Cash and cash equivalents include cash on hand, demand deposits and short-term investments, including money market funds, with remaining maturities of three months or less when acquired, whose cost approximates fair value. | ||||||||||||
Restricted Cash—The Company classifies as restricted cash all cash pledged as collateral to secure obligations and all cash whose use is otherwise limited by contractual provisions, including cash on deposit in reserve accounts relating to the Secured Tower Revenue Securities, Series 2013-1A and Series 2013-2A issued in the Company’s securitization transaction (the “Securities”), the Secured Cellular Site Revenue Notes, Series 2010-1 Class C, Series 2010-2 Class C and Series 2010-2 Class F (collectively, the “Unison Notes”), assumed by the Company as a result of the acquisition of certain legal entities from Unison Holdings, LLC and Unison Site Management II, L.L.C. (collectively, “Unison”), and six series, consisting of eleven separate classes, of Secured Tower Revenue Notes (collectively, the “GTP Notes”) assumed by the Company as a result of the Company’s acquisition of MIP Tower Holdings LLC (see note 6). | ||||||||||||
Short-Term Investments—Short-term investments include highly-liquid investments with original maturities in excess of three months when acquired. | ||||||||||||
Property and Equipment—Property and equipment is recorded at cost or, in the case of acquired properties, at estimated fair value on the date acquired. Cost for self-constructed towers includes direct materials and labor, capitalized interest and certain indirect costs associated with construction of the tower, such as transportation costs, employee benefits and payroll taxes. The Company begins the capitalization of costs during the pre-construction period, which is the period during which costs are incurred to evaluate the site, and continues to capitalize costs until the tower is substantially completed and ready for occupancy by a tenant. Labor costs capitalized for the years ended December 31, 2013, 2012 and 2011 were $44.1 million, $41.6 million and $35.6 million, respectively. Interest costs capitalized for the years ended December 31, 2013, 2012 and 2011 were $1.8 million, $1.9 million and $2.1 million, respectively. | ||||||||||||
Expenditures for repairs and maintenance are expensed as incurred. Augmentation and improvements that extend an asset’s useful life or enhance capacity are capitalized. | ||||||||||||
Depreciation is recorded using the straight-line method over the assets’ estimated useful lives. Towers and related 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, taking into consideration lease renewal options and residual value. | ||||||||||||
Towers or assets acquired through capital leases are reflected in Property and equipment, net at the present value of future minimum lease payments or the fair value of the leased asset at the inception of the lease. Property and equipment, network location intangibles and assets held under capital leases are amortized over the shorter of the applicable lease term or the estimated useful life of the respective assets for periods generally not exceeding twenty years. | ||||||||||||
Goodwill and Other Intangible Assets—The Company reviews goodwill for impairment at least annually (as of December 31) or whenever events or circumstances indicate the carrying value of an asset may not be recoverable. | ||||||||||||
The Company’s goodwill is recorded in its domestic and international rental and management segments and network development services segment. The Company utilizes the two-step impairment test when testing goodwill for impairment and employs a discounted cash flow analysis. | ||||||||||||
The key assumptions utilized in the discounted cash flow analysis include current operating performance, terminal sales growth rate, management’s expectations of future operating results and cash requirements, the current weighted average cost of capital, and an expected tax rate. Under the first step of this test, the Company compares the fair value of the reporting unit, as calculated under an income approach using future discounted cash flows, to the carrying value of the applicable reporting unit. If the carrying value exceeds the fair value, the Company conducts the second step of this test, in which the implied fair value of the applicable reporting unit’s goodwill is compared to the carrying amount of that goodwill. If the carrying amount of goodwill exceeds its implied fair value, an impairment loss would be recognized for the amount of the excess. | ||||||||||||
During the years ended December 31, 2013, 2012 and 2011, no potential impairment was identified under the first step of the test as the fair value of each of the reporting units was in excess of its carrying value. | ||||||||||||
Intangible assets that are separable from goodwill and are deemed to have a definite life are amortized over their useful lives, generally ranging from three to twenty years and are evaluated separately for impairment at least annually or whenever events or circumstances indicate that the carrying value of an asset may not be recoverable. | ||||||||||||
Deferred Rent Asset—The Company’s deferred rent asset is associated with non-cancellable tenant leases that contain fixed escalation clauses over the terms of the applicable lease in which revenue is recognized on a straight-line basis over the lease term. | ||||||||||||
Notes Receivable and Other Non-Current Assets—Notes receivable and other non-current assets primarily consists of prepaid ground lease assets, value added tax receivable, notes receivable from TV Azteca, long-term deposits, favorable leasehold interests and other non-current assets. | ||||||||||||
Derivative Financial Instruments—Derivatives are recorded on the consolidated balance sheet at fair value. If a derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in Accumulated other comprehensive income (loss) and are recognized in the results of operations when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges are recognized in the results of operations. For derivative instruments not designated as hedging instruments, changes in fair value are recognized in the results of operations in the period that the change occurs. | ||||||||||||
The primary risk managed through the use of derivative instruments is interest rate risk. From time to time, the Company enters into interest rate swap 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. Under these agreements, the Company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract. The Company’s credit risk exposure is limited to the current value of the contract at the time the counterparty fails to perform. The Company may also enter into forward starting interest rate swap agreements and treasury lock agreements, which the Company designates as cash flow hedges, to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the likely issuance of new fixed rate debt. Settlement gains and losses on terminations of these forward starting interest rate swap agreements are recorded in other comprehensive income (loss) and amortized to interest expense over the term of the newly issued debt. | ||||||||||||
The Company assesses, both at the inception of the hedge and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. The Company does not hold derivatives for trading purposes. | ||||||||||||
The Company may also enter into foreign currency financial instruments in anticipation of future transactions in order to minimize the risk of currency fluctuations. These transactions do not typically qualify for hedge accounting, and as a result, the associated gains and losses are recognized in Other income (expense) in the consolidated statements of operations. | ||||||||||||
Fair Value Measurements—The Company determines the fair value of its financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. | ||||||||||||
Discount and Premium on Notes—The Company amortizes the discounts and premiums on its notes using the effective interest method over the term of the obligation. Such amortization is reflected in Interest expense and Interest income, TV Azteca, net in the accompanying consolidated statements of operations. | ||||||||||||
Asset Retirement Obligations—The Company has certain obligations related to tower assets, which are principally obligations to remediate leased land on which certain of the Company’s tower assets are located, that require the recognition of an asset retirement obligation. The fair value of asset retirement obligations associated with an entity’s obligation to retire tangible long-lived assets is recognized in the period in which it is incurred and can be reasonably estimated. Such asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset’s estimated useful life. Fair value estimates of asset retirement obligations generally involve discounting of estimated future cash flows. Periodic accretion of such liabilities due to the passage of time is included in Depreciation, amortization and accretion in the consolidated statements of operations. Adjustments are also made to the asset retirement obligation liability to reflect changes in the estimates of timing and amount of expected cash flows, with an offsetting adjustment made to the related tangible long-lived asset. | ||||||||||||
The significant assumptions used in estimating the Company’s aggregate asset retirement obligation are: timing of tower removals; cost of tower removals; timing and number of land lease renewals; expected inflation rates; and credit-adjusted, risk-free interest rates that approximate the Company’s incremental borrowing rate. | ||||||||||||
Income Taxes—As a REIT, the Company is generally not subject to federal income taxes on income and gains distributed to the Company’s stockholders. However, the Company remains obligated to pay income taxes on earnings from domestic TRSs. In addition, the Company’s international assets and operations continue to be subject to taxation in the foreign jurisdictions where those assets are held or where those operations are conducted, including those designated as QRSs for federal income tax purposes. Accordingly, the consolidated financial statements reflect provisions for federal, state, local and foreign income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as operating loss and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities as a result of a change in tax rates is recognized in income in the period that includes the enactment date. | ||||||||||||
The Company provides valuation allowances if, based on the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized within a reasonable period of time. The Company also periodically reviews its valuation allowances on deferred tax assets to reduce the deferred tax asset to the amount that management believes is more likely than not to be realized. | ||||||||||||
The Company classifies uncertain tax positions as non-current income tax liabilities unless expected to be paid within one year. The Company reports penalties and tax-related interest expense as a component of the income tax provision and interest income from tax refunds as a component of Other income in the consolidated statements of operations. | ||||||||||||
Other Comprehensive Income (Loss)—Other comprehensive income (loss) refers to revenues, expenses, gains and losses that are included in other comprehensive income (loss), but excluded from net income, as these amounts are recorded directly as an adjustment to equity, net of tax. The Company’s other comprehensive income (loss) is primarily comprised of changes in fair value of effective derivative cash flow hedges, unrealized losses in available-for-sale securities, foreign currency translation adjustments and reclassification of unrealized losses on effective derivative cash flow hedges and available-for-sale securities. | ||||||||||||
Treasury Stock—The Company records treasury stock purchases using the cost method, whereby the purchase price, including legal costs and commissions, is recorded in a contra equity account, Treasury stock. The equity accounts from which the shares were originally issued are not adjusted for any treasury stock purchases unless and until such time as the shares are formally retired or reissued. As part of the Company’s conversion to a REIT, all treasury stock outstanding at the time was retired. | ||||||||||||
Distributions—During the year ended December 31, 2011, the Company paid a one-time special cash distribution to its stockholders of approximately $137.8 million, or $0.35 per share, of earnings and profits accumulated during the years it was taxed as a C corporation, in anticipation of commencing to operate as a REIT effective January 1, 2012. As a REIT, the Company must annually distribute to its stockholders an amount equal to at least 90% of its REIT taxable income (determined before the deduction for distributed earnings and excluding any net capital gain). During the years ended December 31, 2013 and 2012, the Company declared and paid distributions of its REIT taxable income of an aggregate of $434.5 million or $1.10 per share and $355.6 million, or $0.90 per share, respectively. The amount, timing and frequency of future distributions will be at the sole discretion of the Board of Directors and will be declared based upon various factors, a number of which may be beyond the Company’s control, including the financial condition and operating cash flows, the amount required to maintain REIT status and reduce any income and excise taxes that the Company otherwise would be required to pay, limitations on distributions in our existing and future debt instruments, the Company’s ability to utilize net operating losses (“NOLs”) to offset, in whole or in part, the Company’s distribution requirements, limitations on its ability to fund distributions using cash generated through its TRSs and other factors that the Board of Directors may deem relevant. | ||||||||||||
Acquisitions—For transactions that meet the definition of a business combination, the Company allocates the purchase price, including any contingent consideration, to the assets acquired and the liabilities assumed at their estimated fair values as of the date of the acquisition with any excess of the purchase price paid over the estimated fair value of net assets acquired recorded as goodwill. For transactions that do not meet the definition of a business combination, the Company first allocates the purchase price to property and equipment for the fair value of the towers and to identifiable intangible assets (primarily acquired customer-related and network location intangibles). The fair value of the assets acquired and liabilities assumed is typically determined by using either estimates of replacement costs or discounted cash flow valuation methods. When determining the fair value of tangible assets acquired, the Company must estimate the cost to replace the asset with a new asset, adjusted for an estimated reduction in fair value due to depreciation, and the economic useful life. When determining the fair value of intangible assets acquired, the Company must estimate the applicable discount rate and the timing and amount of future cash flows. The determination of the final purchase price and the acquisition-date fair value of identifiable assets acquired and liabilities assumed may extend over more than one period and result in adjustments to the preliminary estimate recognized in the prior period financial statements. | ||||||||||||
Revenue Recognition—Rental and management revenues are recognized on a monthly basis under lease or management agreements when earned and when collectibility is reasonably assured. Fixed escalation clauses present in non-cancellable lease agreements, excluding those tied to the Consumer Price Index (“CPI”) or other inflation-based indices, and other incentives present in lease agreements with the Company’s tenants are recognized on a straight-line basis over the fixed, non-cancellable terms of the applicable leases and included in the Deferred rent asset on the accompanying consolidated balance sheets. Total rental and management straight-line revenues for the years ended December 31, 2013, 2012 and 2011 approximated $147.7 million, $165.8 million and $144.0 million, respectively. Amounts billed upfront in connection with the execution of lease agreements are initially deferred and recognized as revenue over the initial terms of the applicable leases. Amounts billed or received prior to being earned are deferred and reflected in Unearned revenue in the accompanying consolidated balance sheets until the criteria for recognition have been met. | ||||||||||||
Network development services revenues are derived under contracts or arrangements with customers that provide for billings either on a fixed price basis or a variable price basis, which includes factors such as time and expenses. Revenues are recognized as services are performed. Amounts billed or received for services prior to being earned are deferred and reflected in Unearned revenue in the accompanying consolidated balance sheets until the criteria for recognition have been met. | ||||||||||||
Rent Expense—Many of the leases underlying the Company’s tower sites have fixed rent escalations, which provide for periodic increases in the amount of ground rent payable by the Company over time. The Company calculates straight-line ground rent expense for these leases based on the fixed non-cancellable term of the underlying ground lease plus all periods, if any, for which failure to renew the lease imposes an economic penalty to the Company such that renewal appears to be reasonably assured. Certain of the Company’s tenant leases require the Company to exercise available renewal options pursuant to the underlying ground lease if the tenant exercises its renewal option. For towers with these types of tenant leases at the inception of the ground lease, the Company calculates its straight-line ground rent over the term of the ground lease, including all renewal options required to fulfill the tenant lease obligation. | ||||||||||||
Total rental and management straight-line ground rent expense for the years ended December 31, 2013, 2012 and 2011 approximated $29.7 million, $33.7 million and $31.0 million, respectively. In addition to the straight-line ground rent expense recorded by the Company, the Company also records its straight-line rent liability in Other non-current liabilities and records prepaid ground rent in Prepaid and other current assets and Notes receivable and other non-current assets in the accompanying consolidated balance sheets. | ||||||||||||
Selling, General, Administrative and Development Expense—Selling, general and administrative expense consists of overhead expenses related to the Company’s rental and management and services operations and corporate overhead costs not specifically allocable to any of the Company’s individual business operations. Development expense consists of costs related to the Company’s acquisition efforts, costs associated with new business initiatives and abandoned site and acquisition costs. | ||||||||||||
Stock-Based Compensation—Stock-based compensation cost is measured at the accounting measurement date based on the fair value of the award and is recognized as an expense over the service period, which generally represents the vesting period. Effective January 1, 2013, the Company’s Compensation Committee adopted a death, disability and retirement benefits program in connection with equity awards granted on or after January 1, 2013 that provides for accelerated vesting and extended exercise periods of stock options and restricted stock units upon an employee’s death or permanent disability, or upon an employee’s qualified retirement, provided certain eligibility criteria are met. Accordingly, for grants made on or after January 1, 2013, the Company recognizes compensation expense for all stock-based compensation over the shorter of (i) the four-year vesting period or (ii) the period from the date of grant to the date the employee becomes eligible for such retirement benefits, which may occur upon grant. The expense recognized over the service period includes an estimate of awards that will not fully vest and be forfeited. The Company calculates the fair value of stock options using the Black-Scholes option-pricing model and the fair value of restricted stock units based on the fair value of the units at the grant date. The Company’s stock-based compensation expense is recognized in either Selling, general, administrative and development expense, costs of operations or capitalized as part of the Company’s cost to construct tower assets. | ||||||||||||
Litigation Costs—The Company periodically becomes involved in various claims and lawsuits that are incidental to its business. The Company regularly monitors the status of pending legal actions to evaluate both the magnitude and likelihood of any potential loss. The Company accrues for these potential losses when it is probable that a liability has been incurred and the amount of loss, or possible range of loss, can be reasonably estimated. Should the ultimate losses on contingencies or litigation vary from estimates, adjustments to those liabilities may be required. The Company also incurs legal costs in connection with these matters and records estimates of these expenses, which are reflected in Selling, general, administrative and development expense in the accompanying consolidated statements of operations. | ||||||||||||
Other Operating Expenses—Other operating expenses includes the costs incurred by the Company in conjunction with acquisitions and mergers (including changes in estimated fair value of contingent consideration), impairments on long-lived assets and gains and losses recognized upon the disposal of long-lived assets and other discrete items of a non-recurring nature. | ||||||||||||
The Company reviews long-lived assets, including intangible assets subject to amortization, for impairment whenever events, changes in circumstances or other evidence indicate that the carrying amount of the Company’s assets may not be recoverable. | ||||||||||||
The Company reviews its tower portfolio and network location intangible assets for indications of impairment on an individual tower basis. Impairments primarily result from a tower not having current tenant leases or from having expenses in excess of revenues. The Company monitors its customer-related intangible assets on a customer by customer basis for indicators of impairment, such as high levels of turnover or attrition, non-renewal of a significant number of contracts, or the cancellation or termination of a relationship. The Company assesses recoverability by determining whether the carrying value of the related assets will be recovered, either through projected undiscounted future cash flows or anticipated proceeds from sales of the assets. If the Company determines that the carrying value of an asset may not be recoverable, the Company will measure any impairment loss based on the projected future discounted cash flows to be provided from the asset or available market information relative to the asset’s fair value, as compared to the asset’s carrying value. The Company records any related impairment charge in the period in which the Company identifies such impairment. | ||||||||||||
Loss on Retirement of Long-Term Obligations—Loss on retirement of long-term obligations primarily includes cash paid to retire debt in excess of its carrying value and non-cash charges related to the write-off of deferred financing fees. | ||||||||||||
Earnings Per Common Share—Basic and Diluted—Basic income from continuing operations per common share represents income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period. Diluted income from continuing operations per common share represents income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents, including unvested restricted stock and shares issuable upon exercise of stock options as determined under the treasury stock method. Dilutive common share equivalents also include the dilutive impact of the Verizon transaction (see note 19). | ||||||||||||
Retirement Plan—The Company has a 401(k) plan covering substantially all employees who meet certain age and employment requirements. For the year ended December 31, 2013, the Company matched 75% of the first 6% of a participant’s contributions. The Company’s matching contribution for the years ended December 31, 2012 and 2011 was 50% of the first 6% of a participant’s contributions. For the years ended December 31, 2013, 2012 and 2011, the Company contributed approximately $6.0 million, $4.4 million and $2.9 million to the plan, respectively. | ||||||||||||
Recently Adopted Accounting Standards—In February 2013, the Financial Accounting Standards Board (the “FASB”) issued additional guidance on comprehensive income which adds new disclosure requirements for items reclassified out of accumulated other comprehensive income (“AOCI”) by component. This guidance enhances the transparency of changes in other comprehensive income (“OCI”) and items transferred out of AOCI in the financial statements and it does not amend any existing requirements for reporting net income or OCI in the financial statements. Since the guidance relates only to presentation and disclosure of information, the adoption did not have a material effect on the Company’s financial statements. | ||||||||||||
In February 2013, the FASB issued guidance that clarifies the scope of transactions subject to disclosures about offsetting assets and liabilities. The guidance requires an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. This guidance is effective for annual and interim reporting periods beginning on or after January 1, 2013 on a retrospective basis. Since the guidance relates only to presentation and disclosure of information, the adoption did not have a material effect on the Company’s financial statements. | ||||||||||||
In July 2013, the FASB issued guidance that requires an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with certain exceptions. The amendment is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, with early adoption permitted. The adoption of this guidance did not have a material effect on the Company’s financial statements. |
Prepaid_and_Other_Current_Asse
Prepaid and Other Current Assets | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Prepaid Expense and Other Current Assets [Abstract] | ' | |||||||
Prepaid and Other Current Assets | ' | |||||||
PREPAID AND OTHER CURRENT ASSETS | ||||||||
Prepaid and other current assets consists of the following as of December 31, (in thousands): | ||||||||
2013 | 2012 (1) | |||||||
Prepaid operating ground leases | $ | 82,950 | $ | 56,916 | ||||
Value added tax and other consumption tax receivables | 78,262 | 22,443 | ||||||
Prepaid income tax | 52,612 | 57,665 | ||||||
Prepaid assets | 34,243 | 19,037 | ||||||
Unbilled receivables | 25,412 | 32,588 | ||||||
Other miscellaneous current assets | 40,588 | 34,350 | ||||||
Balance as of December 31, | $ | 314,067 | $ | 222,999 | ||||
(1) December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. |
Property_and_Equipment
Property and Equipment | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||
Property and Equipment | ' | |||||||||
PROPERTY AND EQUIPMENT | ||||||||||
Property and equipment (including assets held under capital leases) consists of the following as of December 31, (in thousands): | ||||||||||
Estimated | 2013 | 2012 (2) | ||||||||
Useful Lives (years) (1) | ||||||||||
Towers | Up to 20 | $ | 7,936,622 | $ | 6,886,611 | |||||
Equipment | 15-Mar | 767,738 | 562,403 | |||||||
Buildings and improvements | Mar-32 | 660,885 | 423,639 | |||||||
Land and improvements (3) | Up to 20 | 1,392,414 | 1,023,175 | |||||||
Construction-in-progress | 171,244 | 151,289 | ||||||||
Total | 10,928,903 | 9,047,117 | ||||||||
Less accumulated depreciation and amortization | (3,666,728 | ) | (3,281,261 | ) | ||||||
Property and equipment, net | $ | 7,262,175 | $ | 5,765,856 | ||||||
(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 taking into | ||||||||||
consideration lease renewal options and residual value. | ||||||||||
(2) December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. | ||||||||||
(3) Estimated useful lives apply to land improvements only. | ||||||||||
Depreciation expense for the years ended December 31, 2013, 2012 and 2011 was $483.6 million, $411.9 million and $353.4 million, respectively. Property and equipment, net includes approximately $839.0 million and $868.3 million of capital leases, which are primarily classified as either towers or land and improvements as of December 31, 2013 and 2012, respectively. |
Goodwill_and_Other_Intangible_
Goodwill and Other Intangible Assets | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Goodwill and Other Intangible Assets | ' | ||||||||||||||||||||||||||
GOODWILL AND OTHER INTANGIBLE ASSETS | |||||||||||||||||||||||||||
The changes in the carrying value of goodwill for the Company’s business segments are as follows (in thousands): | |||||||||||||||||||||||||||
Rental and Management | Network | Total | |||||||||||||||||||||||||
Development | |||||||||||||||||||||||||||
Domestic | International | Services | |||||||||||||||||||||||||
Balance as of January 1, 2013 (1) | $ | 2,320,571 | $ | 520,072 | $ | 2,000 | $ | 2,842,643 | |||||||||||||||||||
Additions (2) | 812,091 | 127,585 | — | 939,676 | |||||||||||||||||||||||
Effect of foreign currency translation | — | (52,418 | ) | — | (52,418 | ) | |||||||||||||||||||||
Balance as of December 31, 2013 | $ | 3,132,662 | $ | 595,239 | $ | 2,000 | $ | 3,729,901 | |||||||||||||||||||
(1) Balances have been revised to reflect purchase accounting measurement period adjustments. | |||||||||||||||||||||||||||
-2 | Domestic and international rental and management segments include approximately $807.7 million and $67.3 million, respectively, of goodwill related to the Company’s acquisition of MIP Tower Holdings LLC (see note 6). | ||||||||||||||||||||||||||
The Company’s other intangible assets subject to amortization consist of the following: | |||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 (1) | ||||||||||||||||||||||||||
Estimated Useful | Gross | Accumulated | Net Book | Gross | Accumulated | Net Book | |||||||||||||||||||||
Lives | Carrying | Amortization | Value | Carrying | Amortization | Value | |||||||||||||||||||||
Value | Value | ||||||||||||||||||||||||||
(years) | (in thousands) | ||||||||||||||||||||||||||
Acquired network location (2) | Up to 20 | $ | 2,365,474 | $ | (791,359 | ) | $ | 1,574,115 | $ | 1,703,047 | $ | (721,135 | ) | $ | 981,912 | ||||||||||||
Acquired customer-related intangibles | 15-20 | 6,201,868 | (1,170,239 | ) | 5,031,629 | 3,133,603 | (979,264 | ) | 2,154,339 | ||||||||||||||||||
Acquired licenses and other intangibles | 20-Mar | 6,583 | (2,297 | ) | 4,286 | 26,079 | (20,835 | ) | 5,244 | ||||||||||||||||||
Economic Rights, TV Azteca | 70 | 28,783 | (14,229 | ) | 14,554 | 28,954 | (13,902 | ) | 15,052 | ||||||||||||||||||
Total | $ | 8,602,708 | $ | (1,978,124 | ) | $ | 6,624,584 | $ | 4,891,683 | $ | (1,735,136 | ) | $ | 3,156,547 | |||||||||||||
Deferred financing costs, net (3) | N/A | 76,875 | 49,538 | ||||||||||||||||||||||||
Other intangible assets, net | $ | 6,701,459 | $ | 3,206,085 | |||||||||||||||||||||||
-1 | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. | ||||||||||||||||||||||||||
-2 | Acquired network location intangibles are amortized over the shorter of the term of the corresponding ground lease taking into consideration lease renewal options and residual value or up to 20 years, as the Company considers these intangibles to be directly related to the tower assets. | ||||||||||||||||||||||||||
-3 | Deferred financing costs are amortized over the term of the respective debt instruments to which they relate using the effective interest method. This amortization is included in interest expense, rather than in amortization expense. | ||||||||||||||||||||||||||
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-related 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. During the year ended December 31, 2013, the Company retired $19.6 million of intangible assets related to non-competition agreements that had expired and were fully amortized. | |||||||||||||||||||||||||||
The Company amortizes its acquired network intangibles and customer-related intangibles on a straight-line basis over the estimated useful lives. As of December 31, 2013, the remaining weighted average amortization period of the Company’s intangible assets, excluding the TV Azteca Economic Rights, is approximately 16 years. Amortization of intangible assets for the years ended December 31, 2013, 2012 and 2011 aggregated approximately $282.5 million, $207.3 million and $176.4 million (excluding amortization of deferred financing costs, which is included in interest expense), respectively. Based on current exchange rates, the Company expects to record amortization expense (excluding amortization of deferred financing costs) as follows over the next five years (in millions): | |||||||||||||||||||||||||||
Year Ending December 31, | |||||||||||||||||||||||||||
2014 | $ | 426.1 | |||||||||||||||||||||||||
2015 | 423.3 | ||||||||||||||||||||||||||
2016 | 420.5 | ||||||||||||||||||||||||||
2017 | 418 | ||||||||||||||||||||||||||
2018 | 415.8 | ||||||||||||||||||||||||||
Notes_Receivable_and_Other_Non
Notes Receivable and Other Non-current Assets | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Notes Receivable And Other Long Term Assets [Abstract] | ' | |||||||
Notes Receivable and Other Non-Current Assets | ' | |||||||
NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | ||||||||
Notes receivable and other non-current assets consists of the following as of December 31, (in thousands): | ||||||||
2013 | 2012 | |||||||
Long-term prepaid ground rent | $ | 176,313 | $ | 158,935 | ||||
Notes receivable | 89,381 | 114,256 | ||||||
Other miscellaneous assets | 179,310 | 179,597 | ||||||
Balance as of December 31, | $ | 445,004 | $ | 452,788 | ||||
TV Azteca Note Receivable—In 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, which at the time of issuance was determined to be below market and therefore a corresponding discount was recorded. 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. During the year ended December 31, 2013, TV Azteca made a payment of $34.4 million, which included $28.0 million of principal on the loan, related interest and a prepayment penalty of $4.9 million in accordance with the terms of the agreement. In addition, the Company recorded additional interest income of $2.7 million related to the write-off of a portion of the unamortized discount associated with the original loan. As of December 31, 2013, the outstanding balance on the loan is $91.8 million, or $82.9 million net of discount. | ||||||||
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 Company’s 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 original discount on the note, which aggregated approximately $30.2 million, represent the cost to acquire the Economic Rights, which is recorded as an intangible asset and is being amortized over the seventy-year life of the Economic Rights Agreement. |
Acquisitions
Acquisitions | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Business Combination, Description [Abstract] | ' | |||||||||||||||||||||||||||
Acquisitions | ' | |||||||||||||||||||||||||||
ACQUISITIONS | ||||||||||||||||||||||||||||
All of the acquisitions described below are being accounted for as business combinations and are consistent with the Company’s strategy to expand in selected geographic areas. | ||||||||||||||||||||||||||||
The estimates of the fair value of the assets acquired and liabilities assumed at the date of the applicable 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, intangible, real property and other assets acquired and liabilities assumed, including contingent consideration, and residual goodwill and any related tax impact. The fair values of these net assets acquired are based on management’s preliminary estimates and assumptions, as well as other information compiled by management, including valuations that utilize customary valuation procedures and techniques. While the Company believes that such preliminary estimates provide a reasonable basis for estimating the fair value of assets acquired and liabilities assumed, it will evaluate any necessary information prior to finalization of the fair value. During the measurement period, the Company will adjust assets 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 revised estimated values of those assets or liabilities as of that date. The effect of 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 goodwill, or require acceleration of the amortization expense of intangible assets in subsequent periods. During the year ended December 31, 2013, the Company made certain purchase accounting measurement period adjustments related to several acquisitions and therefore retrospectively adjusted the fair value of the assets acquired and liabilities assumed in the consolidated balance sheet as of December 31, 2012. | ||||||||||||||||||||||||||||
Impact of current year acquisitions—The Company typically acquires communications sites from wireless carriers or other tower operators and subsequently integrates those sites into its existing portfolio of communications sites. The financial results of the Company’s acquisitions have been included in the Company’s consolidated statements of operations for the year ended December 31, 2013 from the date of respective acquisition. The date of acquisition, and by extension the point at which the Company begins to recognize the results of an acquisition, may be dependent upon, among other things, the receipt of contractual consents, the commencement and extent of leasing arrangements and the timing of the transfer of title or rights to the assets, which may be accomplished in phases. For sites acquired from communication service providers, these sites may never have been operated as a business and were utilized solely by the seller as a component of their network infrastructure. An acquisition, depending on its size and nature, may or may not involve the transfer of business operations or employees. | ||||||||||||||||||||||||||||
The estimated aggregate impact of the 2013 acquisitions on the Company’s revenues and gross margin for the year ended December 31, 2013 is approximately $129.8 million and $94.5 million, respectively. The revenues and gross margin amounts also reflect incremental revenues from the addition of new tenants to the acquired sites subsequent to the date of acquisition. Incremental amounts of segment selling, general, administrative and development expense have not been reflected as the amounts attributable to acquisitions are not comparable. | ||||||||||||||||||||||||||||
The Company recognizes acquisition and merger related costs as expenses in the period in which they are incurred and services are received. Acquisition and merger related costs may include finder’s fees, advisory, legal, accounting, valuation and other professional or consulting fees and general administrative costs and are included in Other operating expenses. During the years ended December 31, 2013, 2012 and 2011, the Company recognized acquisition and merger related expenses, including the fair value adjustments to contingent consideration, of $36.2 million, $25.6 million and $28.1 million, respectively. | ||||||||||||||||||||||||||||
MIPT Acquisition | ||||||||||||||||||||||||||||
On October 1, 2013, the Company, through its wholly-owned subsidiary American Tower Investments LLC, acquired 100% of the outstanding common membership interests of MIP Tower Holdings LLC (“MIPT”), a private REIT and the parent company of Global Tower Partners (“GTP”), an owner and operator, through its various operating subsidiaries, of approximately 4,860 communications sites in the United States and approximately 510 communications sites in Costa Rica and Panama. GTP also manages rooftops and holds property interests that it leases to communications service providers and third-party tower operators. MIPT’s revenues and gross margin for the period from the acquisition date through December 31, 2013 were $84.1 million and $65.0 million, respectively. | ||||||||||||||||||||||||||||
The preliminary purchase price of $4.9 billion was satisfied with approximately $3.3 billion in cash, including an aggregate of approximately $2.8 billion from borrowings under the Company’s credit facilities, and the assumption of approximately $1.5 billion of MIPT’s existing indebtedness. | ||||||||||||||||||||||||||||
The consideration transferred consists of the following (in thousands): | ||||||||||||||||||||||||||||
Cash consideration (1) | $ | 3,330,462 | ||||||||||||||||||||||||||
Assumption of existing indebtedness at historical cost | 1,527,621 | |||||||||||||||||||||||||||
Estimated total purchase price | $ | 4,858,083 | ||||||||||||||||||||||||||
-1 | Cash consideration includes $14.5 million of an additional purchase price adjustment which was paid to the sellers subsequent to December 31, 2013. The $14.5 million is reflected in Accrued expenses on the consolidated balance sheet as of December 31, 2013. | |||||||||||||||||||||||||||
The following table summarizes the preliminary allocation of the aggregate purchase price paid and the amounts of assets acquired and liabilities assumed for the MIPT acquisition based upon their estimated fair value at the date of acquisition (in thousands). Balances are reflected in the accompanying consolidated balance sheets as of December 31, 2013. | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 35,967 | ||||||||||||||||||||||||||
Restricted cash | 30,883 | |||||||||||||||||||||||||||
Accounts receivable, net | 10,021 | |||||||||||||||||||||||||||
Prepaid and other current assets | 22,875 | |||||||||||||||||||||||||||
Property and equipment | 996,901 | |||||||||||||||||||||||||||
Intangible assets (1): | ||||||||||||||||||||||||||||
Customer-related intangible assets | 2,629,188 | |||||||||||||||||||||||||||
Network location intangible assets | 467,300 | |||||||||||||||||||||||||||
Notes receivable and other non-current assets | 4,220 | |||||||||||||||||||||||||||
Accounts payable | (9,249 | ) | ||||||||||||||||||||||||||
Accrued expenses | (37,004 | ) | ||||||||||||||||||||||||||
Accrued interest | (3,253 | ) | ||||||||||||||||||||||||||
Current portion of long-term obligations | (2,820 | ) | ||||||||||||||||||||||||||
Unearned revenue | (35,753 | ) | ||||||||||||||||||||||||||
Long-term obligations (2) | (1,573,366 | ) | ||||||||||||||||||||||||||
Asset retirement obligations | (43,089 | ) | ||||||||||||||||||||||||||
Other non-current liabilities | (37,326 | ) | ||||||||||||||||||||||||||
Fair value of net assets acquired | $ | 2,455,495 | ||||||||||||||||||||||||||
Goodwill (3) | 874,967 | |||||||||||||||||||||||||||
-1 | Customer-related intangible assets and network location intangible assets are amortized on a straight-line basis over periods of up to 20 years. | |||||||||||||||||||||||||||
-2 | Long-term obligations included $1.5 billion of MIPT’s existing indebtedness and a fair value adjustment of $53.0 million. The fair value adjustment was based primarily on reported market values using Level 2 inputs. | |||||||||||||||||||||||||||
-3 | Goodwill was allocated to the Company’s domestic and international rental and management segments, as applicable, and the Company expects goodwill recorded will not be deductible for tax purposes. | |||||||||||||||||||||||||||
2013 Acquisitions | ||||||||||||||||||||||||||||
Axtel Mexico Acquisition—On January 31, 2013, the Company acquired 883 communications sites from Axtel, S.A.B. de C.V. for an aggregate purchase price of $248.5 million, subject to post-closing adjustments and value added tax. | ||||||||||||||||||||||||||||
NII Holdings Acquisition—On August 8, 2013, the Company entered into an agreement with NII Holdings, Inc. (“NII”) to acquire up to 1,666 communications sites in Mexico and 2,790 communications sites in Brazil in two separate transactions. | ||||||||||||||||||||||||||||
On November 8, 2013, the Company acquired 1,483 communications sites in Mexico from NII for an aggregate purchase price of approximately $436.0 million (including value added tax of approximately $60.3 million) and net assets of approximately $0.9 million for total cash consideration of approximately $436.9 million. The aggregate purchase price is subject to post-closing adjustments. | ||||||||||||||||||||||||||||
On December 6, 2013, the Company acquired 1,940 communications sites in Brazil from NII for an aggregate purchase price of approximately $349.0 million, subject to post-closing adjustments. | ||||||||||||||||||||||||||||
Z Sites Acquisition—On November 29, 2013, the Company acquired 238 communications sites from Z-Sites Locação de Imóveis Ltda for an aggregate purchase price of approximately $122.8 million, subject to post-closing adjustments. Of the total purchase price, $67.8 million was paid during 2013 and the remaining balance of $55.0 million is reflected in Accounts payable in the consolidated balance sheet as of December 31, 2013, and was subsequently paid. | ||||||||||||||||||||||||||||
Other International Acquisitions—During the year ended December 31, 2013, the Company acquired a total of 714 additional communications sites in Brazil, Chile, Colombia, Ghana, Mexico and South Africa, for an aggregate purchase price of $89.8 million (including contingent consideration of $4.1 million and value added tax of $4.9 million). Of the total purchase price, $83.4 million was paid during 2013 and the remaining balance of $6.4 million is reflected in Accounts payable in the consolidated balance sheet as of December 31, 2013, and was subsequently paid. | ||||||||||||||||||||||||||||
Other U.S. Acquisitions—During the year ended December 31, 2013, the Company acquired a total of 55 additional communications sites and 23 property interests in the United States for an aggregate purchase price of $65.6 million, subject to post-closing adjustments. The purchase price included cash paid of approximately $65.2 million and net liabilities assumed of approximately $0.4 million. | ||||||||||||||||||||||||||||
The following table summarizes the preliminary allocation of the aggregate purchase price paid and the amounts of assets acquired and liabilities assumed for the fiscal year 2013 acquisitions based upon their estimated fair value at the date of acquisition (in thousands). Balances are reflected in the accompanying consolidated balance sheets as of December 31, 2013. | ||||||||||||||||||||||||||||
Axtel Mexico (1) | NII Mexico (2) | NII Brazil | Z Sites | Other International | Other U.S. | |||||||||||||||||||||||
Current assets | $ | — | $ | 61,183 | $ | — | $ | — | $ | 4,863 | $ | 1,220 | ||||||||||||||||
Non-current assets | 2,626 | 11,969 | 4,484 | 6,157 | 1,991 | 44 | ||||||||||||||||||||||
Property and equipment | 86,100 | 147,364 | 105,784 | 24,832 | 44,844 | 23,803 | ||||||||||||||||||||||
Intangible assets (3): | ||||||||||||||||||||||||||||
Customer-related intangible assets | 119,392 | 135,175 | 149,333 | 64,213 | 20,590 | 29,325 | ||||||||||||||||||||||
Network location intangible assets | 43,031 | 63,791 | 93,867 | 17,123 | 20,727 | 7,607 | ||||||||||||||||||||||
Current liabilities | — | — | — | — | — | (454 | ) | |||||||||||||||||||||
Other non-current liabilities | (9,377 | ) | (10,478 | ) | (13,188 | ) | (1,502 | ) | (8,168 | ) | (786 | ) | ||||||||||||||||
Fair value of net assets acquired | $ | 241,772 | $ | 409,004 | $ | 340,280 | $ | 110,823 | $ | 84,847 | $ | 60,759 | ||||||||||||||||
Goodwill (4) | 6,751 | 27,928 | 8,704 | 11,953 | 4,970 | 4,403 | ||||||||||||||||||||||
-1 | The allocation of the purchase price was finalized during the year ended December 31, 2013. | |||||||||||||||||||||||||||
-2 | Current assets includes approximately $60.3 million of value added tax. | |||||||||||||||||||||||||||
-3 | Customer-related intangible assets and network location intangible assets are amortized on a straight-line basis over periods of up to 20 years. | |||||||||||||||||||||||||||
-4 | Goodwill was allocated to the Company’s domestic and international rental and management segments, as applicable, and the Company expects goodwill recorded will be deductible for tax purposes. | |||||||||||||||||||||||||||
Pro Forma Consolidated Results | ||||||||||||||||||||||||||||
The following pro forma information presents the financial results as if the 2013 acquisitions, including the acquisition of MIPT, had occurred on January 1, 2012 (in thousands, except per share data). Management relied on various estimates and assumptions due to the fact that some of the 2013 acquisitions never operated as a business and were utilized solely by the seller as a component of their network infrastructure. As a result, historical operating results for these acquisitions are not available. The pro forma results do not include any anticipated cost synergies, costs or other effects of the planned integration of the 2013 acquisitions. Accordingly, such pro forma amounts are not necessarily indicative of the results that actually would have occurred had the acquisitions been completed on the dates indicated, nor are they indicative of the future operating results of the Company. | ||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Pro forma operating revenues | $ | 3,742,170 | $ | 3,368,656 | ||||||||||||||||||||||||
Pro forma net income attributable to American Tower Corporation | $ | 458,954 | $ | 483,690 | ||||||||||||||||||||||||
Pro forma net income per common share amounts: | ||||||||||||||||||||||||||||
Basic net income attributable to American Tower Corporation | $ | 1.16 | $ | 1.23 | ||||||||||||||||||||||||
Diluted net income attributable to American Tower Corporation | $ | 1.15 | $ | 1.21 | ||||||||||||||||||||||||
2012 Acquisitions | ||||||||||||||||||||||||||||
Brazil-Vivo Acquisition—On March 30, 2012, the Company entered into a definitive agreement to purchase up to 1,500 communications sites from Vivo S.A. (“Vivo”). Pursuant to the agreement, on March 30, 2012, the Company purchased 800 communications sites for an aggregate purchase price of $151.7 million. On June 30, 2012, the Company purchased the remaining 700 communications sites for an aggregate purchase price of $126.3 million. In addition, the Company and Vivo amended the asset purchase agreement to provide for additional acquisitions of up to 300 communications sites and on August 31, 2012, the Company purchased an additional 192 communications sites from Vivo for an aggregate purchase price of $32.7 million. | ||||||||||||||||||||||||||||
Diamond Acquisition (United States)—On December 28, 2012, the Company acquired Diamond Communications Trust and its subsidiary New Towers LLC, which held a portfolio of 316 communications sites and 24 property interests under third-party communications sites, for an aggregate purchase price of $322.5 million, including cash paid of $320.1 million and net liabilities assumed of $2.4 million. | ||||||||||||||||||||||||||||
Germany Acquisition—On December 4, 2012, the Company completed the purchase of 2,031 communications sites from E-Plus Mobilfunk GmbH & Co. KG, for an aggregate purchase price of $525.7 million. | ||||||||||||||||||||||||||||
Skyway Acquisition (United States)—On December 20, 2012, the Company acquired an entity holding a portfolio of 318 communications sites from Skyway Towers Holdings, LLC (“Skyway”) for an aggregate purchase price of $169.6 million, including cash paid of approximately $169.5 million and net liabilities assumed of approximately $0.1 million. The aggregate purchase price was subsequently decreased to $166.4 million, including cash paid of approximately $166.2 million and net liabilities assumed of approximately $0.2 million, primarily due to the return of eleven communications sites to Skyway pursuant to the terms of the purchase agreement. | ||||||||||||||||||||||||||||
Uganda Acquisition—On December 8, 2011, the Company entered into a definitive agreement with MTN Group Limited (“MTN Group”) to establish a joint venture in Uganda. The joint venture is controlled by a holding company of which a wholly owned subsidiary of the Company holds a 51% interest and a wholly owned subsidiary of MTN Group holds a 49% interest. The joint venture owns a tower operations company in Uganda and is managed and controlled by the Company. | ||||||||||||||||||||||||||||
Pursuant to the agreement, the joint venture agreed to purchase a total of up to 1,000 existing communications sites from MTN Group’s operating subsidiary in Uganda, subject to customary closing conditions. On June 29, 2012, the joint venture acquired 962 communications sites for an aggregate purchase price of $171.5 million, subject to post-closing adjustments. As a result of post-closing adjustments, the aggregate purchase price was adjusted from $171.5 million to $173.2 million during the year ended December 31, 2012, and further adjusted to $169.2 million during the year ended December 31, 2013. | ||||||||||||||||||||||||||||
On August 15, 2013, the Company returned seven communications sites to MTN Group pursuant to the terms of the agreement. | ||||||||||||||||||||||||||||
Other International Acquisitions—During the year ended December 31, 2012, the Company acquired a total of 705 additional communications sites and equipment in the Company’s international markets, including Mexico and South Africa, for an aggregate purchase price of $162.7 million (including value added tax of $21.9 million). | ||||||||||||||||||||||||||||
Other United States Acquisitions—During the year ended December 31, 2012, the Company acquired a total of 128 additional communications sites and equipment in the United States for an aggregate purchase price of $146.2 million, subject to post-closing adjustments. The purchase price was subsequently reduced to $146.1 million during year ended December 31, 2013. | ||||||||||||||||||||||||||||
The following table summarizes the updated allocation of the aggregate purchase price paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition (in thousands). Balances are reflected in the accompanying consolidated balance sheets as of December 31, 2013. | ||||||||||||||||||||||||||||
Brazil Vivo (1) | Diamond (U.S.) (1) | Germany (1) | Skyway (U.S.) (1) | Uganda (1) | Other International (1) | Other U.S. (1) | ||||||||||||||||||||||
Current assets | $ | — | $ | 842 | $ | 14,043 | $ | 530 | $ | — | $ | 21,911 | $ | — | ||||||||||||||
Non-current assets | 22,418 | — | — | — | 2,258 | 2,309 | 153 | |||||||||||||||||||||
Property and equipment | 138,959 | 70,836 | 203,494 | 60,230 | 102,366 | 66,073 | 61,091 | |||||||||||||||||||||
Intangible assets (2): | ||||||||||||||||||||||||||||
Customer-related intangible assets | 83,012 | 184,637 | 288,330 | 64,400 | 30,500 | 52,911 | 61,266 | |||||||||||||||||||||
Network location intangible assets | 40,983 | 32,152 | 21,997 | 20,500 | 26,000 | 15,935 | 16,133 | |||||||||||||||||||||
Current liabilities | — | (3,216 | ) | (2,988 | ) | (454 | ) | — | — | — | ||||||||||||||||||
Other non-current liabilities | (18,195 | ) | (3,423 | ) | (23,243 | ) | (3,233 | ) | (7,528 | ) | (6,294 | ) | (1,310 | ) | ||||||||||||||
Fair value of net assets acquired | $ | 267,177 | $ | 281,828 | $ | 501,633 | $ | 141,973 | $ | 153,596 | $ | 152,845 | $ | 137,333 | ||||||||||||||
Goodwill (3) | 43,518 | 38,298 | 24,020 | 24,212 | 15,644 | 9,844 | 8,724 | |||||||||||||||||||||
(1) The allocation of the purchase price was finalized during the year ended December 31, 2013. | ||||||||||||||||||||||||||||
(2) Customer-related intangible assets and network location intangible assets are amortized on a straight-line basis over periods of up to 20 years. | ||||||||||||||||||||||||||||
(3) Goodwill was allocated to the Company’s domestic and international rental and management segments, as applicable, and the Company expects goodwill recorded will be deductible for tax purposes, except for Uganda where goodwill is not expected to be deductible and South Africa where goodwill is expected to be partially deductible. | ||||||||||||||||||||||||||||
The following table summarizes the preliminary allocation of the aggregate purchase price paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition (in thousands). Balances are reflected in the consolidated balance sheets in the Annual Report on Form 10-K for the year ended December 31, 2012. | ||||||||||||||||||||||||||||
Brazil Vivo | Diamond (U.S.) | Germany | Skyway (U.S.) | Uganda | Other International | Other U.S. | ||||||||||||||||||||||
Current assets | $ | — | $ | 842 | $ | 14,483 | $ | 740 | $ | — | $ | 21,911 | $ | — | ||||||||||||||
Non-current assets | 24,460 | — | — | — | 2,258 | 4,196 | 153 | |||||||||||||||||||||
Property and equipment | 138,959 | 69,045 | 233,073 | 60,671 | 102,366 | 61,080 | 61,995 | |||||||||||||||||||||
Intangible assets (1): | ||||||||||||||||||||||||||||
Customer-related intangible assets | 80,010 | 171,300 | 218,146 | 63,000 | 36,500 | 49,227 | 61,966 | |||||||||||||||||||||
Network location intangible assets | 37,980 | 28,400 | 20,819 | 20,700 | 27,000 | 16,442 | 16,233 | |||||||||||||||||||||
Current liabilities | — | (3,216 | ) | (2,990 | ) | (454 | ) | — | — | — | ||||||||||||||||||
Other non-current liabilities | (18,195 | ) | (3,423 | ) | (23,243 | ) | (3,333 | ) | (7,528 | ) | (5,893 | ) | (1,310 | ) | ||||||||||||||
Fair value of net assets acquired | $ | 263,214 | $ | 262,948 | $ | 460,288 | $ | 141,324 | $ | 160,596 | $ | 146,963 | $ | 139,037 | ||||||||||||||
Goodwill (2) | 47,481 | 57,178 | 65,365 | 28,224 | 12,564 | 15,726 | 7,124 | |||||||||||||||||||||
-1 | Customer-related intangible assets and network location intangible assets are amortized on a straight-line basis over periods of up to 20 years. | |||||||||||||||||||||||||||
-2 | Goodwill was allocated to the Company’s domestic and international rental and management segments, as applicable, and the Company expects goodwill recorded will be deductible for tax purposes, except for Uganda where goodwill is not expected to be deductible and South Africa where goodwill is expected to be partially deductible. | |||||||||||||||||||||||||||
Acquisition-Related Contingent Consideration | ||||||||||||||||||||||||||||
The Company may be required to pay additional consideration under certain agreements for the acquisition of communications sites if specific conditions are met or events occur. | ||||||||||||||||||||||||||||
Colombia—Under the terms of the agreement with Colombia Movil S.A. E.S.P. (“Colombia Movil”), the Company is required to make additional payments upon the conversion of certain barter agreements with other wireless carriers to cash paying lease agreements. Based on current estimates, the Company expects the value of potential contingent consideration payments required to be made under the agreement to be between zero and $36.7 million and estimates it to be $23.0 million using a probability weighted average of the expected outcomes at December 31, 2013. During the year ended December 31, 2013, the Company recorded additional contingent consideration of $4.1 million related to acquisitions during the period and recorded an increase in fair value of $3.1 million in Other operating expenses in the accompanying consolidated statements of operations. | ||||||||||||||||||||||||||||
Ghana—Under the terms of the agreement, as amended, with MTN Group Limited, the Company is required to make additional payments upon the conversion of certain barter agreements with other wireless carriers to cash paying lease agreements. Based on current estimates, the Company expects the value of potential contingent consideration payments required to be made under the amended agreement to be between zero and $0.7 million and estimates it to be $0.7 million using a probability weighted average of the expected outcomes at December 31, 2013. In addition, during the year ended December 31, 2013, the Company recorded an increase in fair value of $0.3 million in Other operating expenses in the accompanying consolidated statements of operations and made payments under this agreement of $0.3 million. | ||||||||||||||||||||||||||||
MIPT—In connection with the acquisition of MIPT, the Company assumed additional contingent consideration liability related to previously closed acquisitions in Costa Rica, Panama and the United States. The Company is required to make additional payments to the sellers if certain pre-designated tenant leases commence during a limited specified period of time after the applicable acquisition was completed, generally one year or less. The Company initially recorded $9.3 million of contingent consideration liability as part of the preliminary purchase price allocation upon closing of the acquisition. Based on current estimates, the Company expects the value of potential contingent consideration payments required to be made under the amended agreement to be between zero and $12.7 million and estimates it to be $8.1 million using a probability weighted average of the expected outcomes at December 31, 2013. In addition, during the three months ended December 31, 2013, the Company recorded a decrease in fair value of $0.5 million in Other operating expenses in the accompanying consolidated statements of operations and made payments under this agreement of $0.7 million. | ||||||||||||||||||||||||||||
Other—Certain agreements in Brazil, South Africa and the United States provided for contingent consideration. During the year ended December 31, 2013, the Company settled its contingent consideration obligations under these agreements. | ||||||||||||||||||||||||||||
During the year ended December 31, 2013, the Company paid an additional $3.0 million and $4.8 million to satisfy its remaining obligations associated with acquisitions in Brazil and South Africa, respectively. In addition, during the year ended December 31, 2013, the Company reduced the obligation associated with an acquisition in the United States to zero. During the year ended December 31, 2013, the Company recorded a net increase of $2.8 million in fair value related to the contingent consideration liability for the acquisitions of communications sites in Brazil, South Africa and the United States. The change in fair value was recorded in Other operating expenses in the accompanying consolidated statements of operations. | ||||||||||||||||||||||||||||
For more information regarding contingent consideration, see note 12 to the accompanying consolidated financial statements. |
Accrued_Expenses
Accrued Expenses | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities, Current [Abstract] | ' | |||||||
Accrued Expenses | ' | |||||||
ACCRUED EXPENSES | ||||||||
Accrued expenses consists of the following as of December 31, (in thousands): | ||||||||
2013 | 2012 | |||||||
Accrued property and real estate taxes | $ | 54,529 | $ | 36,814 | ||||
Accrued construction costs | 52,446 | 20,711 | ||||||
Payroll and related withholdings | 50,843 | 37,586 | ||||||
Accrued rent | 28,456 | 24,394 | ||||||
Other accrued expenses | 229,050 | 167,457 | ||||||
Balance as of December 31, | $ | 415,324 | $ | 286,962 | ||||
LongTerm_Obligations
Long-Term Obligations | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Long-term Debt, Excluding Current Maturities [Abstract] | ' | |||||||||||||||||
Long-Term Obligations | ' | |||||||||||||||||
LONG-TERM OBLIGATIONS | ||||||||||||||||||
Outstanding amounts under the Company’s long-term obligations consist of the following as of December 31, (in thousands): | ||||||||||||||||||
2013 | 2012 | Contractual Interest Rate (1) | Maturity Date (1) | |||||||||||||||
American Tower subsidiary debt: | ||||||||||||||||||
Commercial Mortgage Pass-Through Certificates, Series 2007-1 | $ | — | $ | 1,750,000 | N/A | N/A | ||||||||||||
Secured Tower Revenue Securities, Series 2013-1A | 500,000 | — | 1.551 | % | March 15, 2018 (2) | |||||||||||||
Secured Tower Revenue Securities, Series 2013-2A | 1,300,000 | — | 3.07 | % | March 15, 2023 (2) | |||||||||||||
GTP Notes (3) | 1,537,881 | — | 2.364% - 8.112% | Various | ||||||||||||||
Costa Rica Loan (4) | 32,600 | — | 5.744 | % | February 16, 2019 | |||||||||||||
Unison Notes (5) | 205,436 | 207,188 | 5.349% - 9.522% | Various | ||||||||||||||
Colombian bridge loans (6) | 56,058 | 53,169 | 7.94 | % | April 22, 2014 | |||||||||||||
Mexican Loan (4)(7) | 377,470 | — | 4.04 | % | May 1, 2015 | |||||||||||||
Ghana Loan (8) | 158,327 | 130,951 | 9 | % | May 4, 2016 | |||||||||||||
Uganda Loan (4)(9) | 66,926 | 61,023 | 5.984 | % | June 29, 2019 | |||||||||||||
South African Facility (4)(10) | 88,334 | 98,456 | 8.967 | % | March 31, 2020 | |||||||||||||
Colombian Long-Term Credit Facility (4)(11) | 70,063 | 76,347 | 8.166 | % | November 30, 2020 | |||||||||||||
Colombian Loan (12) | 35,697 | 19,176 | 8.3 | % | February 22, 2022 (13) | |||||||||||||
Total American Tower subsidiary debt | 4,428,792 | 2,396,310 | ||||||||||||||||
American Tower Corporation debt: | ||||||||||||||||||
2011 Credit Facility | — | 265,000 | N/A | N/A | ||||||||||||||
2012 Credit Facility (4) | 88,000 | 992,000 | 1.795 | % | January 31, 2017 | |||||||||||||
2013 Credit Facility (4) | 1,853,000 | — | 1.42 | % | June 28, 2018 | |||||||||||||
2012 Term Loan | — | 750,000 | N/A | N/A | ||||||||||||||
2013 Term Loan (4) | 1,500,000 | — | 1.42 | % | January 3, 2019 | |||||||||||||
4.625% Notes | 599,794 | 599,638 | 4.625 | % | April 1, 2015 | |||||||||||||
7.00% Notes | 500,000 | 500,000 | 7 | % | October 15, 2017 | |||||||||||||
4.50% Notes | 999,520 | 999,414 | 4.5 | % | January 15, 2018 | |||||||||||||
3.40% Notes | 749,373 | — | 3.4 | % | February 15, 2019 | |||||||||||||
7.25% Notes | 296,748 | 296,272 | 7.25 | % | May 15, 2019 | |||||||||||||
5.05% Notes | 699,413 | 699,333 | 5.05 | % | September 1, 2020 | |||||||||||||
5.90% Notes | 499,414 | 499,356 | 5.9 | % | November 1, 2021 | |||||||||||||
4.70% Notes | 698,871 | 698,760 | 4.7 | % | March 15, 2022 | |||||||||||||
3.50% Notes | 992,520 | — | 3.5 | % | January 31, 2023 | |||||||||||||
5.00% Notes | 499,455 | — | 5 | % | February 15, 2024 | |||||||||||||
Total American Tower Corporation debt | 9,976,108 | 6,299,773 | ||||||||||||||||
Other debt, including capital lease obligations | 73,378 | 57,293 | ||||||||||||||||
Total | 14,478,278 | 8,753,376 | ||||||||||||||||
Less current portion of long-term obligations | (70,132 | ) | (60,031 | ) | ||||||||||||||
Long-term obligations | $ | 14,408,146 | $ | 8,693,345 | ||||||||||||||
(1) Represents the interest rate and maturity date as of December 31, 2013 and does not reflect the impact of interest rate swap agreements. | ||||||||||||||||||
(2) Represents anticipated repayment date. | ||||||||||||||||||
(3) Includes approximately $48.0 million of unamortized premium recorded as a result of fair value adjustments for debt assumed upon acquisition of MIPT. | ||||||||||||||||||
(4) Interest rate as of December 31, 2013. Debt accrues interest at a variable rate. | ||||||||||||||||||
(5) Includes approximately $9.4 million of unamortized premium recorded as a result of fair value adjustments recognized upon acquisition of Unison. | ||||||||||||||||||
(6) Denominated in Colombian Pesos (“COP”). As of December 31, 2013, the aggregate principal amount outstanding under the bridge loans is 108.0 billion COP. | ||||||||||||||||||
(7) Denominated in Mexican Pesos (“MXN”). As of December 31, 2013, the aggregate principal amount outstanding under the Mexican Loan is 4.9 billion MXN. | ||||||||||||||||||
(8) Includes approximately $27.4 million of capitalized accrued interest pursuant to the terms of the loan agreement. | ||||||||||||||||||
(9) Includes approximately $5.9 million of capitalized accrued interest pursuant to the terms of the loan agreement. | ||||||||||||||||||
(10) Denominated in South African Rand (“ZAR”). As of December 31, 2013, the aggregate principal amount outstanding under the South African facility is | ||||||||||||||||||
926.9 million ZAR. | ||||||||||||||||||
(11) Denominated in COP. As of December 31, 2013, the aggregate principal amount outstanding under the Colombian long-term credit facility 135.0 billion COP. | ||||||||||||||||||
(12) Includes approximately $0.5 million of capitalized accrued interest pursuant to the terms of the loan agreement. | ||||||||||||||||||
(13) Borrowings subsequent to the initial loan mature approximately ten years from the date of such borrowing. | ||||||||||||||||||
Commercial Mortgage Pass-Through Certificates, Series 2007-1—During the year ended December 31, 2007, the Company completed a securitization transaction (the “2007 Securitization”) involving assets related to 5,295 broadcast and wireless communications 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”). On March 15, 2013, the Company repaid all indebtedness outstanding under the Certificates ($1.75 billion in principal amount), plus prepayment consideration and accrued interest thereon and other costs and expenses related thereto, with proceeds from the offering of $1.8 billion of the Securities, as described in more detail below. The Company recorded a Loss on retirement of long-term obligations in the accompanying consolidated statements of operations of $35.3 million, consisting of prepayment consideration of $29.2 million and the expense of deferred financing costs of $6.1 million. | ||||||||||||||||||
Secured Tower Revenue Securities, Series 2013-1A and Series 2013-2A—On March 15, 2013, the Company completed a securitization transaction (the “Securitization”) involving assets related to 5,195 wireless and broadcast communications towers (the “Secured Towers”) owned by two special purpose subsidiaries of the Company, through a private offering of $1.8 billion of the Securities. The net proceeds of the transaction were $1.78 billion. The Securities 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 nonrecourse loan (the “Loan”) to American Tower Asset Sub, LLC and American Tower Asset Sub II, LLC (the “Borrowers”), pursuant to a First Amended and Restated Loan and Security Agreement dated as of March 15, 2013 (the “Loan Agreement”). The Borrowers are special purpose entities formed solely for the purpose of holding the Secured Towers subject to a securitization. | ||||||||||||||||||
The Securities were issued in two separate series of the same class pursuant to a First Amended and Restated Trust and Servicing Agreement (the “Trust Agreement”), with terms identical to the Loan. The effective weighted average life and interest rate of the Securities is 8.6 years and 2.648%, respectively, as of the date of issuance. | ||||||||||||||||||
Amounts due under the Loan will be paid by the Borrowers from the cash flows generated by the Secured Towers. These funds in turn will be used by or on behalf of the Trust to service the payment of interest on the Securities and for any other payments required by the Loan Agreement or Trust Agreement. The Borrowers are required to make monthly payments of interest on the Loan. Subject to certain limited exceptions described below, no payments of principal will be required to be made prior to March 15, 2018, which is the anticipated repayment date for the component of the Loan associated with the Series 2013-1A Securities. On a monthly basis, after payment of all required amounts under the Loan Agreement and Trust Agreement, the excess cash flows generated from the operation of the Secured Towers are released to the Borrowers, and can then be distributed to, and used by, the Company. However, if the debt service coverage ratio (the “DSCR”), generally defined as the net cash flow divided by the amount of interest, servicing fees and trustee fees that the Borrowers will be required to pay over the succeeding twelve months on the principal amount of the Loan, as of the last day of any calendar quarter prior to the applicable anticipated repayment date, were equal to or below 1.30x (the “Cash Trap DSCR”) for such quarter, and the DSCR continues to be equal to or below the Cash Trap DSCR for two consecutive calendar quarters, then all cash flow in excess of amounts required to make debt service payments, to fund required reserves, to pay management fees and budgeted operating expenses and to make other payments required under the loan documents, referred to as excess cash flow, will be deposited into a reserve account instead of being released to the Borrowers. The funds in the reserve account will not be released to the Borrowers unless the DSCR exceeds the Cash Trap DSCR for two consecutive calendar quarters. An “amortization period” commences if (i) as of the end of any calendar quarter the DSCR equals or falls below 1.15x (the “Minimum DSCR”) for such calendar quarter and such amortization period will continue to exist until the DSCR exceeds the Minimum DSCR for two consecutive calendar quarters or (ii) on the anticipated repayment date the component of the Loan corresponding to the applicable subclass of the Securities has not been repaid in full, provided that such amortization period shall apply with respect to such component that has not been repaid in full. During an amortization period all excess cash flow and any amounts then in the reserve account because the Cash Trap DSCR was not met would be applied to payment of the principal on the Loan. | ||||||||||||||||||
The Borrowers may prepay the Loan in whole or in part at any time provided it is accompanied by applicable prepayment consideration. If the prepayment occurs within twelve months of the anticipated repayment date for the Series 2013-1A Securities or eighteen months of the anticipated repayment date for the Series 2013-2A Securities, no prepayment consideration is due. The entire unpaid principal balance of the component of the Loan related to the Series 2013-1A Securities and the Series 2013-2A Securities will be due in March 2043 and March 2048, respectively. The Loan may be defeased in whole at any time prior to the anticipated repayment date for any component of the Loan then outstanding. | ||||||||||||||||||
The Loan is secured by (1) mortgages, deeds of trust and deeds to secure debt on substantially all of the Secured Towers, (2) a pledge of the Borrowers’ operating cash flows from the Secured Towers, (3) a security interest in substantially all of the Borrowers’ personal property and fixtures and (4) the Borrowers’ rights under the tenant leases and the management agreement entered into in connection with the Securitization. American Tower Holding Sub, LLC, whose only material assets are its equity interests in each of the Borrowers, and American Tower Guarantor Sub, LLC, whose only material asset is its equity interest in American Tower Holding Sub, LLC, each have guaranteed repayment of the Loan and pledged their equity interests in their respective subsidiary or subsidiaries as security for such payment obligations. American Tower Guarantor Sub, LLC, American Tower Holding Sub, LLC, the Depositor and the Borrowers each were formed as special purpose entities solely for purposes of entering a securitization transaction, and the assets and credit of these entities are not available to satisfy the debts and other obligations of the Company or any other person, except as set forth in the Loan Agreement. | ||||||||||||||||||
The Loan Agreement includes operating covenants and other restrictions customary for loans subject to rated securitizations. Among other things, the Borrowers are prohibited from incurring other indebtedness for borrowed money or further encumbering their assets subject to customary carve-outs for ordinary course trade payables and permitted encumbrances (as defined in the Loan Agreement). The organizational documents of the Borrowers contain provisions consistent with rating agency securitization criteria for special purpose entities, including the requirement that the Borrowers maintain at least two independent directors. The Loan Agreement also contains certain covenants that require the Borrowers to provide the trustee with regular financial reports and operating budgets, promptly notify the trustee of events of default and material breaches under the Loan Agreement and other agreements related to the Secured Towers, and allow the trustee reasonable access to the Secured Towers, including the right to conduct site investigations. | ||||||||||||||||||
A failure to comply with the covenants in the Loan Agreement could prevent the Borrowers from taking certain actions with respect to the Secured Towers, and could prevent the Borrowers from distributing any excess cash from the operation of the Secured Towers to the Company. If the Borrowers were to default on the Loan, the servicer could seek to foreclose upon or otherwise convert the ownership of the Secured Towers, in which case the Company could lose the Secured Towers and the revenue associated with those assets. | ||||||||||||||||||
Under the Loan Agreement, the Borrowers are required to maintain reserve accounts, including for ground rents, real estate and personal property taxes and insurance premiums, and to reserve a portion of advance rents from tenants on the Secured Towers. Based on the terms of the Loan Agreement, all rental cash receipts received for each month are reserved for the succeeding month and held in an account controlled by the trustee and then released. The $103.2 million held in the reserve accounts as of December 31, 2013 is classified as Restricted cash on the Company’s accompanying consolidated balance sheet. | ||||||||||||||||||
GTP Notes—In connection with the acquisition of MIPT, the Company assumed approximately $1.49 billion principal amount of existing indebtedness under the GTP Notes issued by certain subsidiaries of GTP in several securitization transactions. The Series 2010-1 notes were issued by GTP Towers Issuer, LLC (“GTP Towers”), the Series 2011-1 notes, Series 2011-2 notes and Series 2013-1 notes were issued by GTP Acquisition Partners I, LLC (“GTP Partners”) and the Series 2012-1 notes and Series 2012-2 notes were issued by GTP Cellular Sites, LLC (“GTP Cellular Sites,” and together with GTP Towers and GTP Partners, the “GTP Issuers”). The following table sets forth certain terms of the GTP Notes: | ||||||||||||||||||
GTP Notes | Issue Date | Original Principal Amount | Interest Rate | Anticipated Repayment Date | Final Maturity Date | |||||||||||||
(in thousands) | ||||||||||||||||||
Series 2010-1 Class C notes | February 17, 2010 | $200,000 | 4.436 | % | February 15, 2015 | February 15, 2040 | ||||||||||||
Series 2010-1 Class F notes | February 17, 2010 | $50,000 | 8.112 | % | February 15, 2015 | February 15, 2040 | ||||||||||||
Series 2011-1 Class C notes | March 11, 2011 | $70,000 | 3.967 | % | June 15, 2016 | June 15, 2041 | ||||||||||||
Series 2011-2 Class C notes | July 7, 2011 | $490,000 | 4.347 | % | June 15, 2016 | June 15, 2041 | ||||||||||||
Series 2011-2 Class F notes | July 7, 2011 | $155,000 | 7.628 | % | June 15, 2016 | June 15, 2041 | ||||||||||||
Series 2012-1 Class A notes (1) | February 28, 2012 | $100,000 | 3.721 | % | March 15, 2017 | March 15, 2042 | ||||||||||||
Series 2012-2 Class A notes (1) | February 28, 2012 | $114,000 | 4.336 | % | March 15, 2019 | March 15, 2042 | ||||||||||||
Series 2012-2 Class B notes | February 28, 2012 | $41,000 | 6.413 | % | March 15, 2019 | March 15, 2042 | ||||||||||||
Series 2012-2 Class C notes | February 28, 2012 | $27,000 | 7.358 | % | March 15, 2019 | March 15, 2042 | ||||||||||||
Series 2013-1 Class C notes | April 24, 2013 | $190,000 | 2.364 | % | May 15, 2018 | May 15, 2043 | ||||||||||||
Series 2013-1 Class F notes | April 24, 2013 | $55,000 | 4.704 | % | May 15, 2018 | May 15, 2043 | ||||||||||||
(1) Does not reflect MIPT’s repayment of approximately $1.4 million aggregate principal amount prior to the date of acquisition and the Company’s repayment of approximately $0.7 million aggregate principal amount after the date of acquisition in accordance with the repayment schedules. | ||||||||||||||||||
The GTP Notes may be prepaid in whole or in part at any time beginning two years after the date of issuance, provided such payment is accompanied by applicable prepayment consideration. If the prepayment occurs within six months of the anticipated repayment date, with respect to the Series 2010-1 notes, or one year of the anticipated repayment date with respect to the other GTP Notes, no prepayment consideration is due. | ||||||||||||||||||
As of December 31, 2013, the GTP Notes are secured by, among other things, an aggregate of 3,893 sites and 1,717 property interests owned by subsidiaries of the GTP Issuers and other related assets (the “GTP Secured Towers”). | ||||||||||||||||||
Amounts due under the GTP Notes will be paid from the cash flows generated by the GTP Secured Towers that secure the applicable series of GTP Notes. These funds in turn will be used to service the payment of interest on the applicable series of GTP Notes and for any other payments required by the indentures governing the GTP Notes (the “GTP Indentures”). | ||||||||||||||||||
On a monthly basis, after payment of all required amounts under the GTP Indentures, the excess cash flows generated from the operation of the GTP Secured Towers are released to the GTP Issuers, and can then be distributed to, and used by, the Company. The GTP Issuers must maintain a specified ratio with respect to their DSCR, calculated as the ratio of the net cash flow (as defined in the applicable GTP Indentures) to the amount of interest required to be paid over the succeeding twelve months on the principal amount of the GTP Notes that will be outstanding on the payment date following such date of determination, plus the amount of the payable trustee and servicing fees. If the DSCR with respect to any series of GTP Notes issued by GTP Towers or GTP Partners is equal to or below 1.30x (“GTP Cash Trap DSCR”) at the end of any calendar quarter and it continues for two consecutive calendar quarters, or if the DSCR with respect to any series of GTP Notes issued by GTP Cellular Sites is equal to or below the Cash Trap DSCR at the end of any calendar month and it continues for two consecutive calendar months, then all cash flow in excess of amounts required to make debt service payments, fund required reserves, pay management fees and budgeted operating expenses and make other payments required with respect to such series of GTP Notes under the GTP Indentures, will be deposited into reserve accounts instead of being released to the GTP Issuers. The funds in the reserve accounts will not be released to GTP Towers or GTP Partners for distribution to the Company unless the DSCR with respect to such series of GTP Notes exceeds the GTP Cash Trap DSCR for two consecutive calendar quarters. Likewise, the funds in the reserve account will not be released to GTP Cellular Sites for distribution to the Company unless the DSCR with respect to such series of GTP Notes exceeds the GTP Cash Trap DSCR for two consecutive calendar months. Additionally, an “amortization period,” commences as of the end of any calendar quarter with respect to the series of GTP Notes issued by GTP Towers and GTP Partners, and as of the end of any calendar month with respect to the series of GTP Notes issued by GTP Cellular Sites, if the DSCR of such series equals or falls below 1.15x (the “GTP Minimum DSCR”). The “amortization period” will continue to exist until the end of any calendar quarter with respect to the series of GTP Notes issued by GTP Towers and GTP Partners, for which the DSCR exceeds the GTP Minimum DSCR for two consecutive calendar quarters. Similarly, the “amortization period” will continue to exist until the end of any calendar month with respect to the series of GTP Notes issued by GTP Cellular Sites, for which the DSCR exceeds the GTP Minimum DSCR for two consecutive calendar months. During an amortization period all excess cash flow and any amounts then in the reserve accounts because the GTP Cash Trap DSCR was note met would be applied to payment of the principal of the applicable series of GTP Notes. | ||||||||||||||||||
The GTP Indentures include operating covenants and other restrictions customary for note offerings subject to rated securitizations. Among other things, the GTP Issuers are prohibited from incurring other indebtedness for borrowed money or further encumbering their assets subject to customary exceptions for ordinary course trade payables and permitted encumbrances (as defined in the GTP Indentures). The GTP Indentures also contain certain covenants that require the GTP Issuers to provide the trustee with regular financial reports, operating budgets and budgets for capital improvements not included in annual financial statements in accordance with GAAP, promptly notify the trustee of events of default and material breaches under the GTP Indentures and other agreements related to the GTP Secured Towers, and allow the trustee reasonable access to the GTP Secured Towers, including the right to conduct site investigations. | ||||||||||||||||||
A failure to comply with the covenants in the GTP Indentures could prevent the GTP Issuers from taking certain actions with respect to the GTP Secured Towers and could prevent the GTP Issuers from distributing excess cash flow to the Company. In addition, upon occurrence and during an event of default, the trustee may, in its discretion or at direction of holders of more than 50% of the aggregate outstanding principal of any series of GTP Notes, declare such series of GTP Notes immediately due and payable, in which case any excess cash flow would need to be used to pay holders of such GTP Notes. Furthermore, if the GTP Issuers were to default on a series of the GTP Notes, the trustee may demand, collect, take possession of, receive, settle, compromise, adjust, sue for, foreclose or realize upon all or any portion of the GTP Secured Towers securing such series, in which case GTP Issuers could lose the GTP Secured Towers and the revenue associated with those assets. | ||||||||||||||||||
Under the GTP Indentures, the GTP Issuers are required to maintain reserve accounts, including for amounts received or due from tenants related to future periods, property taxes, insurance, ground rents, certain expenses and debt service. The $26.8 million held in the reserve accounts as of December 31, 2013 is classified as Restricted cash on the accompanying consolidated balance sheets. | ||||||||||||||||||
Costa Rica Loan—In connection with the acquisition of MIPT, the Company assumed $32.6 million of secured debt in Costa Rica (the “Costa Rica Loan”). The interest rate under the Costa Rica Loan is the London Interbank Offered Rate (“LIBOR”) plus 5.50%, or 5.744% as of December 31, 2013. The loan agreement requires that the Company manage exposure to variability in interest rates on at least seventy percent of the amounts outstanding under the Costa Rica Loan. Accordingly, as of December 31, 2013, the Company holds three interest rate swap agreements with an aggregate notional value of $42.0 million with certain of the lenders under the Costa Rica Loan. After giving effect to the interest rate swap agreements, the facility accrues interest at a weighted average rate of 6.90%. On February 12, 2014, the Company repaid all amounts outstanding under the Costa Rica Loan and subsequently terminated the associated interest rate swap agreements. | ||||||||||||||||||
Unison Notes—In connection with the Unison acquisition, the Company assumed $196.0 million of existing indebtedness with an acquisition date fair value of $209.3 million under the Unison Notes issued by Unison Ground Lease Funding, LLC (the “Unison Issuer”) in a securitization transaction (the “Unison Securitization”). The three classes of Unison Notes bear interest at rates of 5.349%, 6.392% and 9.522%, respectively, with anticipated repayment dates of April 15, 2017, April 15, 2020 and April 15, 2020, respectively, and a final maturity date of April 15, 2040. | ||||||||||||||||||
The Unison Notes are secured by, among other things, liens on approximately 1,470 real property interests owned by two special purpose subsidiaries of the Unison Issuer (together with the Unison Issuer, the “Unison Obligors”) and other related assets. The indenture for the Unison Notes (the “Unison Indenture”) includes certain financial ratios and operating covenants and other restrictions customary for notes subject to rated securitizations. Among other things, the Unison Obligors are restricted from incurring other indebtedness or further encumbering their assets. | ||||||||||||||||||
Under the terms of the Unison Indenture, the Unison Notes will be paid from the cash flows generated by the communications sites subject to the Unison Securitization. The Unison Issuer is required to make monthly payments of interest to holders of the Unison Notes. On a monthly basis, cash flows in excess of amounts needed to make debt service payments and other payments required under the Unison Indenture are to be distributed to the Unison Issuer, which may then be distributed to, and used by, the Company. The Unison Issuer may prepay the Unison Notes in whole or in part at any time, provided such payment is accompanied by applicable prepayment consideration. If the prepayment occurs within six months of the anticipated repayment date, no prepayment consideration is due. | ||||||||||||||||||
A failure to comply with the covenants in the Unison Indenture could prevent the Unison Obligors from taking certain actions with respect to the property interests subject to the Unison Securitization and a failure to meet certain financial ratio tests could prevent excess cash flow from being distributed to the Unison Issuer. In addition, if the Unison Issuer were to default on the Unison Notes, the trustee could seek to foreclose upon the property interests subject to the Unison Securitization, in which case the Company could lose ownership of the property interests and the revenue associated with those property interests. | ||||||||||||||||||
Colombian Bridge Loans—In connection with the acquisition of communications sites in Colombia, one of the Company’s Colombian subsidiaries entered into five COP denominated bridge loans for an aggregate principal amount outstanding of 94.0 billion COP (approximately $48.8 million), and on August 6, 2013, entered into an additional 14.0 billion COP bridge loan (approximately $7.3 million). | ||||||||||||||||||
Mexican Loan—On November 1, 2013, in connection with the acquisition of towers in Mexico from NII, one of the Company’s Mexican subsidiaries entered into a 5.2 billion MXN denominated unsecured bridge loan (the “Mexican Loan”). On November 5, 2013, the Mexican subsidiary borrowed approximately 4.9 billion MXN (approximately $374.7 million). The Mexican subsidiary maintains the ability to draw down the remaining 0.3 billion MXN under the Mexican Loan until February 28, 2014. The Mexican Loan bears interest at a margin over the Equilibrium Interbank Interest Rate (“TIIE”). The interest rate will range between 0.25% and 1.50% above TIIE, pursuant to a schedule set forth in the credit agreement. As of December 31, 2013, the current margin over TIIE is 0.25%, which results in an interest rate of 4.040%. | ||||||||||||||||||
Ghana Loan—In connection with the establishment of the Company’s joint venture with MTN Group and acquisitions of communications sites in Ghana, Ghana Tower Interco B.V., a 51% owned subsidiary of the Company, entered into a U.S. Dollar-denominated shareholder loan agreement (“Ghana Loan”), as the borrower, with a wholly owned subsidiary of the Company (“ATC Ghana Subsidiary”) and a wholly owned subsidiary of MTN Ghana (the “MTN Ghana Subsidiary”), as the lenders. Pursuant to the terms of the Ghana Loan, loans were made to the joint venture in connection with the acquisition of communications sites from MTN Ghana. Pursuant to the loan agreement, accrued interest was periodically capitalized and added to the principal amount outstanding through November 2013. The portion of the loans made by the ATC Ghana Subsidiary is eliminated in consolidation and the portion of the loans made by the MTN Ghana Subsidiary is reported as outstanding debt of the Company. | ||||||||||||||||||
Uganda Loan—In connection with the establishment of the Company’s joint venture with MTN Group and acquisitions of communications sites in Uganda, Uganda Tower Interco B.V., a 51% owned subsidiary of the Company, entered into a U.S. Dollar-denominated shareholder loan agreement (the “Uganda Loan”), as the borrower, with a wholly owned subsidiary of the Company (the “ATC Uganda Subsidiary”) and a wholly owned subsidiary of MTN Uganda (the “MTN Uganda Subsidiary”), as the lenders. The Uganda Loan accrues interest at 5.30% above LIBOR, reset annually, which results in an interest rate of 5.984% as of December 31, 2013. Pursuant to the loan agreement, accrued interest is periodically capitalized and added to the principal amount outstanding through December 2014. The portion of the Uganda Loan made by the ATC Uganda Subsidiary is eliminated in consolidation, and the portion of the Uganda Loan made by the MTN Uganda Subsidiary is reported as outstanding debt of the Company. | ||||||||||||||||||
South African Facility—In connection with the Company’s expansion initiatives in South Africa, one of the Company’s South African subsidiaries (the “SA Borrower”) entered into a 1.2 billion ZAR denominated credit facility (the “South African Facility”) in November 2011. During the year ended December 31, 2013, the SA Borrower borrowed an additional 116.3 million ZAR (approximately $12.0 million) and repaid 23.8 million ZAR (approximately $2.5 million). On September 30, 2013, the SA Borrower’s ability to draw on the South African Facility expired. | ||||||||||||||||||
Principal and interest are payable quarterly in arrears with principal due in accordance with the repayment schedule included in the loan agreement. Outstanding principal and accrued but unpaid interest will be due and payable in full at maturity. Commencing twenty-four months after financial close, the South African Facility may be prepaid in whole or in part without prepayment consideration. | ||||||||||||||||||
The South African Facility is secured by, among other things, liens on towers owned by the SA Borrower. The loan agreement contains certain reporting, information, financial ratios and operating covenants. Failure to comply with certain of the financial and operating covenants would constitute a default, which could result in, among other things, the amounts outstanding, including all accrued interest and unpaid fees, becoming immediately due and payable. Under the terms of the South African Facility, interest is payable quarterly at a rate generally equal to 3.75% per annum, plus the three month Johannesburg Interbank Agreed Rate (“JIBAR”), which results in an interest rate of 8.967% as of December 31, 2013. The loan agreement requires that the SA Borrower manage exposure to variability in interest rates on at least fifty percent of the amounts outstanding under the South African Facility. Accordingly, as of December 31, 2013, the SA Borrower holds fifteen interest rate swap agreements with an aggregate notional value of 469.4 million ZAR (approximately $44.7 million) with certain of the lenders under the South African Facility. After giving effect to the interest rate swap agreements, the facility accrues interest at a weighted average rate of 9.89%. | ||||||||||||||||||
Colombian Long-Term Credit Facility—On October 19, 2012, one of the Company’s Colombian subsidiaries (“ATC Sitios”) entered into a loan agreement for a COP denominated long-term credit facility (the “Colombian Long-Term Credit Facility”), which it used to refinance the previously existing COP denominated short-term credit facility on November 30, 2012. | ||||||||||||||||||
Any outstanding principal and accrued but unpaid interest will be due and payable in full at maturity. The Colombian Long-Term Credit Facility may be prepaid in whole or in part, subject to certain limitations and prepayment consideration, at any time. | ||||||||||||||||||
Principal and interest are payable quarterly in arrears with principal due in accordance with the repayment schedule included in the loan agreement. Interest accrues at a per annum rate equal to 5.00% above the quarterly advanced Inter-bank Rate (“IBR”) in effect at the beginning of each Interest Period (as defined in the loan agreement), which results in an interest rate of 8.166% as of December 31, 2013. The loan agreement also requires that ATC Sitios manage exposure to variability in interest rates on at least fifty percent of the amounts outstanding under the Colombian Long-Term Credit Facility for the first four years of the loan, and seventy-five percent thereafter. Accordingly, ATC Sitios entered into an interest rate swap agreement with an aggregate notional value of 101.3 billion COP (approximately $52.5 million) with certain of the lenders under the Colombian Long-Term Credit Facility on December 5, 2012. As of December 31, 2013, the interest rate, after giving effect to the interest rate swap agreements, is 10.13%. | ||||||||||||||||||
The Colombian Long-Term Credit Facility is secured by, among other things, liens on towers owned by ATC Sitios. The loan agreement contains certain reporting, information, financial ratios and operating covenants. Failure to comply with certain of the financial and operating covenants would constitute a default, which could result in, among other things, the amounts outstanding, including all accrued interest and unpaid fees, becoming immediately due and payable. | ||||||||||||||||||
Colombian Loan—In connection with the establishment of the Company’s joint venture with Millicom and the acquisition of certain communications sites in Colombia, ATC Colombia B.V., a 60% owned subsidiary of the Company, entered into a U.S. Dollar-denominated shareholder loan agreement (the “Colombian Loan”), as the borrower, with the Company’s wholly owned subsidiary (the “ATC Colombian Subsidiary”), and a wholly owned subsidiary of Millicom (the “Millicom Subsidiary”), as the lenders. Pursuant to the loan agreement, accrued interest is periodically capitalized and added to the principal amount outstanding. The portion of the Colombian Loan made by the ATC Colombian Subsidiary is eliminated in consolidation, and the portion of the Colombian Loan made by the Millicom Subsidiary is reported as outstanding debt of the Company. During the year ended December 31, 2013, the Company borrowed an additional $16.0 million, resulting in $35.7 million outstanding at December 31, 2013. | ||||||||||||||||||
Indian Working Capital Facility—On April 29, 2013, one of the Company’s Indian subsidiaries (“ATC India”) entered into a working capital facility agreement (the “Indian Working Capital Facility”), which allows ATC India to borrow an amount not to exceed the Indian Rupee equivalent of $10.0 million. Any advances made pursuant to the Indian Working Capital Facility will be payable on the earlier of demand or six months following the borrowing date and the interest rate will be determined at the time of advance by the bank. ATC India has no amounts outstanding under the Indian Working Capital Facility. ATC India maintains the ability to draw down and repay amounts under the Indian Working Capital Facility in the ordinary course. | ||||||||||||||||||
2011 Credit Facility—On June 28, 2013, the Company terminated the $1.0 billion unsecured revolving credit facility entered into in April 2011 (the “2011 Credit Facility”) upon entering into a new credit facility in June 2013, as described below, at the Company’s option without penalty or premium. The 2011 Credit Facility was undrawn at the time of termination. The 2011 Credit Facility had a term of five years and would have matured on April 8, 2016. During the year ended December 31, 2013, the Company recorded a Loss on retirement of long-term obligations in the accompanying consolidated statements of operations of $2.7 million, related to the acceleration of the remaining deferred financing costs associated with the 2011 Credit Facility. | ||||||||||||||||||
2012 Credit Facility—On September 26, 2013, the Company borrowed $963.0 million under the $1.0 billion senior unsecured revolving credit facility entered into in January 2012 (the “2012 Credit Facility”) to partially fund its acquisition of MIPT. On October 29, 2013, the Company repaid $800.0 million under the 2012 Credit Facility using net proceeds from the term loan entered into in October 2013, as described below, and cash on hand. On December 30, 2013, the Company repaid an additional $75.0 million. In January 2014, the Company repaid all amounts outstanding with proceeds from a registered unsecured debt offering (see note 24). The Company maintains the ability to draw down and repay amounts under the 2012 Credit Facility in the ordinary course. | ||||||||||||||||||
The 2012 Credit Facility does not require amortization of principal and may be paid prior to maturity in whole or in part at the Company’s option without penalty or premium. The Company has the option of choosing either a defined base rate or LIBOR as the applicable base rate for borrowings under the 2012 Credit Facility. The interest rate ranges between 1.075% to 2.400% above LIBOR for LIBOR based borrowings or between 0.075% to 1.400% above the defined base rate for base rate borrowings, in each case based upon the Company’s debt ratings. A quarterly commitment fee on the undrawn portion of the 2012 Credit Facility is required, ranging from 0.125% to 0.450% per annum, based upon the Company’s debt ratings. The current margin over LIBOR that the Company incurs on borrowings is 1.625%, which results in an interest rate of 1.795% as of December 31, 2013. The current commitment fee on the undrawn portion of the 2012 Credit Facility is 0.225%. | ||||||||||||||||||
The loan agreement contains certain reporting, information, financial and operating covenants and other restrictions (including limitations on additional debt, guaranties, sales of assets and liens) with which the Company must comply. Any failure to comply with the financial and operating covenants of the loan agreement would not only prevent the Company from being able to borrow additional funds, but would constitute a default, which could result in, among other things, the amounts outstanding, including all accrued interest and unpaid fees, becoming immediately due and payable. | ||||||||||||||||||
On September 20, 2013, the Company entered into an amendment agreement with respect to the 2012 Credit Facility, which (i) amended the definition of “Total Debt” to be net of unrestricted domestic cash and cash equivalents and (ii) increased the permitted ratio of Total Debt to Adjusted EBITDA (as defined therein) from 6.00 to 1.00 to 6.50 to 1.00 from September 30, 2013 to September 30, 2014. | ||||||||||||||||||
On December 10, 2013, the Company entered into a second amendment agreement with respect to the 2012 Credit Facility. The second amendment (i) increased the limitation on indebtedness of, and guaranteed by, its subsidiaries from $600 million in the aggregate to $800 million in the aggregate, (ii) added a representation and warranty and a covenant regarding the Company and its subsidiaries’ compliance with sanctions laws and regulations, (iii) provided that compliance with the interest expense ratio is only required in the event that the Company’s debt ratings are below investment grade and (iv) increased the threshold for certain defaults with respect to judgments, attachments or acceleration of indebtedness from $200 million to $250 million. | ||||||||||||||||||
As of December 31, 2013, the Company has approximately $7.5 million of undrawn letters of credit under the 2012 Credit Facility. | ||||||||||||||||||
2013 Credit Facility—On June 28, 2013, the Company entered into its $1.5 billion senior unsecured revolving credit facility, which was subsequently increased to $2.0 billion (the “2013 Credit Facility”). The 2013 Credit Facility initially allowed the Company to borrow up to $1.5 billion, and includes a $1.0 billion sublimit for multicurrency borrowings, a $200.0 million sublimit for letters of credit, a $50.0 million sublimit for swingline loans and an expansion option allowing the Company to request additional commitments of up to $500.0 million, which the Company exercised on September 20, 2013. | ||||||||||||||||||
The 2013 Credit Facility has a term of five years and includes two one-year renewal periods at the Company’s option. Any outstanding principal and accrued but unpaid interest will be due and payable in full at final maturity. The 2013 Credit Facility does not require amortization of principal and may be paid prior to maturity in whole or in part at the Company’s option without penalty or premium. | ||||||||||||||||||
The Company has the option of choosing either a defined base rate or LIBOR as the applicable base rate for borrowings under the 2013 Credit Facility. The interest rate ranges between 1.125% to 2.000% above LIBOR for LIBOR based borrowings or between 0.125% to 1.000% above the defined base rate for base rate borrowings, in each case based upon the Company’s debt ratings. A quarterly commitment fee on the undrawn portion of the 2013 Credit Facility is required, ranging from 0.125% to 0.400% per annum, based upon the Company’s debt ratings. The current margin over LIBOR that the Company incurs on borrowings is 1.250%, which results in an interest rate of 1.420% as of December 31, 2013. The current commitment fee on the undrawn portion of the new credit facility is 0.150%. | ||||||||||||||||||
The loan agreement contains certain reporting, information, financial and operating covenants and other restrictions (including limitations on additional debt, guaranties, sales of assets and liens) with which the Company must comply. Any failure to comply with the financial and operating covenants of the loan agreement would not only prevent the Company from being able to borrow additional funds, but would constitute a default, which could result in, among other things, the amounts outstanding, including all accrued interest and unpaid fees, becoming immediately due and payable. | ||||||||||||||||||
On September 20, 2013, the Company entered into an amendment agreement with respect to the 2013 Credit Facility, which (i) amended the definition of “Total Debt” to be net of unrestricted domestic cash and cash equivalents, (ii) increased the permitted ratio of Total Debt to Adjusted EBITDA (as defined therein) from 6.00 to 1.00 to 6.50 to 1.00 from September 30, 2013 to September 30, 2014 and (iii) added an additional expansion feature permitting the Company to request an additional increase of the commitments under the 2013 Credit Facility from time to time up to an aggregate additional $750.0 million, including in the form of a term loan, from any of the lenders or other eligible lenders that elect to make such increases available, upon the satisfaction of certain conditions. | ||||||||||||||||||
On September 26, 2013, the Company borrowed $1,853.0 million under the 2013 Credit Facility to partially fund its acquisition of MIPT (see note 6). In January 2014, the Company used proceeds from a registered unsecured debt offering (see note 24), together with cash on hand, to repay $710.0 million of existing indebtedness and as a result, the Company has $1,143.0 million outstanding under the 2013 Credit Facility. The Company maintains the ability to draw down and repay amounts under the 2013 Credit Facility in the ordinary course. | ||||||||||||||||||
As of December 31, 2013, the Company has approximately $2.8 million of undrawn letters of credit under the 2013 Credit Facility. | ||||||||||||||||||
Short-Term Credit Facility—On September 20, 2013, the Company entered into a $1.0 billion senior unsecured revolving credit facility (the “Short-Term Credit Facility”). The Short-Term Credit Facility does not require amortization of payments and may be repaid prior to maturity in whole or in part at the Company’s option without penalty or premium. The unutilized portion of the commitments under the Short-Term Credit Facility may be irrevocably reduced or terminated by the Company in whole or in part without penalty. The Short-Term Credit Facility matures on September 19, 2014. | ||||||||||||||||||
Amounts borrowed under the Short-Term Credit Facility will bear interest, at the Company’s option, at a margin above LIBOR or the defined base rate. For LIBOR based borrowings, interest rates will range from 1.125% to 2.000% above LIBOR. For base rate borrowings, interest rates will range from 0.125% to 1.000% above the defined base rate. In each case, the applicable margin is based upon the Company’s debt ratings. In addition, the loan agreement provides for a quarterly commitment fee on the undrawn portion of the Short-Term Credit Facility ranging from 0.125% to 0.400% per annum, based upon the Company’s debt ratings. The current margin over LIBOR that the Company would incur (should it choose LIBOR) on borrowings is 1.250% and the current commitment fee on the undrawn portion is 0.150%. | ||||||||||||||||||
The loan agreement contains certain reporting, information, financial and operating covenants and other restrictions (including limitations on additional debt, guaranties, sales of assets and liens) with which the Company must comply. Any failure to comply with the financial and operating covenants would not only prevent the Company from being able to borrow additional funds, but would constitute a default, which could result in, among other things, the amounts outstanding, including all accrued interest and unpaid fees, becoming immediately due and payable. | ||||||||||||||||||
The Company has no amounts outstanding under the Short-Term Credit Facility as of December 31, 2013. The Company maintains the ability to draw down and repay amounts under the Short-Term Credit Facility in the ordinary course. | ||||||||||||||||||
2012 Term Loan—On June 29, 2012, the Company entered into a $750.0 million unsecured term loan (“2012 Term Loan”). On October 29, 2013, the Company repaid the 2012 Term Loan upon entering into the $1.5 billion unsecured term loan (the “2013 Term Loan”), prior to its maturity without penalty or premium. The 2012 Term Loan had a term of five years and would have matured on June 29, 2017. On September 20, 2013, the Company entered into an amendment agreement with respect to the 2012 Term Loan, which (i) amended the definition of “Total Debt” to be net of unrestricted domestic cash and cash equivalents and (ii) increased the permitted ratio of Total Debt to Adjusted EBITDA (as defined therein) from 6.00 to 1.00 to 6.50 to 1.00. | ||||||||||||||||||
2013 Term Loan—On October 29, 2013, the Company entered into the 2013 Term Loan and together with cash on hand, repaid all amounts outstanding under the 2012 Term Loan and $800.0 million of outstanding indebtedness under the 2012 Credit Facility. The 2013 Term Loan includes an expansion option allowing the Company to request additional commitments of up to $500 million. | ||||||||||||||||||
Any outstanding principal and accrued but unpaid interest will be due and payable in full at maturity. The 2013 Term Loan may be paid prior to maturity in whole or in part at our option without penalty or premium. The Company has the option of choosing either a defined base rate or LIBOR as the applicable base rate. The interest rate ranges between 1.125% to 2.250% above LIBOR or between 0.125% to 1.250% above the defined base rate, in each case based upon our debt ratings. The current margin over LIBOR is 1.25%, which results in an interest rate of 1.420% as of December 31, 2013. | ||||||||||||||||||
The loan agreement contains certain reporting, information, financial and operating covenants and other restrictions (including limitations on additional debt, guaranties, sales of assets and liens) with which the Company must comply. Any failure to comply with the financial and operating covenants of the loan agreement would constitute a default, which could result in, among other things, the amounts outstanding, including all accrued interest and unpaid fees, becoming immediately due and payable. | ||||||||||||||||||
Outstanding Senior Notes | ||||||||||||||||||
3.50% Senior Notes Offering—On January 8, 2013, the Company completed a registered public offering of $1.0 billion aggregate principal amount of 3.50% senior unsecured notes due 2023 (the “3.50% Notes”). The net proceeds from the offering were approximately $983.4 million, after deducting commissions and expenses. The Company used $265.0 million of the net proceeds to repay the outstanding indebtedness under the 2011 Credit Facility and $718.4 million to repay a portion of the outstanding indebtedness incurred under the 2012 Credit Facility. | ||||||||||||||||||
Interest is payable semi-annually in arrears on January 31 and July 31 of each year, commencing on July 31, 2013. Interest on the notes began to accrue on January 8, 2013 and is computed on the basis of a 360-day year comprised of twelve 30-day months. | ||||||||||||||||||
3.40% Senior Notes and 5.00% Senior Notes Offering—On August 19, 2013, the Company completed a registered public offering for $750.0 million aggregate principal amount of 3.40% senior unsecured notes due 2019 (the “3.40% Notes”) and $500.0 million aggregate principal amount of 5.00% senior unsecured notes due 2024 (the “5.00% Notes”). The net proceeds from the offering were approximately $1,238.7 million, after deducting commissions and estimated expenses. The Company used a portion of the proceeds to repay outstanding indebtedness under the 2013 Credit Facility. | ||||||||||||||||||
On January 10, 2014, the Company completed a registered public offering of $250.0 million principal amount of reopened 3.40% Notes and $500.0 million principal amount of reopened 5.00% Notes (see note 24). | ||||||||||||||||||
Accrued and unpaid interest on the 3.40% Notes and the 5.00% Notes is payable semi-annually in arrears on February 15 and August 15 of each year, commencing on February 15, 2014. Interest on the 3.40% Notes and the 5.00% Notes began to accrue from August 19, 2013 and is computed on the basis of a 360-day year comprised of twelve 30-day months. | ||||||||||||||||||
The following table outlines key terms related to the Company’s outstanding senior notes as of December 31, 2013: | ||||||||||||||||||
Unamortized (Discount) | ||||||||||||||||||
Aggregate Principal Amount | 2013 | 2012 | Semi-annual interest | Issue Date | Maturity Date | |||||||||||||
payments due | ||||||||||||||||||
(in thousands) | ||||||||||||||||||
4.625% Notes | $ | 600,000 | $ | (206 | ) | $ | (362 | ) | April 1 and October 1 | 20-Oct-09 | April 1, 2015 | |||||||
7.00% Notes | 500,000 | — | — | April 15 and October 15 | 1-Oct-07 | October 15, 2017 | ||||||||||||
4.50% Notes | 1,000,000 | (480 | ) | (586 | ) | January 15 and July 15 | 7-Dec-10 | January 15, 2018 | ||||||||||
3.40 % Notes | 750,000 | (627 | ) | — | February 15 and August 15 | 19-Aug-13 | February 15, 2019 | |||||||||||
7.25% Notes | 300,000 | (3,252 | ) | (3,728 | ) | May 15 and November 15 | 10-Jun-09 | May 15, 2019 | ||||||||||
5.05% Notes | 700,000 | (587 | ) | (667 | ) | March 1 and September 1 | 16-Aug-10 | September 1, 2020 | ||||||||||
5.90% Notes | 500,000 | (586 | ) | (644 | ) | May 1 and November 1 | 6-Oct-11 | November 1, 2021 | ||||||||||
4.70% Notes | 700,000 | (1,129 | ) | (1,240 | ) | March 15 and September 15 | 12-Mar-12 | March 15, 2022 | ||||||||||
3.50% Notes | 1,000,000 | (7,480 | ) | — | January 31 and July 31 | 8-Jan-13 | January 31, 2023 | |||||||||||
5.00% Notes | 500,000 | (545 | ) | — | February 15 and August 15 | 19-Aug-13 | February 15, 2024 | |||||||||||
The Company may redeem each of the series of senior notes at any time at a redemption price equal to 100% of the principal amount of such notes, plus a make-whole premium, together with accrued interest to the redemption date. Each of the applicable indentures, including any supplemental indentures (the “Indentures”) for the notes contain certain covenants that restrict the Company’s ability to merge, consolidate or sell assets and its (together with its subsidiaries’) ability to incur liens. These covenants are subject to a number of exceptions, including that the Company and its subsidiaries may incur certain liens on assets, mortgages or other liens securing indebtedness, if the aggregate amount of such liens shall not exceed 3.5x Adjusted EBITDA, as defined in the applicable Indenture for each of the notes. If the Company undergoes a change of control and ratings decline, each as defined in the Indentures, the Company may be required to repurchase one or more series of notes at a purchase price equal to 101% of the principal amount, plus accrued and unpaid interest (including additional interest, if any) up to, but not including, the date of repurchase. The notes rank equally with all of the Company’s other senior unsecured debt and are structurally subordinated to all existing and future indebtedness and other obligations of the Company’s subsidiaries. | ||||||||||||||||||
Capital Lease and Other Obligations—The Company’s capital lease and other obligations approximated $73.4 million and $57.3 million as of December 31, 2013 and 2012, respectively. These obligations are secured by the related assets, bear interest at rates of 2.57% to 8.00%, and mature in periods ranging from less than one year to approximately seventy years. | ||||||||||||||||||
Maturities—As of December 31, 2013, aggregate principal maturities of long-term debt, including capital leases, for the next five years and thereafter are expected to be (in thousands): | ||||||||||||||||||
Year Ending December 31, | ||||||||||||||||||
2014 | $ | 70,132 | ||||||||||||||||
2015 | 1,252,591 | |||||||||||||||||
2016 | 912,402 | |||||||||||||||||
2017 | 787,297 | |||||||||||||||||
2018 | 3,643,836 | |||||||||||||||||
Thereafter | 7,769,480 | |||||||||||||||||
Total cash obligations | 14,435,738 | |||||||||||||||||
Unamortized discounts and premiums, net | 42,540 | |||||||||||||||||
Balance as of December 31, 2013 | $ | 14,478,278 | ||||||||||||||||
Other_NonCurrent_Liabilities
Other Non-Current Liabilities | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Liabilities, Noncurrent [Abstract] | ' | |||||||
Other Non-Current Liabilities | ' | |||||||
OTHER NON-CURRENT LIABILITIES | ||||||||
Other non-current liabilities consists of the following as of December 31, (in thousands): | ||||||||
2013 | 2012 (1) | |||||||
Unearned revenue | $ | 278,295 | $ | 164,032 | ||||
Deferred rent liability | 273,318 | 254,494 | ||||||
Other miscellaneous liabilities | 271,145 | 225,575 | ||||||
Balance as of December 31, | $ | 822,758 | $ | 644,101 | ||||
-1 | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. |
Asset_Retirement_Obligations
Asset Retirement Obligations | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Asset Retirement Obligation [Abstract] | ' | |||||||
Asset Retirement Obligations | ' | |||||||
ASSET RETIREMENT OBLIGATIONS | ||||||||
The changes in the carrying value of the Company’s asset retirement obligations are as follows (in thousands): | ||||||||
2013 | 2012 (1) | |||||||
Beginning balance as of January 1, | $ | 435,624 | $ | 344,180 | ||||
Additions | 94,651 | 59,747 | ||||||
Accretion expense | 34,045 | 25,056 | ||||||
Revisions in estimates (2) | (36,492 | ) | 6,641 | |||||
Settlements | (959 | ) | — | |||||
Balance as of December 31, | $ | 526,869 | $ | 435,624 | ||||
-1 | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. | |||||||
-2 | For the year ended December 31, 2013, revisions in estimates include the impact of approximately $19.8 million of foreign currency translation. | |||||||
As of December 31, 2013, the estimated undiscounted future cash outlay for asset retirement obligations is approximately $1.8 billion. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Summary of Derivative Instruments [Abstract] | ' | |||||||||
Derivative Financial Instruments | ' | |||||||||
DERIVATIVE FINANCIAL INSTRUMENTS | ||||||||||
The Company is exposed to certain risks related to its ongoing business operations. The primary risk managed through the use of derivative instruments is interest rate risk. From time to time, the Company enters into interest rate protection agreements to manage exposure to variability in cash flows relating to forecasted interest payments. Under these agreements, the Company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract. The Company’s credit risk exposure is limited to the current value of the contract at the time the counterparty fails to perform. | ||||||||||
If a derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in Accumulated other comprehensive loss and are recognized in the results of operations when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges are recognized immediately in the results of operations. For derivative instruments not designated as hedging instruments, changes in fair value are recognized in the results of operations in the period in which the change occurs. | ||||||||||
The Company, through certain of its foreign subsidiaries, has entered into interest rate swap agreements to manage its exposure to variability in interest rates on debt in Colombia and South Africa. These interest rate swap agreements have been designated as cash flow hedges. During the year ended December 31, 2013, the Company assumed three interest rate swap agreements in Costa Rica related to the Costa Rica Loan in connection with the MIPT acquisition. These interest rate swap agreements were designated as cash flow hedges and were subsequently terminated upon repayment of the Costa Rica Loan. | ||||||||||
South Africa | ||||||||||
The Company’s South African subsidiary has fifteen interest rate swap agreements outstanding in South Africa, which mature on the earlier of termination of the underlying debt or March 31, 2020. The interest rate swap agreements provide that the Company pay a fixed interest rate ranging from 6.09% to 7.83% and receive variable interest at the three-month JIBAR over the term of the interest rate swap agreements. The notional value is reduced in accordance with the repayment schedule under the South African Facility. | ||||||||||
Colombia | ||||||||||
The Company’s Colombian subsidiary has one interest rate swap agreement outstanding in Colombia, which matures on the earlier of termination of the underlying debt or November 30, 2020. The interest rate swap agreement provides that the Company pay a fixed interest rate of 5.78% and receive variable interest at the one-month IBR over the term of the interest rate swap agreement. The notional value is reduced in accordance with the repayment schedule under the Colombian Long-Term Credit Facility. | ||||||||||
Costa Rica | ||||||||||
As of December 31, 2013, the Company’s Costa Rican subsidiary has three interest rate swap agreements in Costa Rica, which mature on the earlier of termination of the underlying debt or February 16, 2019. The interest rate swap agreements provide that the Company pay a fixed interest rate ranging from 1.62% to 2.41% and receive variable interest at the three-month LIBOR rate over the term of the interest rate swap agreements. | ||||||||||
The notional value and fair value of the interest rate swap agreements are as follows (in thousands): | ||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||
Local | USD | Local | USD | |||||||
South Africa (ZAR) | ||||||||||
Notional | 469,354 | 44,732 | 423,634 | 49,995 | ||||||
Fair Value | 939 | 90 | (20,441 | ) | (2,412 | ) | ||||
Colombia (COP) | ||||||||||
Notional | 101,250,000 | 52,547 | 101,250,000 | 57,261 | ||||||
Fair Value | (3,000,236 | ) | (1,557 | ) | (5,356,377 | ) | (3,029 | ) | ||
Costa Rica (USD) | ||||||||||
Notional | 42,000 | |||||||||
Fair Value | (628 | ) | ||||||||
As of December 31, 2013, the South African interest rate swap agreements are in an asset position and are included in Notes receivable and other non-current assets on the consolidated balance sheets. The remaining interest rate swap agreements are in liability positions and are included in Other non-current liabilities on the consolidated balance sheets. | ||||||||||
During the years ended December 31, 2013, 2012 and 2011, the interest rate swap agreements had the following impact on the Company’s consolidated financial statements (in thousands): | ||||||||||
Year Ended December 31, | Gain(Loss) Recognized in OCI - Effective Portion | Gain(Loss) | Location of Gain(Loss) Reclassified from Accumulated OCI into Income- Effective Portion | Gain(Loss) Recognized | Location of Gain(Loss) Recognized in Income - | |||||
Reclassified from | in Income - Ineffective Portion | Ineffective Portion | ||||||||
Accumulated OCI into | ||||||||||
Income - | ||||||||||
Effective Portion | ||||||||||
2013 | $1,481 | ($2,809) | Interest Expense | N/A | N/A | |||||
2012 | ($6,220) | ($1,340) | Interest Expense | N/A | N/A | |||||
2011 | ($228) | ($2,205) | Interest Expense | N/A | N/A | |||||
As of December 31, 2013, $1.9 million of the amount related to derivatives designated as cash flow hedges and recorded in Accumulated other comprehensive loss is expected to be reclassified into earnings in the next twelve months. | ||||||||||
In addition to the interest rate swap agreements above, the Company is amortizing the settlement cost of a treasury rate lock as additional interest expense over the term of the 7.00% senior unsecured notes due 2017. For the years ended December 31, 2013, 2012 and 2011, the Company reclassified $0.8 million, $0.8 million and $0.5 million (net of tax of $0.3 million in 2011), respectively, from OCI into Interest expense in the accompanying consolidated statements of operations. | ||||||||||
The Company also recognized a gain on the settlement of interest rate swap agreements entered into in connection with the 2007 Securitization. The settlement was recognized as a reduction in interest expense over a five-year period for which the interest rate swaps were designated as hedges. During the years ended December 31, 2012 and 2011, the Company recorded $0.2 million and $0.4 million (net of tax of $0.2 million in 2011), respectively, as a reduction in interest expense. The remaining portion of the gain was fully amortized during the year ended December 31, 2012. | ||||||||||
In connection with the Company’s conversion to a REIT, as of December 31, 2011 the Company reversed the deferred tax assets and liabilities related to certain of its subsidiaries. Accordingly, approximately $1.8 million of deferred tax assets associated with the deferred loss on the settlement of the treasury rate lock and the deferred gain on the settlement of the interest rate swap agreement entered into in connection with the Securitization were reclassified to other comprehensive income. | ||||||||||
For additional information on the Company’s interest rate swap agreements, see notes 12 and 13. |
Fair_Value_Measurements
Fair Value Measurements | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Fair Value Measurements | ' | ||||||||||||||||
FAIR VALUE MEASUREMENTS | |||||||||||||||||
The Company determines the fair value of its financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. Below are the three levels of inputs that may be used to measure fair value: | |||||||||||||||||
Level 1 | Quoted prices in active markets for identical assets or liabilities that the Company has the ability to access at the measurement date. | ||||||||||||||||
Level 2 | Observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. | ||||||||||||||||
Level 3 | Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. | ||||||||||||||||
Items Measured at Fair Value on a Recurring Basis—The fair value of the Company’s financial assets and liabilities that is required to be measured at fair value on a recurring basis is as follows (in thousands): | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Fair Value Measurements Using | Assets/Liabilities | ||||||||||||||||
Level 1 | Level 2 | Level 3 | at Fair Value | ||||||||||||||
Assets: | |||||||||||||||||
Short-term investments (1) | $ | 18,612 | $ | 18,612 | |||||||||||||
Interest rate swap agreements | $ | 90 | $ | 90 | |||||||||||||
Liabilities: | |||||||||||||||||
Acquisition-related contingent consideration | $ | 31,890 | $ | 31,890 | |||||||||||||
Interest rate swap agreements | $ | 2,185 | $ | 2,185 | |||||||||||||
31-Dec-12 | |||||||||||||||||
Fair Value Measurements Using | Assets/Liabilities | ||||||||||||||||
Level 1 | Level 2 | Level 3 | at Fair Value | ||||||||||||||
Assets: | |||||||||||||||||
Short-term investments (1) | $ | 6,018 | $ | 6,018 | |||||||||||||
Liabilities: | |||||||||||||||||
Acquisition-related contingent consideration | $ | 23,711 | $ | 23,711 | |||||||||||||
Interest rate swap agreements | $ | 5,442 | $ | 5,442 | |||||||||||||
(1) Consists of highly liquid investments with original maturities in excess of three months. | |||||||||||||||||
Interest Rate Swap Agreements | |||||||||||||||||
The fair value of the Company’s interest rate swap agreements is determined using pricing models with inputs that are observable in the market or can be derived principally from, or corroborated by, observable market data. Fair valuations of the interest rate swap agreements reflect the value of the instrument including the values associated with counterparty risk, the Company’s own credit standing and the value of the net credit differential between the counterparties to the derivative contract. | |||||||||||||||||
Acquisition-Related Contingent Consideration | |||||||||||||||||
The Company may be required to pay additional consideration under certain agreements for the acquisition of communications sites if specific conditions are met or events occur. In Colombia and Ghana, the Company may be required to pay additional consideration upon the conversion of certain barter agreements with other wireless carriers to cash-paying lease agreements. In addition, as a result of the MIPT acquisition on October 1, 2013, the Company assumed additional contingent consideration liability in Costa Rica, Panama and the United States. The Company may be required to pay additional consideration if certain pre-designated tenant leases commence during a limited specified period of time. | |||||||||||||||||
Acquisition-related contingent consideration is initially measured and recorded at fair value as an element of consideration paid in connection with an acquisition with subsequent adjustments recognized in Other operating expenses in the consolidated statements of operations. The Company determines the fair value of acquisition-related contingent consideration, and any subsequent changes in fair value using a discounted probability-weighted approach. This approach takes into consideration Level 3 unobservable inputs including probability assessments of expected future cash flows over the period in which the obligation is expected to be settled and applies a discount factor that captures the uncertainties associated with the obligation. Changes in these unobservable inputs could significantly impact the fair value of the liabilities recorded in the accompanying consolidated balance sheets and Operating expenses in the consolidated statements of operations. | |||||||||||||||||
As of December 31, 2013, the Company estimates the value of all potential acquisition-related contingent consideration required payments to be between zero and $50.1 million. During the years ended December 31, 2013 and 2012, the fair value of the contingent consideration changed as follows (in thousands): | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance as of January 1 | $ | 23,711 | $ | 25,617 | |||||||||||||
Additions (1) | 13,474 | 6,653 | |||||||||||||||
Payments | (8,789 | ) | (15,716 | ) | |||||||||||||
Change in fair value | 5,743 | 6,329 | |||||||||||||||
Foreign currency translation adjustment | (2,249 | ) | 828 | ||||||||||||||
Balance as of December 31 | $ | 31,890 | $ | 23,711 | |||||||||||||
(1) Approximately $9.3 million of the additions to contingent consideration liability relates to the MIPT acquisition. | |||||||||||||||||
Items Measured at Fair Value on a Nonrecurring Basis—The Company’s long-lived assets are measured at fair value on a nonrecurring basis using Level 3 inputs. During the year ended December 31, 2013, certain long-lived assets held and used with a carrying value of $8,554.5 million were written down to their net realizable value of $8,538.6 million as a result of an asset impairment charge of $15.9 million. During the year ended December 31, 2012, long-lived assets held and used with a carrying value of $5,379.2 million were written down to their net realizable value of $5,357.7 million, as a result of an asset impairment charge of $21.5 million. The asset impairment charges are recorded in Other operating expenses in the accompanying consolidated statements of operations. These adjustments were determined by comparing the estimated proceeds from the sale of assets or the projected future discounted cash flows to be provided from the long-lived assets to the asset’s carrying value. There were no other items measured at fair value on a nonrecurring basis during the year ended December 31, 2013. | |||||||||||||||||
Fair Value of Financial Instruments—The carrying value of the Company’s financial instruments that reasonably approximate fair value at December 31, 2013 and 2012 includes cash and cash equivalents, restricted cash, accounts receivable and accounts payable. The Company’s estimates of fair value of its long-term obligations, including the current portion, are based primarily upon reported market values. For long-term debt not actively traded, fair value was estimated using a discounted cash flow analysis using rates for debt with similar terms and maturities. As of December 31, 2013, the carrying value and fair value of long-term obligations, including the current portion, are $14.5 billion and $14.7 billion, respectively, of which $8.6 billion is measured using Level 1 inputs and $6.1 billion is measured using Level 2 inputs. As of December 31, 2012, the carrying value and fair value of long-term obligations, including the current portion, were $8.8 billion and $9.4 billion, respectively, of which $4.9 billion was measured using Level 1 inputs and $4.5 billion was measured using Level 2 inputs. |
Accumulated_Other_Comprehensiv
Accumulated Other Comprehensive Loss | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||
Accumulated Other Comprehensive Loss | ' | |||||||||||||||
ACCUMULATED OTHER COMPREHENSIVE LOSS | ||||||||||||||||
The changes in Accumulated other comprehensive loss for the year ended December 31, 2013 are as follows (in thousands): | ||||||||||||||||
Unrealized Losses on Cash Flow Hedges (1) | Deferred Loss on the Settlement of the Treasury Rate Lock | Foreign | Total | |||||||||||||
Currency | ||||||||||||||||
Items | ||||||||||||||||
Balance as of January 1, 2013 | $ | (4,358 | ) | $ | (3,827 | ) | $ | (175,162 | ) | $ | (183,347 | ) | ||||
Other comprehensive income (loss) before reclassifications, net of tax | 867 | — | (131,160 | ) | (130,293 | ) | ||||||||||
Amounts reclassified from accumulated other comprehensive loss, net of tax | 1,622 | 798 | — | 2,420 | ||||||||||||
Net current-period other comprehensive income (loss) | 2,489 | 798 | (131,160 | ) | (127,873 | ) | ||||||||||
Balance as of December 31, 2013 | $ | (1,869 | ) | $ | (3,029 | ) | $ | (306,322 | ) | $ | (311,220 | ) | ||||
(1) Losses on cash flow hedges have been reclassified into interest expense in the accompanying consolidated statements of operations. The tax effect of approximately $0.2 million is included in income tax expense for the year ended December 31, 2013. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | |||||||||||
Income Taxes | ' | |||||||||||
INCOME TAXES | ||||||||||||
The Company has filed, for prior taxable years through its taxable year ended December 31, 2011, a consolidated U.S. federal tax return, which included all of its then wholly owned domestic subsidiaries. For its taxable year commencing January 1, 2012, the Company filed, and intends to continue to file, as a REIT, and its domestic TRSs filed, and intend to continue to file, as C corporations. The Company also files tax returns in various states and countries. The Company’s state tax returns reflect different combinations of the Company’s subsidiaries and are dependent on the connection each subsidiary has with a particular state. The following information pertains to the Company’s income taxes on a consolidated basis. | ||||||||||||
The income tax provision from continuing operations is comprised of the following for the years ended December 31, (in thousands): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | (30,322 | ) | $ | (18,170 | ) | $ | (14,069 | ) | |||
State | (13,731 | ) | (6,321 | ) | (19,346 | ) | ||||||
Foreign | (44,973 | ) | (53,513 | ) | (34,813 | ) | ||||||
Deferred: | ||||||||||||
Federal | (16,318 | ) | (13,094 | ) | (81,685 | ) | ||||||
State | (5,139 | ) | (666 | ) | (12,001 | ) | ||||||
Foreign | 50,942 | (15,540 | ) | 36,834 | ||||||||
Income tax provision | $ | (59,541 | ) | $ | (107,304 | ) | $ | (125,080 | ) | |||
The income tax provision for the year ended December 31, 2011 is net of the deferred tax benefit due to the Company’s conversion to a REIT of approximately $121 million. The income tax provision for the year ended December 31, 2013 includes an expense of approximately $21.5 million resulting from a restructuring of certain of the Company’s domestic TRSs. | ||||||||||||
The domestic and foreign components of income from continuing operations before income taxes and income on equity method investments are as follows for the years ended December 31, (in thousands): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
United States | $ | 766,772 | $ | 787,960 | $ | 608,936 | ||||||
Foreign | (225,023 | ) | (86,666 | ) | (102,041 | ) | ||||||
Total | $ | 541,749 | $ | 701,294 | $ | 506,895 | ||||||
For the year ended December 31, 2011, the Company recorded an income tax expense of $125.1 million, net of a benefit due to the adjustment of approximately $121 million in deferred tax liabilities (net of deferred tax assets) the values of which were reduced as a result of its conversion to a REIT. A reconciliation between the U.S. statutory rate and the effective rate from continuing operations is as follows for the years ended December 31: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
Tax adjustment related to REIT (1) | (35 | ) | (35 | ) | — | |||||||
State taxes, net of federal benefit | 3 | 1 | 6 | |||||||||
Foreign taxes | (5 | ) | 4 | 3 | ||||||||
Foreign withholding taxes | 6 | 4 | 2 | |||||||||
Deferred tax adjustment due to REIT conversion | — | — | (24 | ) | ||||||||
Domestic TRS restructuring | 4 | — | — | |||||||||
Change in valuation allowance | — | 8 | — | |||||||||
Other | 3 | (2 | ) | 3 | ||||||||
Effective tax rate | 11 | % | 15 | % | 25 | % | ||||||
(1) Includes 28% and 18% from dividend paid deductions in 2013 and 2012, respectively. | ||||||||||||
The components of the net deferred tax asset and related valuation allowance are as follows as of December 31, (in thousands): | ||||||||||||
2013 | 2012 | |||||||||||
Current assets: | ||||||||||||
Allowances, accruals and other items not currently deductible | $ | 28,077 | $ | 31,561 | ||||||||
Current deferred liabilities | (4,547 | ) | (2,509 | ) | ||||||||
Subtotal | 23,530 | 29,052 | ||||||||||
Valuation allowance | (3,638 | ) | (3,298 | ) | ||||||||
Net current deferred tax assets | $ | 19,892 | $ | 25,754 | ||||||||
Non-current items: | ||||||||||||
Assets: | ||||||||||||
Net operating loss carryforwards | 197,335 | 127,914 | ||||||||||
Accrued asset retirement obligations | 85,627 | 70,797 | ||||||||||
Stock-based compensation | 4,331 | 25,258 | ||||||||||
Unearned revenue | 46,788 | 21,912 | ||||||||||
Unrealized loss on foreign currency | 68,951 | 33,010 | ||||||||||
Items not currently deductible and other | 23,877 | 22,914 | ||||||||||
Liabilities: | ||||||||||||
Depreciation and amortization | (114,005 | ) | (42,896 | ) | ||||||||
Deferred rent | (17,814 | ) | (18,640 | ) | ||||||||
Other | (4,931 | ) | (4,566 | ) | ||||||||
Subtotal | 290,159 | 235,703 | ||||||||||
Valuation allowance | (132,368 | ) | (92,260 | ) | ||||||||
Net non-current deferred tax assets | $ | 157,791 | $ | 143,443 | ||||||||
At December 31, 2013 and 2012, the Company has provided a valuation allowance of approximately $136.0 million and $95.6 million, respectively, which primarily relates to foreign items. During 2013, the Company increased amounts recorded as valuation allowances due to the uncertainty as to the timing of, and the Company’s ability to recover, net deferred tax assets in certain foreign operations in the foreseeable future. The amount of deferred tax assets considered realizable, however, could be adjusted if objective evidence in the form of cumulative losses is no longer present and additional weight may be given to subjective evidence such as our projections for growth. | ||||||||||||
The recoverability of the Company’s net deferred tax asset has been assessed utilizing projections based on its current operations. Accordingly, the recoverability of the net deferred tax asset is not dependent on material asset sales or other non-routine transactions. Based on its current outlook of future taxable income during the carryforward period, management believes that the net deferred tax asset will be realized. | ||||||||||||
The Company’s deferred tax assets as of December 31, 2012 in the table above do not include $6.9 million of excess tax benefits from the exercise of employee stock options that are a component of NOLs as these benefits can only be recognized when the related tax deduction reduces income taxes payable. As of December 31, 2013, the excess tax benefit from the exercise of employee stock options have been fully recognized. | ||||||||||||
The Company considers the earnings of certain non-U.S. subsidiaries to be indefinitely invested outside the United States on the basis of estimates that future domestic cash generation will be sufficient to meet future domestic cash needs. The Company has not recorded a deferred tax liability related to the U.S. federal and state income taxes and foreign withholding taxes on approximately $278.5 million of undistributed earnings of foreign subsidiaries indefinitely invested outside of the United States. Should the Company decide to repatriate the foreign earnings, it may have to adjust the income tax provision in the period it determined that the earnings will no longer be indefinitely invested outside of the United States. | ||||||||||||
At December 31, 2013, the Company had net federal, state and foreign operating loss carryforwards available to reduce future taxable income, which includes losses of approximately $0.3 billion related to employee stock options. If not utilized, the Company’s net operating loss carryforwards expire as follows (in thousands): | ||||||||||||
Years ended December 31, | Federal | State | Foreign | |||||||||
2014 to 2018 | $ | — | $ | 109,577 | $ | 354 | ||||||
2019 to 2023 | — | 277,687 | 84,308 | |||||||||
2024 to 2028 | 786,863 | 586,500 | — | |||||||||
2029 to 2033 | 419,982 | 231,521 | — | |||||||||
Indefinite carryforward | — | — | 597,284 | |||||||||
Total | $ | 1,206,845 | $ | 1,205,285 | $ | 681,946 | ||||||
In addition, the Company has Mexican tax credits of $2.4 million, which if not utilized will expire in 2017. | ||||||||||||
As of December 31, 2013 and 2012, the total amount of unrecognized tax benefits that would impact the effective tax rate, if recognized, is $31.1 million and $30.6 million, respectively. The Company expects the unrecognized tax benefits to change over the next 12 months if certain tax matters ultimately settle with the applicable taxing jurisdiction during this timeframe, or if the applicable statute of limitations lapses. The impact of the amount of such changes to previously recorded uncertain tax positions could range from zero to $1.2 million. A reconciliation of the beginning and ending amount of unrecognized tax benefits are as follows for the years ended December 31, (in thousands): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Balance at January 1 | $ | 34,337 | $ | 38,886 | $ | 79,012 | ||||||
Additions based on tax positions related to the current year | 1,427 | 1,037 | 1,801 | |||||||||
Additions for tax positions of prior years | — | — | 16,520 | |||||||||
Reductions for tax positions of prior years | (320 | ) | (221 | ) | (54,430 | ) | ||||||
Foreign currency | (1,681 | ) | (439 | ) | (3,550 | ) | ||||||
Reduction as a result of the lapse of statute of limitations and effective settlements | (1,218 | ) | (4,926 | ) | (467 | ) | ||||||
Balance at December 31 | $ | 32,545 | $ | 34,337 | $ | 38,886 | ||||||
During the years ended December 31, 2013, 2012 and 2011, the statute of limitations on certain unrecognized tax benefits lapsed and certain positions were effectively settled, which resulted in a decrease of $1.2 million, $4.9 million and $0.5 million, respectively, in the liability for uncertain tax benefits, all of which reduced the income tax provision. | ||||||||||||
The Company recorded penalties and tax-related interest expense (benefit) to the tax provision of $3.4 million, ($2.9 million) and $9.1 million for the years ended December 31, 2013, 2012 and 2011, respectively. As of December 31, 2013 and 2012, the total unrecognized tax benefits included in the consolidated balance sheets were $32.5 million and $34.3 million, respectively. As of December 31, 2013 and 2012, the total amount of accrued income tax-related interest and penalties included the consolidated balance sheets were $30.9 million and $28.7 million, respectively. | ||||||||||||
The Company has filed for prior taxable years, and for its taxable year ended December 31, 2013 will file, numerous consolidated and separate income tax returns, including U.S. federal and state tax returns and foreign tax returns. The Company is subject to examination in the U.S. and various state and foreign jurisdictions for certain tax years. As a result of the Company’s ability to carryforward federal, state and foreign NOLs, the applicable tax years generally remain open to examination several years after the applicable loss carryforwards have been used or expired. The Company regularly assesses the likelihood of additional assessments in each of the tax jurisdictions resulting from these examinations. The Company believes that adequate provisions have been made for income taxes for all periods through December 31, 2013. | ||||||||||||
In September 2013, the Internal Revenue Service released final Tangible Property Regulations (the “Final Regulations”). The Final Regulations provide guidance on applying Section 263(a) of the Code to amounts paid to acquire, produce or improve tangible property, as well as rules for materials and supplies (Code Section 162). These regulations contain certain changes from the temporary and proposed tangible property regulations that were issued on December 27, 2011. The Final Regulations are generally effective for taxable years beginning on or after January 1, 2014. In addition, taxpayers are permitted to early adopt the Final Regulations for taxable years beginning on or after January 1, 2012. The Company does not expect the Final Regulations to have a material effect on its results of operations or financial condition. |
StockBased_Compensation
Stock-Based Compensation | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | ' | |||||||||||||
Stock-Based Compensation | ' | |||||||||||||
STOCK-BASED COMPENSATION | ||||||||||||||
The Company recognized stock-based compensation expense of $68.1 million, $52.0 million and $47.4 million for the years ended December 31, 2013, 2012 and 2011, respectively. Stock-based compensation expense for the years ended December 31, 2013 and 2011 included $1.1 million and $3.0 million, respectively, related to the modification of the vesting and exercise terms for certain employees’ equity awards. The Company did not modify the vesting or exercise terms of equity awards during the year ended December 31, 2012. The Company capitalized $1.6 million and $2.2 million of stock-based compensation expense as property and equipment during the years ended December 31, 2013 and 2012, respectively. | ||||||||||||||
Summary of Stock-Based Compensation Plans—The Company maintains equity incentive plans that provide for the grant of stock-based awards to its directors, officers and employees. The 2007 Equity Incentive Plan (“2007 Plan”) provides for the grant of non-qualified and incentive stock options, as well as restricted stock units, restricted stock and other stock-based awards. Exercise prices in the case of non-qualified and incentive stock options are not less than the fair value of the underlying common stock on the date of grant. Equity awards typically vest ratably over various periods, generally four years, and stock options generally expire ten years from the date of grant. As of December 31, 2013, the Company has the ability to grant stock-based awards with respect to an aggregate of 16.6 million shares of common stock under the 2007 Plan. | ||||||||||||||
Effective January 1, 2013, the Company’s Compensation Committee adopted a death, disability and retirement benefits program in connection with equity awards granted on or after January 1, 2013 that provides for accelerated vesting and extended exercise periods of stock options and restricted stock units upon an employee’s death or permanent disability, or upon an employee’s qualified retirement, provided certain eligibility criteria are met. Accordingly, for grants made on or after January 1, 2013, the Company recognizes compensation expense for all stock-based compensation over the shorter of (i) the four-year vesting period or (ii) the period from the date of grant to the date the employee becomes eligible for such retirement benefits, which may occur upon grant. Due to the accelerated recognition of stock-based compensation expense related to awards granted to retirement eligible employees, the Company recognized an additional $7.8 million of stock-based compensation expense during the year ended December 31, 2013. | ||||||||||||||
Stock Options—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 approximating the estimated life in effect at the accounting measurement date. The expected life (estimated period of time outstanding) is estimated using the vesting term and historical exercise behavior of the Company’s employees. The expected volatility is based on historical volatility for a period equal to the expected life of the stock options. The expected annual dividend is the Company’s best estimate of expected future dividend yield. | ||||||||||||||
Key assumptions used to apply this pricing model are as follows: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Range of risk-free interest rate | 0.75% - 1.42% | 0.62% - 1.03% | 0.90% – 2.24% | |||||||||||
Weighted average risk-free interest rate | 0.91% | 0.92% | 1.97% | |||||||||||
Expected life of option grants | 4.41 years | 4.40 years | 4.50 years | |||||||||||
Range of expected volatility of underlying stock price | 24.43% - 36.09% | 36.53% - 37.86% | 36.89% – 38.13% | |||||||||||
Weighted average expected volatility of underlying stock price | 33.37% | 37.84% | 36.98% | |||||||||||
Expected annual dividend yield | 1.50% | 1.50% | 0.03% | |||||||||||
The weighted average grant date fair value per share during the years ended December 31, 2013, 2012 and 2011 was $19.05, $17.46 and $17.18, respectively. The intrinsic value of stock options exercised during the years ended December 31, 2013, 2012 and 2011 was $42.1 million, $59.5 million and $54.6 million, respectively. As of December 31, 2013, total unrecognized compensation expense related to unvested stock options is approximately $34.4 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 $40.6 million during the year ended December 31, 2013. | ||||||||||||||
The following table summarizes the Company’s option activity for the periods presented: | ||||||||||||||
Options | Weighted | Weighted | Aggregate | |||||||||||
Average | Average | Intrinsic Value | ||||||||||||
Exercise Price | Contractual | (in millions) | ||||||||||||
Term (Years) | ||||||||||||||
Outstanding as of January 1, 2013 | 5,829,945 | $ | 44.09 | |||||||||||
Granted | 1,449,261 | 76.89 | ||||||||||||
Exercised | (1,081,437 | ) | 37.52 | |||||||||||
Forfeited | (91,298 | ) | 59.27 | |||||||||||
Expired | (300 | ) | 9.94 | |||||||||||
Outstanding as of December 31, 2013 | 6,106,171 | $ | 52.81 | 6.52 | $ | 164.9 | ||||||||
Exercisable as of December 31, 2013 | 3,196,741 | $ | 40.54 | 4.81 | $ | 125.6 | ||||||||
Vested or expected to vest as of December 31, 2013 | 6,104,707 | $ | 52.81 | 6.52 | $ | 164.9 | ||||||||
The following table sets forth information regarding options outstanding at December 31, 2013: | ||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||
Outstanding | Range of Exercise | Weighted | Weighted Average | Options | Weighted | |||||||||
Number of | Price Per Share | Average Exercise | Remaining Life | Exercisable | Average Exercise | |||||||||
Options | Price Per Share | (Years) | Price Per Share | |||||||||||
808,812 | $10.68 - $35.72 | $27.94 | 3.97 | 808,812 | $27.94 | |||||||||
1,913,223 | 37.52 - 47.25 | 40.64 | 4.33 | 1,729,532 | 40.38 | |||||||||
854,664 | 50.78 - 58.60 | 51.23 | 7.2 | 376,970 | 51.14 | |||||||||
1,131,753 | 62.00 - 74.06 | 62.54 | 8.2 | 255,515 | 62.23 | |||||||||
1,397,719 | 76.90 - 79.05 | 76.95 | 9.2 | 25,912 | 76.9 | |||||||||
6,106,171 | $10.68 - $79.05 | $52.81 | 6.52 | 3,196,741 | $40.54 | |||||||||
Restricted Stock Units—The following table summarizes the Company’s restricted stock unit activity during the year ended December 31, 2013: | ||||||||||||||
Number of | Weighted Average Grant | |||||||||||||
Units | Date Fair Value | |||||||||||||
Outstanding as of January 1, 2013 | 1,968,553 | $ | 51.56 | |||||||||||
Granted | 828,218 | 76.88 | ||||||||||||
Vested | (817,966 | ) | 45.92 | |||||||||||
Forfeited | (138,668 | ) | 61 | |||||||||||
Outstanding as of December 31, 2013 | 1,840,137 | $ | 64.75 | |||||||||||
Expected to vest, net of estimated forfeitures, as of December 31, 2013 | 1,769,009 | $ | 64.54 | |||||||||||
The total fair value of restricted stock units that vested during the year ended December 31, 2013 was $62.7 million. | ||||||||||||||
As of December 31, 2013, total unrecognized compensation expense related to unvested restricted stock units granted under the 2007 Plan is $76.9 million and is expected to be recognized over a weighted average period of approximately two years. | ||||||||||||||
Employee Stock Purchase Plan—The Company maintains an employee stock purchase plan (“ESPP”) for all eligible employees. Under the ESPP, shares of the Company’s common stock may be purchased on the last day of each bi-annual offering period at a 15% discount of the lower of the closing market values on the first or last day of such offering period. Employees may purchase shares having a value not exceeding 15% of their gross compensation during an offering period and may not purchase more than $25,000 worth of stock in a calendar year (based on market values at the beginning of each offering period). The offering periods run from June 1 through November 30 and from December 1 through May 31 of each year. During the 2013, 2012 and 2011 offering periods employee contributions were accumulated to purchase an estimated 78,000, 88,000 and 79,000 shares, respectively, at weighted average prices per share of $64.74, $51.59 and $44.56, respectively. During each six month offering period, employees accumulate payroll deductions to purchase the Company’s common stock. The fair value of the ESPP shares purchased is estimated on the offering period commencement date using a Black-Scholes pricing model with the expense recognized over the expected life, which is the six month offering period. The weighted average fair value per share of ESPP shares purchased during the year ended December 31, 2013, 2012 and 2011 was $13.42, $13.64 and $12.18, respectively. At December 31, 2013, 3.4 million shares remain reserved for future issuance under the plan. | ||||||||||||||
Key assumptions used to apply the Black-Scholes pricing model for shares purchased through the ESPP for the years ended December 31, are as follows: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Range of risk-free interest rate | 0.07% – 0.13% | 0.05% – 0.12% | 0.11% – 0.20% | |||||||||||
Weighted average risk-free interest rate | 0.10% | 0.08% | 0.16% | |||||||||||
Expected life of shares | 6 months | 6 months | 6 months | |||||||||||
Range of expected volatility of underlying stock price over the option period | 12.21% – 13.57% | 33.16% – 33.86% | 33.96% – 34.55% | |||||||||||
Weighted average expected volatility of underlying stock price | 12.88% | 33.54% | 34.28% | |||||||||||
Expected annual dividend yield | 1.50% | 1.50% | N/A |
Equity
Equity | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Stockholders' Equity Attributable to Parent [Abstract] | ' | ||||||||||||
Equity | ' | ||||||||||||
EQUITY | |||||||||||||
Stock Repurchase Program—In March 2011, the Board of Directors approved a stock repurchase program, pursuant to which the Company is authorized to purchase up to $1.5 billion of common stock (“2011 Buyback”). | |||||||||||||
During the year ended December 31, 2013, the Company repurchased 1,938,021 shares of its common stock for an aggregate of $145.0 million, including commissions and fees, pursuant to the 2011 Buyback. On September 6, 2013, the Company temporarily suspended repurchases following the signing of its agreement to acquire MIPT. As of December 31, 2013, the Company had repurchased a total of approximately 6.3 million shares of its common stock under the 2011 Buyback for an aggregate of $389.0 million, including commissions and fees. | |||||||||||||
Under the 2011 Buyback, the Company is authorized to purchase shares from time to time through open market purchases or privately negotiated transactions at prevailing prices in accordance with 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 Securities Exchange Act of 1934, as amended, 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. | |||||||||||||
The Company continues to manage the pacing of the remaining $1.1 billion under the 2011 Buyback in response to general market conditions and other relevant factors, including its financial policies. The Company expects to fund any further repurchases of its common stock through a combination of cash on hand, cash generated by operations and borrowings under its credit facilities. Purchases under the 2011 Buyback are subject to the Company having available cash to fund repurchases. | |||||||||||||
Sales of Equity Securities—The Company receives proceeds from sales of its equity securities pursuant to its ESPP and upon exercise of stock options granted under its equity incentive plans. For the year ended December 31, 2013, the Company received an aggregate of $45.5 million in proceeds upon exercises of stock options and from its ESPP. | |||||||||||||
Distributions—During the year ended December 31, 2013, the Company declared and paid the following regular cash distributions to the stockholders: | |||||||||||||
Declaration Date | Payment Date | Record Date | Distribution | Aggregate | |||||||||
per share | Payment Amount | ||||||||||||
(in millions) | |||||||||||||
March 12, 2013 | April 25, 2013 | April 10, 2013 | $ | 0.26 | $ | 102.8 | |||||||
May 22, 2013 | July 16, 2013 | June 17, 2013 | $ | 0.27 | $ | 106.7 | |||||||
September 12, 2013 | October 7, 2013 | September 23, 2013 | $ | 0.28 | $ | 110.5 | |||||||
December 4, 2013 | December 31, 2013 | December 16, 2013 | $ | 0.29 | $ | 114.5 | |||||||
The Company accrues distributions on unvested restricted stock unit awards granted subsequent to January 1, 2012, which are payable upon vesting. As of December 31, 2013, the Company accrued $1.9 million of distributions payable related to unvested restricted stock units. During the year ended December 31, 2013, the Company paid $0.2 million of distributions payable upon the vesting of restricted stock units. | |||||||||||||
To maintain its REIT status, the Company expects to continue paying distributions, the amount, timing and frequency of which will be determined and be subject to adjustment by the Company’s Board of Directors. |
Impairments_Net_Loss_on_Sale_o
Impairments, Net Loss on Sale of Long-Lived Assets | 12 Months Ended |
Dec. 31, 2013 | |
Property, Plant and Equipment Impairment or Disposal [Abstract] | ' |
Impairments, Net Loss on Sale of Long-lived Assets | ' |
IMPAIRMENTS, NET LOSS ON SALES OF LONG-LIVED ASSETS | |
During the years ended December 31, 2013, 2012 and 2011, the Company recorded impairment charges and net losses on sales or disposals of long-lived assets of $32.5 million, $34.4 million and $17.4 million, respectively. These charges are primarily related to assets included in the Company’s domestic rental and management segment and are included in Other operating expenses in the consolidated statements of operation. | |
Included in these amounts are impairment charges of approximately $15.9 million, $21.5 million and $9.0 million for the years ended December 31, 2013, 2012 and 2011, respectively, to write down certain assets to net realizable value after an indicator of impairment was identified. Included in amounts recorded for the year ended December 31, 2012, was an impairment charge of approximately $10.8 million resulting from the impairment of one of the Company’s outdoor DAS networks upon the termination of a tenant lease. | |
Also included in these amounts are net losses associated with the sale or disposal of certain non-core towers, other assets and other miscellaneous items of $16.6 million, $12.9 million and $8.4 million for the years ended December 31, 2013, 2012 and 2011, respectively. |
Earnings_Per_Common_Share
Earnings Per Common Share | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Earnings Per Common Share | ' | |||||||||||
EARNINGS PER COMMON SHARE | ||||||||||||
Basic income from continuing operations per common share represents Income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period. Diluted income from continuing operations per common share represents Income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents, including unvested restricted stock and shares issuable upon exercise of stock options as determined under the treasury stock method. Dilutive common share equivalents also include the dilutive impact of the Verizon transaction (see note 19). | ||||||||||||
The following table sets forth basic and diluted income from continuing operations per common share computational data for the years ended December 31, 2013, 2012 and 2011 (in thousands, except per share data): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Income from continuing operations attributable to American Tower Corporation | $ | 551,333 | $ | 637,283 | $ | 396,462 | ||||||
Basic weighted average common shares outstanding | 395,040 | 394,772 | 395,711 | |||||||||
Dilutive securities | 4,106 | 4,515 | 4,484 | |||||||||
Diluted weighted average common shares outstanding | 399,146 | 399,287 | 400,195 | |||||||||
Basic income from continuing operations attributable to | ||||||||||||
American Tower Corporation per common share | $ | 1.4 | $ | 1.61 | $ | 1 | ||||||
Diluted income from continuing operations attributable to | ||||||||||||
American Tower Corporation per common share | $ | 1.38 | $ | 1.6 | $ | 0.99 | ||||||
For the years ended December 31, 2013, 2012 and 2011, the diluted weighted average number of common shares outstanding excludes shares issuable upon exercise of the Company’s stock options and stock based awards of 1.2 million, 1.0 million and 0.9 million, respectively, as the effect would be anti-dilutive. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Commitments and Contingencies | ' | |||
COMMITMENTS AND CONTINGENCIES | ||||
Litigation—The Company periodically becomes involved in various claims, lawsuits and proceedings that are incidental to its business. In the opinion of Company management, after consultation with counsel, other than the legal proceedings discussed below, there are no matters currently pending that would, in the event of an adverse outcome, materially impact the Company’s consolidated financial position, results of operations or liquidity. | ||||
TriStar Litigation—The Company is involved in several lawsuits against TriStar Investors LLP and its affiliates (“TriStar”) in various states regarding single tower sites where TriStar has taken land interests under the Company’s owned or managed sites and the Company believes TriStar has improperly induced the landowner to breach obligations to the Company. In addition, on February 16, 2012, TriStar brought a federal action against the Company in the United States District Court for the Northern District of Texas, in which TriStar principally alleges that the Company made misrepresentations to landowners when competing with TriStar for land under the Company’s owned or managed sites. On January 22, 2013, the Company filed an amended answer and counterclaim against TriStar and certain of its employees, denying Tristar’s claims and asserting that TriStar has engaged in a pattern of unlawful activity, including: (i) entering into agreements not to compete for land under certain towers; and (ii) making widespread misrepresentations to landowners regarding both TriStar and the Company. TriStar and the Company are each seeking injunctive relief that would prohibit the other party from making certain statements when interacting with landowners, as well as damages. | ||||
Lease Obligations—The 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-cancellable term of the leases. | ||||
Future minimum rental payments under non-cancellable operating leases include payments for certain renewal periods at the Company’s option because failure to renew could result in a loss of the applicable tower sites and related revenues from tenant leases, thereby making it reasonably assured that the Company will renew the leases. Such payments at December 31, 2013 are as follows (in thousands): | ||||
Year Ending December 31, | ||||
2014 | $ | 512,429 | ||
2015 | 504,485 | |||
2016 | 492,058 | |||
2017 | 478,383 | |||
2018 | 466,138 | |||
Thereafter | 4,433,263 | |||
Total | $ | 6,886,756 | ||
Aggregate rent expense (including the effect of straight-line rent expense) under operating leases for the years ended December 31, 2013, 2012 and 2011 approximated $495.2 million, $419.0 million and $366.1 million, respectively. | ||||
Future minimum payments under capital leases in effect at December 31, 2013 are as follows (in thousands): | ||||
Year Ending December 31, | ||||
2014 | $ | 11,114 | ||
2015 | 9,063 | |||
2016 | 8,601 | |||
2017 | 8,390 | |||
2018 | 7,371 | |||
Thereafter | 168,695 | |||
Total minimum lease payments | 213,234 | |||
Less amounts representing interest | (139,856 | ) | ||
Present value of capital lease obligations | $ | 73,378 | ||
Tenant Leases—The Company’s lease agreements with its tenants vary depending upon the region and the industry of the tenant. In the United States, initial terms for television and radio broadcast leases typically range between ten to twenty years, while leases for wireless communications providers generally have initial terms of five to ten years. Internationally, the Company’s typical tenant leases have initial terms of ten years. In most cases, the Company’s tenant leases have multiple renewal terms at the option of the tenant. | ||||
Future minimum rental receipts expected from tenants under non-cancellable operating lease agreements in effect at December 31, 2013 are as follows (in thousands): | ||||
Year Ending December 31, | ||||
2014 | $ | 3,109,078 | ||
2015 | 3,043,013 | |||
2016 | 2,966,499 | |||
2017 | 2,887,319 | |||
2018 | 2,735,520 | |||
Thereafter | 7,901,662 | |||
Total | $ | 22,643,091 | ||
AT&T Transaction—The Company has an agreement with SBC Communications Inc., a predecessor entity to AT&T Inc. (“AT&T”), for the lease or sublease of approximately 2,450 towers from AT&T commencing between December 2000 and August 2004. Substantially all of the towers are part of the Securitization. The average term of the lease or sublease for all sites at the inception of the agreement was approximately 27 years, assuming renewals or extensions of the underlying ground leases for the sites. The Company has the option to purchase the sites subject to the applicable lease or sublease upon its expiration. Each tower is assigned to an annual tranche, ranging from 2013 to 2032, which represents the outside expiration date for the sublease rights to that tower. The purchase price for each site is a fixed amount stated in the sublease for that site plus the fair market value of certain alterations made to the related tower by AT&T. During the year ended December 31, 2013, the Company purchased four of the subleased towers upon expiration of the applicable agreement. The aggregate purchase option price for the remaining towers leased and subleased was approximately $597.9 million as of December 31, 2013, and will accrete at a rate of 10% per year to the applicable expiration of the lease or sublease of a site. For all such sites purchased by the Company prior to June 30, 2020, AT&T will continue to lease the reserved space at the then-current monthly fee which shall escalate in accordance with the standard master lease agreement for the remainder of AT&T’s tenancy. Thereafter, AT&T shall have the right to renew such lease for up to four successive five-year terms. For all such sites purchased by the Company subsequent to June 30, 2020, AT&T has the right to continue to lease the reserved space for successive one-year terms at a rent equal to the lesser of the agreed upon market rate and the then current monthly fee, which is subject to an annual increase based on changes in the CPI. | ||||
Verizon Transaction—In December 2000, the Company entered into an agreement with ALLTEL, a predecessor entity to Verizon Wireless (“Verizon”) to acquire towers through a 15-year sublease agreement. Pursuant to the agreement with Verizon, as amended, the Company acquired rights to a total of approximately 1,800 towers in tranches between April 2001 and March 2002. The Company has the option to purchase each tower at the expiration of the applicable sublease, which will occur in tranches between April 2016 and March 2017 based on the original closing date for such tranche of towers. The purchase price per tower as of the original closing date was $27,500 and will accrete at a rate of 3% per annum through the expiration of the applicable sublease. The aggregate purchase option price for the subleased towers is approximately $71.2 million as of December 31, 2013. At Verizon’s option, at the expiration of the sublease, the purchase price would be payable in cash or with 769 shares of the Company’s common stock per tower, which at December 31, 2013 would be valued at approximately $109.0 million. | ||||
Guaranties and Indemnifications—The Company enters into agreements from time to time in the ordinary course of business pursuant to which it agrees to guarantee or indemnify third parties for certain claims. The Company has also entered into purchase and sale agreements relating to the sale or acquisition of assets containing customary indemnification provisions. The Company’s indemnification obligations under these agreements generally are limited solely to damages resulting from breaches of representations and warranties or covenants under the applicable agreements, but do not guaranty future performance. In addition, payments under such indemnification clauses are generally conditioned on the other party making a claim that is subject to whatever defenses the Company may have and are governed by dispute resolution procedures specified in the particular agreement. Further, the Company’s obligations under these agreements may be limited in duration and/or amount, and in some instances, the Company may have recourse against third parties for payments made by the Company. The Company has not historically made any material payments under these agreements and, as of December 31, 2013, is not aware of any agreements that could result in a material payment. | ||||
Other Contingencies—The Company is subject to income tax and other taxes in the geographic areas where it operates, and periodically receives notifications of audits, assessments or other actions by taxing authorities. The Company evaluates the circumstances of each notification based on the information available, and records a liability for any potential outcome that is probable or more likely than not unfavorable, if the liability is also reasonably estimable. On January 21, 2014, the Company received an income tax assessment in the amount of 22.6 billion INR (approximately $369.0 million on the date of assessment), asserting tax liabilities arising out of a transfer pricing review of transactions by Essar Telecom Infrastructure Private Limited (“ETIPL”), and more specifically involving the issuance of share capital and the determination by the tax authority that an income tax obligation arose as a result of such issuance. The assessment was made with respect to transactions that took place in the tax year commencing in 2008, prior to the Company’s acquisition of ETIPL. Under the Company’s definitive acquisition agreement of ETIPL, the seller is obligated to indemnify and defend the Company with respect to any tax-related liability that may arise from activities prior to March 31, 2010. The Company believes that there is no basis upon which the tax assessment can be enforced under existing tax law and accordingly has not recorded an obligation in the consolidated financial statements. The assessment is being challenged with the appellate authorities. |
Supplemental_Cash_Flow_Informa
Supplemental Cash Flow Information | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||||
Supplemental Cash Flow Information | ' | |||||||||||
SUPPLEMENTAL CASH FLOW INFORMATION | ||||||||||||
Supplemental cash flow information and non-cash investing and financing activities for the years ended December 31, 2013, 2012 and 2011 are as follows (in thousands): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Supplemental cash flow information: | ||||||||||||
Cash paid for interest | $ | 397,366 | $ | 366,458 | $ | 274,234 | ||||||
Cash paid for income taxes (net of refunds of $19,701, $20,847 and $9,277, respectively) | 51,676 | 69,277 | 53,909 | |||||||||
Non-cash investing and financing activities: | ||||||||||||
Increase (decrease) in accounts payable and accrued expenses for purchases of property and equipment and construction activities | 9,147 | (10,244 | ) | 8,507 | ||||||||
Purchases of property and equipment under capital leases | 27,416 | 19,219 | 6,800 | |||||||||
Fair value of debt assumed through acquisitions | 1,576,186 | — | 209,321 | |||||||||
Business_Segments
Business Segments | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Business Segments | ' | ||||||||||||||||||||||||
BUSINESS SEGMENTS | |||||||||||||||||||||||||
The Company operates in three business segments: domestic rental and management, international rental and management and network development services. The Company’s primary business is leasing antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities and tenants in a number of other industries. This business is referred to as the Company’s rental and management operations and is comprised of domestic and international segments: | |||||||||||||||||||||||||
• | Domestic: consisting of rental and management operations in the United States; and | ||||||||||||||||||||||||
• | International: consisting of rental and management operations in Brazil, Chile, Colombia, Costa Rica, Germany, Ghana, India, Mexico, Panama, Peru, South Africa and Uganda. | ||||||||||||||||||||||||
The Company has applied the aggregation criteria to operations within the international rental and management operating segments on a basis consistent with management’s review of information and performance evaluation. | |||||||||||||||||||||||||
The Company’s network development services segment offers tower-related services in the United States, including site acquisition, zoning and permitting services and structural analysis services, which primarily support its site leasing business and the addition of new tenants and equipment on its sites. The network development services segment is a strategic business unit that offers different services from the rental and management operating segments and requires different resources, skill sets and marketing strategies. | |||||||||||||||||||||||||
The accounting policies applied in compiling segment information below are similar to those described in note 1. Among other factors, in evaluating financial performance in each business segment, management uses segment gross margin and segment operating profit. The Company defines segment gross margin as segment revenue less segment operating expenses excluding stock-based compensation expense recorded in costs of operations; Depreciation, amortization and accretion; Selling, general, administrative and development expense; and Other operating expenses. 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 international 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 (expense) income, Net income (loss) attributable to noncontrolling interest, Income (loss) on equity method investments, and Income tax provision (benefit). The categories of expenses indicated above, such as depreciation, have been excluded from segment operating performance as they are not considered in the review of information or the evaluation of results by management. There are no significant revenues resulting from transactions between the Company’s operating segments. All intercompany transactions are eliminated to reconcile segment results and assets to the consolidated statements of operations and consolidated balance sheets. | |||||||||||||||||||||||||
Summarized financial information concerning the Company’s reportable segments for the years ended December 31, 2013, 2012 and 2011 is shown in the following tables. The “Other” column (i) represents amounts excluded from specific segments, such as business development operations, stock-based compensation expense and corporate expenses included in Selling, general, administrative and development expense; Other operating expenses; Interest income; Interest expense; Loss on retirement of long-term obligations; and Other (expense) income, and (ii) reconciles segment operating profit to Income from continuing operations before income taxes and income on equity method investments, as the amounts are not utilized in assessing each segment’s performance. | |||||||||||||||||||||||||
Rental and Management | Total Rental and | Network | Other | Total | |||||||||||||||||||||
Management | Development | ||||||||||||||||||||||||
Year Ended December 31, 2013 | Domestic | International | Services | ||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Segment revenues | $ | 2,189,365 | $ | 1,097,725 | $ | 3,287,090 | $ | 74,317 | $ | 3,361,407 | |||||||||||||||
Segment operating expenses (1) | 405,419 | 422,346 | 827,765 | 30,564 | 858,329 | ||||||||||||||||||||
Interest income, TV Azteca, net | — | 22,235 | 22,235 | — | 22,235 | ||||||||||||||||||||
Segment gross margin | 1,783,946 | 697,614 | 2,481,560 | 43,753 | 2,525,313 | ||||||||||||||||||||
Segment selling, general, administrative and development expense (1) | 103,989 | 123,338 | 227,327 | 9,257 | 236,584 | ||||||||||||||||||||
Segment operating profit | $ | 1,679,957 | $ | 574,276 | $ | 2,254,233 | $ | 34,496 | $ | 2,288,729 | |||||||||||||||
Stock-based compensation expense | $ | 68,138 | 68,138 | ||||||||||||||||||||||
Other selling, general, administrative and development expense | 112,367 | 112,367 | |||||||||||||||||||||||
Depreciation, amortization and accretion | 800,145 | 800,145 | |||||||||||||||||||||||
Other expense (principally interest expense and other expense) | 766,330 | 766,330 | |||||||||||||||||||||||
Income from continuing operations before income taxes and income on equity method investments | $ | 541,749 | |||||||||||||||||||||||
Capital expenditures | $ | 416,239 | $ | 277,910 | $ | 694,149 | $ | — | $ | 30,383 | $ | 724,532 | |||||||||||||
(1) Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of | |||||||||||||||||||||||||
$1.5 million and $66.6 million, respectively. | |||||||||||||||||||||||||
Rental and Management | Total Rental and | Network | Other | Total | |||||||||||||||||||||
Management | Development | ||||||||||||||||||||||||
Year Ended December 31, 2012 | Domestic | International | Services | ||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Segment revenues | $ | 1,940,689 | $ | 862,801 | $ | 2,803,490 | $ | 72,470 | $ | 2,875,960 | |||||||||||||||
Segment operating expenses (1) | 357,555 | 328,333 | 685,888 | 34,830 | 720,718 | ||||||||||||||||||||
Interest income, TV Azteca, net | — | 14,258 | 14,258 | — | 14,258 | ||||||||||||||||||||
Segment gross margin | 1,583,134 | 548,726 | 2,131,860 | 37,640 | 2,169,500 | ||||||||||||||||||||
Segment selling, general, administrative and development expense (1) | 85,663 | 95,579 | 181,242 | 6,744 | 187,986 | ||||||||||||||||||||
Segment operating profit | $ | 1,497,471 | $ | 453,147 | $ | 1,950,618 | $ | 30,896 | $ | 1,981,514 | |||||||||||||||
Stock-based compensation expense | $ | 51,983 | 51,983 | ||||||||||||||||||||||
Other selling, general, administrative and development expense | 89,093 | 89,093 | |||||||||||||||||||||||
Depreciation, amortization and accretion | 644,276 | 644,276 | |||||||||||||||||||||||
Other expense (principally interest expense and other expense) | 494,868 | 494,868 | |||||||||||||||||||||||
Income from continuing operations before income taxes and income on equity method investments | $ | 701,294 | |||||||||||||||||||||||
Capital expenditures | $ | 268,997 | $ | 279,004 | $ | 548,001 | $ | — | $ | 20,047 | $ | 568,048 | |||||||||||||
(1) Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of | |||||||||||||||||||||||||
$1.8 million and $50.2 million, respectively. | |||||||||||||||||||||||||
Rental and Management | Total Rental and | Network | Other | Total | |||||||||||||||||||||
Management | Development | ||||||||||||||||||||||||
Year Ended December 31, 2011 | Domestic | International | Services | ||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Segment revenues | $ | 1,744,260 | $ | 641,925 | $ | 2,386,185 | $ | 57,347 | $ | 2,443,532 | |||||||||||||||
Segment operating expenses (1) | 353,458 | 235,709 | 589,167 | 29,460 | 618,627 | ||||||||||||||||||||
Interest income, TV Azteca, net | — | 14,214 | 14,214 | — | 14,214 | ||||||||||||||||||||
Segment gross margin | 1,390,802 | 420,430 | 1,811,232 | 27,887 | 1,839,119 | ||||||||||||||||||||
Segment selling, general, administrative and development expense (1) | 77,041 | 82,106 | 159,147 | 7,864 | 167,011 | ||||||||||||||||||||
Segment operating profit | $ | 1,313,761 | $ | 338,324 | $ | 1,652,085 | $ | 20,023 | $ | 1,672,108 | |||||||||||||||
Stock-based compensation expense | $ | 47,437 | 47,437 | ||||||||||||||||||||||
Other selling, general, administrative and development expense | 76,705 | 76,705 | |||||||||||||||||||||||
Depreciation, amortization and accretion | 555,517 | 555,517 | |||||||||||||||||||||||
Other expense (principally interest expense and other expense) | 485,554 | 485,554 | |||||||||||||||||||||||
Income from continuing operations before income taxes and income on equity method investments | $ | 506,895 | |||||||||||||||||||||||
Capital expenditures | $ | 325,264 | $ | 178,826 | $ | 504,090 | $ | — | $ | 18,925 | $ | 523,015 | |||||||||||||
(1) Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of | |||||||||||||||||||||||||
$2.3 million and $45.1 million, respectively. | |||||||||||||||||||||||||
Additional information relating to the total assets of the Company’s operating segments for the years ended December 31, is as follows (in thousands): | |||||||||||||||||||||||||
2013 | 2012 (1) | 2011 | |||||||||||||||||||||||
Domestic rental and management | $ | 13,480,641 | $ | 8,471,169 | $ | 7,789,578 | |||||||||||||||||||
International rental and management (2) | 6,564,840 | 5,190,987 | 3,942,258 | ||||||||||||||||||||||
Network development services | 47,607 | 63,956 | 33,941 | ||||||||||||||||||||||
Other (3) | 179,483 | 363,317 | 476,618 | ||||||||||||||||||||||
Total assets | $ | 20,272,571 | $ | 14,089,429 | $ | 12,242,395 | |||||||||||||||||||
(1) Balances have been revised to reflect purchase accounting measurement period adjustments. | |||||||||||||||||||||||||
(2) Balances are translated at the applicable period end exchange rate and therefore may impact comparability between periods. | |||||||||||||||||||||||||
(3) Balances include corporate assets such as cash and cash equivalents, certain tangible and intangible assets and income tax accounts which have not been | |||||||||||||||||||||||||
allocated to specific segments. | |||||||||||||||||||||||||
Summarized geographic information related to the Company’s operating revenues for the years ended December 31, 2013, 2012 and 2011 and and long-lived assets as of December 31, 2013 and 2012, is as follows (in thousands): | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||||||
United States | $ | 2,263,682 | $ | 2,013,159 | $ | 1,801,607 | |||||||||||||||||||
International (1): | |||||||||||||||||||||||||
Brazil | 212,201 | 198,068 | 177,526 | ||||||||||||||||||||||
Chile | 28,978 | 22,114 | 7,380 | ||||||||||||||||||||||
Colombia | 70,901 | 48,424 | 13,690 | ||||||||||||||||||||||
Costa Rica | 4,055 | — | — | ||||||||||||||||||||||
Germany | 62,756 | 4,030 | — | ||||||||||||||||||||||
Ghana | 92,114 | 81,818 | 41,464 | ||||||||||||||||||||||
India | 191,355 | 181,863 | 170,680 | ||||||||||||||||||||||
Mexico | 288,306 | 217,473 | 183,175 | ||||||||||||||||||||||
Panama | 424 | — | — | ||||||||||||||||||||||
Peru | 5,824 | 5,310 | 4,546 | ||||||||||||||||||||||
South Africa | 91,906 | 80,202 | 43,464 | ||||||||||||||||||||||
Uganda | 48,905 | 23,499 | — | ||||||||||||||||||||||
Total international | 1,097,725 | 862,801 | 641,925 | ||||||||||||||||||||||
Total operating revenues | $ | 3,361,407 | $ | 2,875,960 | $ | 2,443,532 | |||||||||||||||||||
(1) Balances are translated at the applicable exchange rate and therefore may impact comparability between periods. | |||||||||||||||||||||||||
2013 | 2012 (1) | ||||||||||||||||||||||||
Long-Lived Assets (2): | |||||||||||||||||||||||||
United States | $ | 12,278,780 | $ | 7,554,720 | |||||||||||||||||||||
International (3): | |||||||||||||||||||||||||
Brazil | 1,290,767 | 911,371 | |||||||||||||||||||||||
Chile | 167,318 | 196,387 | |||||||||||||||||||||||
Colombia | 390,197 | 380,326 | |||||||||||||||||||||||
Costa Rica | 271,988 | — | |||||||||||||||||||||||
Germany | 535,883 | 540,108 | |||||||||||||||||||||||
Ghana | 304,603 | 377,553 | |||||||||||||||||||||||
India | 610,744 | 676,049 | |||||||||||||||||||||||
Mexico | 1,355,542 | 710,888 | |||||||||||||||||||||||
Panama | 21,049 | — | |||||||||||||||||||||||
Peru | 58,220 | 65,756 | |||||||||||||||||||||||
South Africa | 213,316 | 231,573 | |||||||||||||||||||||||
Uganda | 195,128 | 169,853 | |||||||||||||||||||||||
Total international | 5,414,755 | 4,259,864 | |||||||||||||||||||||||
Total long-lived assets | $ | 17,693,535 | $ | 11,814,584 | |||||||||||||||||||||
(1) Balances have been revised to reflect purchase accounting measurement period adjustments. | |||||||||||||||||||||||||
(2) Includes Property and equipment, net, Goodwill and Other intangible assets, net. | |||||||||||||||||||||||||
(3) Balances are translated at the applicable period end exchange rate and therefore may impact comparability between periods. | |||||||||||||||||||||||||
The following tenants within the domestic and international rental and management segments and network development services segment individually accounted for 10% or more of the Company’s consolidated operating revenues for the years ended December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
AT&T Mobility | 18 | % | 18 | % | 20 | % | |||||||||||||||||||
Sprint Nextel | 16 | % | 14 | % | 14 | % | |||||||||||||||||||
Verizon Wireless | 11 | % | 11 | % | 12 | % | |||||||||||||||||||
T-Mobile | 11 | % | 8 | % | 7 | % |
Related_Party_Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2013 | |
Related Party Transaction, Due from (to) Related Party [Abstract] | ' |
Related Party Transactions | ' |
RELATED PARTY TRANSACTIONS | |
During the years ended December 31, 2013, 2012, and 2011, the Company had no significant related party transactions. |
Selected_Quarterly_Financial_D
Selected Quarterly Financial Data | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | |||||||||||||||||||
Selected Quarterly Financial Data | ' | |||||||||||||||||||
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) | ||||||||||||||||||||
Selected quarterly financial data for the years ended December 31, 2013 and 2012 is as follows (in thousands, except per share data): | ||||||||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | December 31, | ||||||||||||||||
2013:00:00 | ||||||||||||||||||||
Operating revenues | $ | 802,728 | $ | 808,830 | $ | 807,880 | $ | 941,969 | $ | 3,361,407 | ||||||||||
Cost of operations (1) | 201,766 | 205,709 | 200,829 | 251,569 | 859,873 | |||||||||||||||
Operating income | 299,686 | 312,812 | 308,879 | 292,928 | 1,214,305 | |||||||||||||||
Net income | 160,948 | 84,113 | 163,222 | 73,925 | 482,208 | |||||||||||||||
Net income attributable to American Tower Corporation | 171,407 | 99,821 | 180,123 | 99,982 | 551,333 | |||||||||||||||
Basic net income per common share | 0.43 | 0.25 | 0.46 | 0.25 | 1.4 | |||||||||||||||
Diluted net income per common share | 0.43 | 0.25 | 0.45 | 0.25 | 1.38 | |||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | December 31, | ||||||||||||||||
2012:00:00 | ||||||||||||||||||||
Operating revenues | $ | 696,517 | $ | 697,734 | $ | 713,335 | $ | 768,374 | $ | 2,875,960 | ||||||||||
Cost of operations (1) | 170,985 | 172,384 | 184,904 | 194,206 | 722,479 | |||||||||||||||
Operating income | 274,446 | 270,486 | 295,552 | 279,235 | 1,119,719 | |||||||||||||||
Net income | 210,358 | 33,689 | 231,825 | 118,153 | 594,025 | |||||||||||||||
Net income attributable to American Tower Corporation | 221,306 | 48,209 | 232,089 | 135,679 | 637,283 | |||||||||||||||
Basic net income per common share | 0.56 | 0.12 | 0.59 | 0.34 | 1.61 | |||||||||||||||
Diluted net income per common share | 0.56 | 0.12 | 0.58 | 0.34 | 1.6 | |||||||||||||||
(1) Represents Operating expenses, exclusive of Depreciation, amortization and accretion, Selling, general, administrative and development expense, and Other operating expense. |
Subsequent_Events
Subsequent Events | 12 Months Ended |
Dec. 31, 2013 | |
Subsequent Events [Abstract] | ' |
Subsequent Events | ' |
SUBSEQUENT EVENTS | |
3.40% Senior Notes and 5.00% Senior Notes Offering—On January 10, 2014, the Company completed a registered public offering of $250.0 million aggregate principal amount of reopened 3.40% Notes and $500.0 million aggregate principal amount of reopened 5.00% Notes. The net proceeds from the offering were approximately $763.8 million, after deducting commissions and estimated expenses. As of January 10, 2014, the aggregate outstanding principal amount of each of the 3.40% Notes and the 5.00% Notes was $1.0 billion. | |
The Company used a portion of the proceeds, together with cash on hand, to repay $88.0 million of indebtedness under the 2012 Credit Facility and $710.0 million of indebtedness under the 2013 Credit Facility. | |
The reopened 3.40% Notes have identical terms as, are fungible with and are part of a single series of senior debt securities with the 3.40% Notes originally issued on August 19, 2013. The reopened 5.00% Notes have identical terms as, are fungible with and are part of a single series of senior debt securities with the 5.00% Notes originally issued on August 19, 2013. |
Schedule_III_Real_Estate_and_A
Schedule III - Real Estate and Accumulated Depreciation | 12 Months Ended | |||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | ' | |||||||||||||||||||||||||
Real Estate and Accumulated Depreciation Disclosure | ' | |||||||||||||||||||||||||
Description | Encumbrances | Initial cost | Cost | Gross amount | Accumulated | Date of | Date | Life on which | ||||||||||||||||||
to company | capitalized | at which | depreciation | construction | acquired | depreciation in | ||||||||||||||||||||
subsequent to | carried at | latest income | ||||||||||||||||||||||||
acquisition | close of | statements is | ||||||||||||||||||||||||
period | computed | |||||||||||||||||||||||||
67,069 | sites (1) | $ | 3,676,882 | -2 | -3 | -3 | $ | 10,003,617 | -4 | $ | (3,297,033 | ) | Various | Various | Up to 20 years | |||||||||||
-1 | No single site exceeds 5% of the aggregate gross amounts at which the assets were carried at the close of the period set forth in the table above. | |||||||||||||||||||||||||
-2 | Certain assets secure debt of approximately $3.7 billion. | |||||||||||||||||||||||||
-3 | The Company has omitted this information, as it would be impracticable to compile such information on a site-by-site basis. | |||||||||||||||||||||||||
-4 | Does not include those sites under construction. | |||||||||||||||||||||||||
2013 (1) | 2012 | |||||||||||||||||||||||||
Gross amount at beginning | $ | 8,290,313 | $ | 7,192,641 | ||||||||||||||||||||||
Additions during period: | ||||||||||||||||||||||||||
Acquisitions through foreclosure | — | — | ||||||||||||||||||||||||
Other acquisitions (2) | 1,415,171 | 739,144 | ||||||||||||||||||||||||
Discretionary capital projects (3) | 314,126 | 217,935 | ||||||||||||||||||||||||
Discretionary ground lease purchases (4) | 102,991 | 93,990 | ||||||||||||||||||||||||
Redevelopment capital expenditures (5) | 89,960 | 67,309 | ||||||||||||||||||||||||
Capital improvements (6) | 58,960 | 70,453 | ||||||||||||||||||||||||
Start-up capital expenditures (7) | 15,757 | — | ||||||||||||||||||||||||
Other (8) | 8,764 | 30,813 | ||||||||||||||||||||||||
Total additions | 2,005,729 | 1,219,644 | ||||||||||||||||||||||||
Deductions during period: | ||||||||||||||||||||||||||
Cost of real estate sold or disposed | (48,467 | ) | (15,288 | ) | ||||||||||||||||||||||
Other (9) | (243,958 | ) | (80,450 | ) | ||||||||||||||||||||||
Total deductions: | (292,425 | ) | (95,738 | ) | ||||||||||||||||||||||
Balance at end | $ | 10,003,617 | $ | 8,316,547 | ||||||||||||||||||||||
-1 | Balance has been revised to reflect purchase accounting measurement period adjustments. | |||||||||||||||||||||||||
-2 | Includes acquisitions of sites. | |||||||||||||||||||||||||
-3 | Includes amounts incurred primarily for the construction of new sites. | |||||||||||||||||||||||||
-4 | Includes amounts incurred to purchase or otherwise secure the land under communications sites. | |||||||||||||||||||||||||
-5 | Includes amounts incurred to increase the capacity of existing sites, which results in new incremental tenant revenue. | |||||||||||||||||||||||||
-6 | Includes amounts incurred to maintain existing sites. | |||||||||||||||||||||||||
-7 | Includes amounts incurred for acquisitions and new market launches and costs that are contemplated in the business cases for these investments. | |||||||||||||||||||||||||
-8 | Primarily includes regional improvements and other additions. | |||||||||||||||||||||||||
-9 | Primarily includes foreign currency exchange rate fluctuations. | |||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||
Gross amount of accumulated depreciation at beginning | $ | (2,968,230 | ) | $ | (2,646,927 | ) | ||||||||||||||||||||
Additions during period: | ||||||||||||||||||||||||||
Depreciation | (408,693 | ) | (344,778 | ) | ||||||||||||||||||||||
Other | (264 | ) | (253 | ) | ||||||||||||||||||||||
Total additions | (408,957 | ) | (345,031 | ) | ||||||||||||||||||||||
Deductions during period: | ||||||||||||||||||||||||||
Amount of accumulated depreciation for assets sold or disposed | 17,462 | 10,920 | ||||||||||||||||||||||||
Other (1) | 62,692 | 12,808 | ||||||||||||||||||||||||
Total deductions | 80,154 | 23,728 | ||||||||||||||||||||||||
Balance at end | $ | (3,297,033 | ) | $ | (2,968,230 | ) | ||||||||||||||||||||
-1 | Primarily includes foreign currency exchange rate fluctuations. |
Business_and_Summary_of_Signif1
Business and Summary of Significant Accounting Policies (Policies) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||
Business | ' | |||||||||||
Business—American Tower Corporation is, through its various subsidiaries (collectively, “ATC” or the “Company”), an independent owner, operator and developer of wireless and broadcast communications real estate in the United States, Brazil, Chile, Colombia, Costa Rica, Germany, Ghana, India, Mexico, Panama, Peru, South Africa and Uganda. The Company’s primary business is the leasing of antenna space on multi-tenant communications sites to wireless service providers, radio and television broadcast companies, wireless data and data providers, government agencies and municipalities and tenants in a number of other industries. The Company also manages rooftop and tower sites for property owners, operates in-building and outdoor distributed antenna system (“DAS”) networks, holds property interests under third-party communications sites and provides network development services that primarily support its rental and management operations and the addition of new tenants and equipment on its sites. Since January 1, 2012, the Company has been organized and has qualified as a real estate investment trust (“REIT”) for U.S. federal income tax purposes. | ||||||||||||
ATC is a holding company that conducts its operations through its directly and indirectly owned subsidiaries and its joint ventures. ATC’s principal domestic operating subsidiaries are American Towers LLC and SpectraSite Communications, LLC. ATC conducts its international operations through its subsidiary, American Tower International, Inc., which in turn conducts operations through its various international holding and operating subsidiaries and joint ventures. | ||||||||||||
In May 2011, the Company announced its intention to reorganize to qualify as a REIT for federal income tax purposes. Effective December 31, 2011, the Company completed the merger with its predecessor (“American Tower”) that was approved by American Tower’s stockholders in November 2011. At the time of the merger all outstanding shares of Class A common stock of American Tower were converted into a right to receive an equal number of shares of common stock of the surviving corporation. In addition, each share of Class A common stock of American Tower held in treasury at December 31, 2011 ceased to be outstanding, and a corresponding adjustment was recorded to additional paid in capital and common stock. | ||||||||||||
The Company holds and operates certain of its assets through one or more taxable REIT subsidiaries (“TRSs”). A TRS is a subsidiary of a REIT that is subject to applicable corporate income tax. The Company’s use of TRSs enables it to continue to engage in certain businesses while complying with REIT qualification requirements and also allows the Company to retain income generated by these businesses for reinvestment without the requirement of distributing those earnings. The non-REIT qualified businesses that the Company holds through TRSs include most of its network development services segment. In addition, the Company has included most of its international operations and managed networks business within its TRSs. | ||||||||||||
As a REIT, the Company generally will not be subject to federal income taxes on its income and gains that the Company distributes to its stockholders, including the income derived from leasing space on its towers. However, even as a REIT, the Company will remain obligated to pay income taxes on earnings from its TRS operations. In addition, the Company’s international assets and operations, including those designated as qualified REIT subsidiaries or other disregarded entities (collectively, “QRSs”), continue to be subject to taxation in the foreign jurisdictions where those assets are held or those operations are conducted. | ||||||||||||
The Company may, from time to time, change the election of previously designated TRSs that hold certain of its operations to be treated as QRSs, and may reorganize and transfer certain assets or operations from its TRSs to other subsidiaries, including QRSs. The Company changed the previous TRS election for certain of its Mexican subsidiaries to be treated as QRSs as of March 1, 2013. In addition, the Company restructured certain of its domestic TRSs to be treated as QRSs as of January 1, 2014. | ||||||||||||
Principles of Consolidation and Basis of Presentation | ' | |||||||||||
Principles of Consolidation and Basis of Presentation—The accompanying consolidated financial statements include the accounts of the Company and those entities in which it has a controlling interest. Investments in entities that the Company does not control are accounted for using the equity or cost method, depending upon the Company’s ability to exercise significant influence over operating and financial policies. All intercompany accounts and transactions have been eliminated. | ||||||||||||
Significant Accounting Policies and Use of Estimates | ' | |||||||||||
Significant Accounting Policies and Use of Estimates—The 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 consolidated 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, rent expense, stock-based compensation, income taxes and accounting for business combinations. 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. | ||||||||||||
Change In Presentation | ' | |||||||||||
Changes in Presentation—Changes have been made to the presentation of certain footnotes as of December 31, 2012 to conform to the current year presentat | ||||||||||||
Concentration of Credit Risk | ' | |||||||||||
Concentrations of Credit Risk—The Company is subject to concentrations of credit risk related to its cash and cash equivalents, notes receivable, accounts receivable, deferred rent asset and derivative financial instruments. The Company mitigates its risk with respect to cash and cash equivalents and derivative financial 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, corresponding accounts receivable and the related deferred rent asset from a relatively small number of tenants in the telecommunications industry, and approximately 55% of its current year revenues are derived from four tenants. In addition, the Company has concentrations of credit risk in certain geographic areas. | ||||||||||||
The Company mitigates its concentrations of credit risk with respect to notes and trade receivables and the related deferred rent assets by actively monitoring the credit worthiness of its borrowers and tenants. In recognizing customer revenue, the Company must assess the collectibility of both the amounts billed and the portion recognized in advance of billing on a straight-line basis. This assessment takes tenant credit risk and business and industry conditions into consideration to ultimately determine the collectibility of the amounts billed. To the extent the amounts, based on management’s estimates, may not be collectible, recognition is deferred until such point as collectibility is determined to be reasonably assured. Any amounts that were previously recognized as revenue and subsequently determined to be uncollectible are charged to bad debt expense included in Selling, general, administrative and development expense in the accompanying consolidated statements of operations. | ||||||||||||
Accounts receivable is reported net of allowances for doubtful accounts related to estimated losses resulting from a tenant’s inability to make required payments and allowances for amounts invoiced whose collectibility is not reasonably assured. These allowances are generally estimated based on payment patterns, days past due and collection history, and incorporate changes in economic conditions that may not be reflected in historical trends, such as tenants in bankruptcy, liquidation or reorganization. Receivables are written-off against the allowances when they are determined to be uncollectible. Such determination includes analysis and consideration of the particular conditions of the account. Changes in the allowances were as follows for the years ended December 31, (in thousands): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Balance as of January 1 | $ | 20,406 | $ | 24,412 | $ | 22,505 | ||||||
Current year increases | 7,025 | 8,028 | 17,008 | |||||||||
Write-offs, net of recoveries and other | (7,536 | ) | (12,034 | ) | (15,101 | ) | ||||||
Balance as of December 31 | $ | 19,895 | $ | 20,406 | $ | 24,412 | ||||||
Functional Currency | ' | |||||||||||
Functional Currency—The functional currency of the Company’s foreign operating subsidiaries is the respective local currency, except for Costa Rica and Panama, where the functional currency is the U.S. Dollar. All foreign currency assets and liabilities held by the subsidiaries are translated into U.S. Dollars at the exchange rate in effect at the end of the applicable fiscal reporting period. All foreign currency revenues and expenses are translated at the average monthly exchange rates. The cumulative translation effect is included in equity as a component of Accumulated other comprehensive income (loss). Foreign currency transaction gains and losses are recognized in the consolidated statements of operations and are the result of transactions of a subsidiary being denominated in a currency other than its functional currency. In addition, intercompany notes with balances denominated in a currency other than the subsidiary’s functional currency, with the exception of those whose payment is not planned or anticipated in the foreseeable future, are subject to remeasurement based on the exchange rate in effect at the end of the reporting period. The effect of this remeasurement is recorded as an unrealized gain or loss prior to repayment and is reflected in Other expense (income) in the consolidated statements of operations. | ||||||||||||
Cash and Cash Equivalents | ' | |||||||||||
Cash and Cash Equivalents—Cash and cash equivalents include cash on hand, demand deposits and short-term investments, including money market funds, with remaining maturities of three months or less when acquired, whose cost approximates fair value. | ||||||||||||
Restricted Cash | ' | |||||||||||
Restricted Cash—The Company classifies as restricted cash all cash pledged as collateral to secure obligations and all cash whose use is otherwise limited by contractual provisions, including cash on deposit in reserve accounts relating to the Secured Tower Revenue Securities, Series 2013-1A and Series 2013-2A issued in the Company’s securitization transaction (the “Securities”), the Secured Cellular Site Revenue Notes, Series 2010-1 Class C, Series 2010-2 Class C and Series 2010-2 Class F (collectively, the “Unison Notes”), assumed by the Company as a result of the acquisition of certain legal entities from Unison Holdings, LLC and Unison Site Management II, L.L.C. (collectively, “Unison”), and six series, consisting of eleven separate classes, of Secured Tower Revenue Notes (collectively, the “GTP Notes”) assumed by the Company as a result of the Company’s acquisition of MIP Tower Holdings LLC (see note 6). | ||||||||||||
Short-Term Investments | ' | |||||||||||
Short-Term Investments—Short-term investments include highly-liquid investments with original maturities in excess of three months when acquired. | ||||||||||||
Property and Equipment | ' | |||||||||||
Property and Equipment—Property and equipment is recorded at cost or, in the case of acquired properties, at estimated fair value on the date acquired. Cost for self-constructed towers includes direct materials and labor, capitalized interest and certain indirect costs associated with construction of the tower, such as transportation costs, employee benefits and payroll taxes. The Company begins the capitalization of costs during the pre-construction period, which is the period during which costs are incurred to evaluate the site, and continues to capitalize costs until the tower is substantially completed and ready for occupancy by a tenant. Labor costs capitalized for the years ended December 31, 2013, 2012 and 2011 were $44.1 million, $41.6 million and $35.6 million, respectively. Interest costs capitalized for the years ended December 31, 2013, 2012 and 2011 were $1.8 million, $1.9 million and $2.1 million, respectively. | ||||||||||||
Expenditures for repairs and maintenance are expensed as incurred. Augmentation and improvements that extend an asset’s useful life or enhance capacity are capitalized. | ||||||||||||
Depreciation is recorded using the straight-line method over the assets’ estimated useful lives. Towers and related 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, taking into consideration lease renewal options and residual value. | ||||||||||||
Towers or assets acquired through capital leases are reflected in Property and equipment, net at the present value of future minimum lease payments or the fair value of the leased asset at the inception of the lease. Property and equipment, network location intangibles and assets held under capital leases are amortized over the shorter of the applicable lease term or the estimated useful life of the respective assets for periods generally not exceeding twenty years. | ||||||||||||
Goodwill and Other Intangible Assets | ' | |||||||||||
Goodwill and Other Intangible Assets—The Company reviews goodwill for impairment at least annually (as of December 31) or whenever events or circumstances indicate the carrying value of an asset may not be recoverable. | ||||||||||||
The Company’s goodwill is recorded in its domestic and international rental and management segments and network development services segment. The Company utilizes the two-step impairment test when testing goodwill for impairment and employs a discounted cash flow analysis. | ||||||||||||
The key assumptions utilized in the discounted cash flow analysis include current operating performance, terminal sales growth rate, management’s expectations of future operating results and cash requirements, the current weighted average cost of capital, and an expected tax rate. Under the first step of this test, the Company compares the fair value of the reporting unit, as calculated under an income approach using future discounted cash flows, to the carrying value of the applicable reporting unit. If the carrying value exceeds the fair value, the Company conducts the second step of this test, in which the implied fair value of the applicable reporting unit’s goodwill is compared to the carrying amount of that goodwill. If the carrying amount of goodwill exceeds its implied fair value, an impairment loss would be recognized for the amount of the excess. | ||||||||||||
During the years ended December 31, 2013, 2012 and 2011, no potential impairment was identified under the first step of the test as the fair value of each of the reporting units was in excess of its carrying value. | ||||||||||||
Intangible assets that are separable from goodwill and are deemed to have a definite life are amortized over their useful lives, generally ranging from three to twenty years and are evaluated separately for impairment at least annually or whenever events or circumstances indicate that the carrying value of an asset may not be recoverable. | ||||||||||||
Deferred Rent Asset | ' | |||||||||||
Deferred Rent Asset—The Company’s deferred rent asset is associated with non-cancellable tenant leases that contain fixed escalation clauses over the terms of the applicable lease in which revenue is recognized on a straight-line basis over the lease term. | ||||||||||||
Notes Receivable and Other Non-Current Assets | ' | |||||||||||
Notes Receivable and Other Non-Current Assets—Notes receivable and other non-current assets primarily consists of prepaid ground lease assets, value added tax receivable, notes receivable from TV Azteca, long-term deposits, favorable leasehold interests and other non-current assets. | ||||||||||||
Derivatives Financial Instruments | ' | |||||||||||
Derivative Financial Instruments—Derivatives are recorded on the consolidated balance sheet at fair value. If a derivative is designated as a cash flow hedge, the effective portions of changes in the fair value of the derivative are recorded in Accumulated other comprehensive income (loss) and are recognized in the results of operations when the hedged item affects earnings. Ineffective portions of changes in the fair value of cash flow hedges are recognized in the results of operations. For derivative instruments not designated as hedging instruments, changes in fair value are recognized in the results of operations in the period that the change occurs. | ||||||||||||
The primary risk managed through the use of derivative instruments is interest rate risk. From time to time, the Company enters into interest rate swap 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. Under these agreements, the Company is exposed to credit risk to the extent that a counterparty fails to meet the terms of a contract. The Company’s credit risk exposure is limited to the current value of the contract at the time the counterparty fails to perform. The Company may also enter into forward starting interest rate swap agreements and treasury lock agreements, which the Company designates as cash flow hedges, to manage exposure to variability in cash flows relating to forecasted interest payments in connection with the likely issuance of new fixed rate debt. Settlement gains and losses on terminations of these forward starting interest rate swap agreements are recorded in other comprehensive income (loss) and amortized to interest expense over the term of the newly issued debt. | ||||||||||||
The Company assesses, both at the inception of the hedge and on an ongoing basis, whether the derivatives that are used in hedging transactions are highly effective in offsetting changes in cash flows of hedged items. The Company does not hold derivatives for trading purposes. | ||||||||||||
The Company may also enter into foreign currency financial instruments in anticipation of future transactions in order to minimize the risk of currency fluctuations. These transactions do not typically qualify for hedge accounting, and as a result, the associated gains and losses are recognized in Other income (expense) in the consolidated statements of operations. | ||||||||||||
Fair Value Measurements | ' | |||||||||||
Fair Value Measurements—The Company determines the fair value of its financial instruments based on the fair value hierarchy, which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. | ||||||||||||
Discount and Premium on Notes | ' | |||||||||||
Discount and Premium on Notes—The Company amortizes the discounts and premiums on its notes using the effective interest method over the term of the obligation. Such amortization is reflected in Interest expense and Interest income, TV Azteca, net in the accompanying consolidated statements of operations. | ||||||||||||
Asset Retirement Obligations | ' | |||||||||||
Asset Retirement Obligations—The Company has certain obligations related to tower assets, which are principally obligations to remediate leased land on which certain of the Company’s tower assets are located, that require the recognition of an asset retirement obligation. The fair value of asset retirement obligations associated with an entity’s obligation to retire tangible long-lived assets is recognized in the period in which it is incurred and can be reasonably estimated. Such asset retirement costs are capitalized as part of the carrying amount of the related long-lived asset and depreciated over the asset’s estimated useful life. Fair value estimates of asset retirement obligations generally involve discounting of estimated future cash flows. Periodic accretion of such liabilities due to the passage of time is included in Depreciation, amortization and accretion in the consolidated statements of operations. Adjustments are also made to the asset retirement obligation liability to reflect changes in the estimates of timing and amount of expected cash flows, with an offsetting adjustment made to the related tangible long-lived asset. | ||||||||||||
The significant assumptions used in estimating the Company’s aggregate asset retirement obligation are: timing of tower removals; cost of tower removals; timing and number of land lease renewals; expected inflation rates; and credit-adjusted, risk-free interest rates that approximate the Company’s incremental borrowing rate. | ||||||||||||
Income Taxes | ' | |||||||||||
Income Taxes—As a REIT, the Company is generally not subject to federal income taxes on income and gains distributed to the Company’s stockholders. However, the Company remains obligated to pay income taxes on earnings from domestic TRSs. In addition, the Company’s international assets and operations continue to be subject to taxation in the foreign jurisdictions where those assets are held or where those operations are conducted, including those designated as QRSs for federal income tax purposes. Accordingly, the consolidated financial statements reflect provisions for federal, state, local and foreign income taxes. The Company recognizes deferred tax assets and liabilities for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis, as well as operating loss and tax credit carryforwards. The Company measures deferred tax assets and liabilities using enacted tax rates expected to apply to taxable income in the years in which those temporary differences and carryforwards are expected to be recovered or settled. The effect on deferred tax assets and liabilities as a result of a change in tax rates is recognized in income in the period that includes the enactment date. | ||||||||||||
The Company provides valuation allowances if, based on the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized within a reasonable period of time. The Company also periodically reviews its valuation allowances on deferred tax assets to reduce the deferred tax asset to the amount that management believes is more likely than not to be realized. | ||||||||||||
The Company classifies uncertain tax positions as non-current income tax liabilities unless expected to be paid within one year. The Company reports penalties and tax-related interest expense as a component of the income tax provision and interest income from tax refunds as a component of Other income in the consolidated statements of operations. | ||||||||||||
Other Comprehensive Income (Loss) | ' | |||||||||||
Other Comprehensive Income (Loss)—Other comprehensive income (loss) refers to revenues, expenses, gains and losses that are included in other comprehensive income (loss), but excluded from net income, as these amounts are recorded directly as an adjustment to equity, net of tax. The Company’s other comprehensive income (loss) is primarily comprised of changes in fair value of effective derivative cash flow hedges, unrealized losses in available-for-sale securities, foreign currency translation adjustments and reclassification of unrealized losses on effective derivative cash flow hedges and available-for-sale securities. | ||||||||||||
Treasury Stock | ' | |||||||||||
Treasury Stock—The Company records treasury stock purchases using the cost method, whereby the purchase price, including legal costs and commissions, is recorded in a contra equity account, Treasury stock. The equity accounts from which the shares were originally issued are not adjusted for any treasury stock purchases unless and until such time as the shares are formally retired or reissued. As part of the Company’s conversion to a REIT, all treasury stock outstanding at the time was retired. | ||||||||||||
Distributions | ' | |||||||||||
Distributions—During the year ended December 31, 2011, the Company paid a one-time special cash distribution to its stockholders of approximately $137.8 million, or $0.35 per share, of earnings and profits accumulated during the years it was taxed as a C corporation, in anticipation of commencing to operate as a REIT effective January 1, 2012. As a REIT, the Company must annually distribute to its stockholders an amount equal to at least 90% of its REIT taxable income (determined before the deduction for distributed earnings and excluding any net capital gain). During the years ended December 31, 2013 and 2012, the Company declared and paid distributions of its REIT taxable income of an aggregate of $434.5 million or $1.10 per share and $355.6 million, or $0.90 per share, respectively. The amount, timing and frequency of future distributions will be at the sole discretion of the Board of Directors and will be declared based upon various factors, a number of which may be beyond the Company’s control, including the financial condition and operating cash flows, the amount required to maintain REIT status and reduce any income and excise taxes that the Company otherwise would be required to pay, limitations on distributions in our existing and future debt instruments, the Company’s ability to utilize net operating losses (“NOLs”) to offset, in whole or in part, the Company’s distribution requirements, limitations on its ability to fund distributions using cash generated through its TRSs and other factors that the Board of Directors may deem relevant. | ||||||||||||
Acquisitions | ' | |||||||||||
Acquisitions—For transactions that meet the definition of a business combination, the Company allocates the purchase price, including any contingent consideration, to the assets acquired and the liabilities assumed at their estimated fair values as of the date of the acquisition with any excess of the purchase price paid over the estimated fair value of net assets acquired recorded as goodwill. For transactions that do not meet the definition of a business combination, the Company first allocates the purchase price to property and equipment for the fair value of the towers and to identifiable intangible assets (primarily acquired customer-related and network location intangibles). The fair value of the assets acquired and liabilities assumed is typically determined by using either estimates of replacement costs or discounted cash flow valuation methods. When determining the fair value of tangible assets acquired, the Company must estimate the cost to replace the asset with a new asset, adjusted for an estimated reduction in fair value due to depreciation, and the economic useful life. When determining the fair value of intangible assets acquired, the Company must estimate the applicable discount rate and the timing and amount of future cash flows. The determination of the final purchase price and the acquisition-date fair value of identifiable assets acquired and liabilities assumed may extend over more than one period and result in adjustments to the preliminary estimate recognized in the prior period financial statements. | ||||||||||||
Revenue Recognition | ' | |||||||||||
Revenue Recognition—Rental and management revenues are recognized on a monthly basis under lease or management agreements when earned and when collectibility is reasonably assured. Fixed escalation clauses present in non-cancellable lease agreements, excluding those tied to the Consumer Price Index (“CPI”) or other inflation-based indices, and other incentives present in lease agreements with the Company’s tenants are recognized on a straight-line basis over the fixed, non-cancellable terms of the applicable leases and included in the Deferred rent asset on the accompanying consolidated balance sheets. Total rental and management straight-line revenues for the years ended December 31, 2013, 2012 and 2011 approximated $147.7 million, $165.8 million and $144.0 million, respectively. Amounts billed upfront in connection with the execution of lease agreements are initially deferred and recognized as revenue over the initial terms of the applicable leases. Amounts billed or received prior to being earned are deferred and reflected in Unearned revenue in the accompanying consolidated balance sheets until the criteria for recognition have been met. | ||||||||||||
Network development services revenues are derived under contracts or arrangements with customers that provide for billings either on a fixed price basis or a variable price basis, which includes factors such as time and expenses. Revenues are recognized as services are performed. Amounts billed or received for services prior to being earned are deferred and reflected in Unearned revenue in the accompanying consolidated balance sheets until the criteria for recognition have been met. | ||||||||||||
Rent Expense | ' | |||||||||||
Rent Expense—Many of the leases underlying the Company’s tower sites have fixed rent escalations, which provide for periodic increases in the amount of ground rent payable by the Company over time. The Company calculates straight-line ground rent expense for these leases based on the fixed non-cancellable term of the underlying ground lease plus all periods, if any, for which failure to renew the lease imposes an economic penalty to the Company such that renewal appears to be reasonably assured. Certain of the Company’s tenant leases require the Company to exercise available renewal options pursuant to the underlying ground lease if the tenant exercises its renewal option. For towers with these types of tenant leases at the inception of the ground lease, the Company calculates its straight-line ground rent over the term of the ground lease, including all renewal options required to fulfill the tenant lease obligation. | ||||||||||||
Total rental and management straight-line ground rent expense for the years ended December 31, 2013, 2012 and 2011 approximated $29.7 million, $33.7 million and $31.0 million, respectively. In addition to the straight-line ground rent expense recorded by the Company, the Company also records its straight-line rent liability in Other non-current liabilities and records prepaid ground rent in Prepaid and other current assets and Notes receivable and other non-current assets in the accompanying consolidated balance sheets. | ||||||||||||
Selling, General, Administrative and Development Expense | ' | |||||||||||
Selling, General, Administrative and Development Expense—Selling, general and administrative expense consists of overhead expenses related to the Company’s rental and management and services operations and corporate overhead costs not specifically allocable to any of the Company’s individual business operations. Development expense consists of costs related to the Company’s acquisition efforts, costs associated with new business initiatives and abandoned site and acquisition costs. | ||||||||||||
Stock-based Compensation | ' | |||||||||||
Stock-Based Compensation—Stock-based compensation cost is measured at the accounting measurement date based on the fair value of the award and is recognized as an expense over the service period, which generally represents the vesting period. Effective January 1, 2013, the Company’s Compensation Committee adopted a death, disability and retirement benefits program in connection with equity awards granted on or after January 1, 2013 that provides for accelerated vesting and extended exercise periods of stock options and restricted stock units upon an employee’s death or permanent disability, or upon an employee’s qualified retirement, provided certain eligibility criteria are met. Accordingly, for grants made on or after January 1, 2013, the Company recognizes compensation expense for all stock-based compensation over the shorter of (i) the four-year vesting period or (ii) the period from the date of grant to the date the employee becomes eligible for such retirement benefits, which may occur upon grant. The expense recognized over the service period includes an estimate of awards that will not fully vest and be forfeited. The Company calculates the fair value of stock options using the Black-Scholes option-pricing model and the fair value of restricted stock units based on the fair value of the units at the grant date. The Company’s stock-based compensation expense is recognized in either Selling, general, administrative and development expense, costs of operations or capitalized as part of the Company’s cost to construct tower assets. | ||||||||||||
Litigation Costs | ' | |||||||||||
Litigation Costs—The Company periodically becomes involved in various claims and lawsuits that are incidental to its business. The Company regularly monitors the status of pending legal actions to evaluate both the magnitude and likelihood of any potential loss. The Company accrues for these potential losses when it is probable that a liability has been incurred and the amount of loss, or possible range of loss, can be reasonably estimated. Should the ultimate losses on contingencies or litigation vary from estimates, adjustments to those liabilities may be required. The Company also incurs legal costs in connection with these matters and records estimates of these expenses, which are reflected in Selling, general, administrative and development expense in the accompanying consolidated statements of operations. | ||||||||||||
Other Operating Expenses | ' | |||||||||||
Other Operating Expenses—Other operating expenses includes the costs incurred by the Company in conjunction with acquisitions and mergers (including changes in estimated fair value of contingent consideration), impairments on long-lived assets and gains and losses recognized upon the disposal of long-lived assets and other discrete items of a non-recurring nature. | ||||||||||||
The Company reviews long-lived assets, including intangible assets subject to amortization, for impairment whenever events, changes in circumstances or other evidence indicate that the carrying amount of the Company’s assets may not be recoverable. | ||||||||||||
The Company reviews its tower portfolio and network location intangible assets for indications of impairment on an individual tower basis. Impairments primarily result from a tower not having current tenant leases or from having expenses in excess of revenues. The Company monitors its customer-related intangible assets on a customer by customer basis for indicators of impairment, such as high levels of turnover or attrition, non-renewal of a significant number of contracts, or the cancellation or termination of a relationship. The Company assesses recoverability by determining whether the carrying value of the related assets will be recovered, either through projected undiscounted future cash flows or anticipated proceeds from sales of the assets. If the Company determines that the carrying value of an asset may not be recoverable, the Company will measure any impairment loss based on the projected future discounted cash flows to be provided from the asset or available market information relative to the asset’s fair value, as compared to the asset’s carrying value. The Company records any related impairment charge in the period in which the Company identifies such impairment. | ||||||||||||
Loss on Retirement of Long-Term Obligations | ' | |||||||||||
Loss on Retirement of Long-Term Obligations—Loss on retirement of long-term obligations primarily includes cash paid to retire debt in excess of its carrying value and non-cash charges related to the write-off of deferred financing fees. | ||||||||||||
Earnings Per Common Share-Basic and Diluted | ' | |||||||||||
Earnings Per Common Share—Basic and Diluted—Basic income from continuing operations per common share represents income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period. Diluted income from continuing operations per common share represents income from continuing operations attributable to American Tower Corporation divided by the weighted average number of common shares outstanding during the period and any dilutive common share equivalents, including unvested restricted stock and shares issuable upon exercise of stock options as determined under the treasury stock method. Dilutive common share equivalents also include the dilutive impact of the Verizon transaction (see note 19). | ||||||||||||
Retirement Plan | ' | |||||||||||
Retirement Plan—The Company has a 401(k) plan covering substantially all employees who meet certain age and employment requirements. For the year ended December 31, 2013, the Company matched 75% of the first 6% of a participant’s contributions. The Company’s matching contribution for the years ended December 31, 2012 and 2011 was 50% of the first 6% of a participant’s contributions. For the years ended December 31, 2013, 2012 and 2011, the Company contributed approximately $6.0 million, $4.4 million and $2.9 million to the plan, respectively | ||||||||||||
Recently Adopted Accounting Standards | ' | |||||||||||
Recently Adopted Accounting Standards—In February 2013, the Financial Accounting Standards Board (the “FASB”) issued additional guidance on comprehensive income which adds new disclosure requirements for items reclassified out of accumulated other comprehensive income (“AOCI”) by component. This guidance enhances the transparency of changes in other comprehensive income (“OCI”) and items transferred out of AOCI in the financial statements and it does not amend any existing requirements for reporting net income or OCI in the financial statements. Since the guidance relates only to presentation and disclosure of information, the adoption did not have a material effect on the Company’s financial statements. | ||||||||||||
In February 2013, the FASB issued guidance that clarifies the scope of transactions subject to disclosures about offsetting assets and liabilities. The guidance requires an entity to disclose information about offsetting and related arrangements to enable users of its financial statements to understand the effect of those arrangements on its financial position. This guidance is effective for annual and interim reporting periods beginning on or after January 1, 2013 on a retrospective basis. Since the guidance relates only to presentation and disclosure of information, the adoption did not have a material effect on the Company’s financial statements. | ||||||||||||
In July 2013, the FASB issued guidance that requires an unrecognized tax benefit, or a portion of an unrecognized tax benefit, to be presented in the financial statements as a reduction to a deferred tax asset for a net operating loss carryforward, a similar tax loss, or a tax credit carryforward, with certain exceptions. The amendment is effective for fiscal years, and interim periods within those years, beginning after December 15, 2013, with early adoption permitted. The adoption of this guidance did not have a material effect on the Company’s financial statements. |
Business_and_Summary_of_Signif2
Business and Summary of Significant Accounting Policies (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ' | |||||||||||
Changes in allowances | ' | |||||||||||
Changes in the allowances were as follows for the years ended December 31, (in thousands): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Balance as of January 1 | $ | 20,406 | $ | 24,412 | $ | 22,505 | ||||||
Current year increases | 7,025 | 8,028 | 17,008 | |||||||||
Write-offs, net of recoveries and other | (7,536 | ) | (12,034 | ) | (15,101 | ) | ||||||
Balance as of December 31 | $ | 19,895 | $ | 20,406 | $ | 24,412 | ||||||
Recovered_Sheet1
Prepaid And Other Current Assets (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Prepaid Expense and Other Assets, Current [Abstract] | ' | |||||||
Prepaid and other current assets | ' | |||||||
Prepaid and other current assets consists of the following as of December 31, (in thousands): | ||||||||
2013 | 2012 (1) | |||||||
Prepaid operating ground leases | $ | 82,950 | $ | 56,916 | ||||
Value added tax and other consumption tax receivables | 78,262 | 22,443 | ||||||
Prepaid income tax | 52,612 | 57,665 | ||||||
Prepaid assets | 34,243 | 19,037 | ||||||
Unbilled receivables | 25,412 | 32,588 | ||||||
Other miscellaneous current assets | 40,588 | 34,350 | ||||||
Balance as of December 31, | $ | 314,067 | $ | 222,999 | ||||
(1) December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. |
Property_and_Equipment_Tables
Property and Equipment (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Property, Plant and Equipment [Abstract] | ' | |||||||||
Property and equipment | ' | |||||||||
Property and equipment (including assets held under capital leases) consists of the following as of December 31, (in thousands): | ||||||||||
Estimated | 2013 | 2012 (2) | ||||||||
Useful Lives (years) (1) | ||||||||||
Towers | Up to 20 | $ | 7,936,622 | $ | 6,886,611 | |||||
Equipment | 15-Mar | 767,738 | 562,403 | |||||||
Buildings and improvements | Mar-32 | 660,885 | 423,639 | |||||||
Land and improvements (3) | Up to 20 | 1,392,414 | 1,023,175 | |||||||
Construction-in-progress | 171,244 | 151,289 | ||||||||
Total | 10,928,903 | 9,047,117 | ||||||||
Less accumulated depreciation and amortization | (3,666,728 | ) | (3,281,261 | ) | ||||||
Property and equipment, net | $ | 7,262,175 | $ | 5,765,856 | ||||||
(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 taking into | ||||||||||
consideration lease renewal options and residual value. | ||||||||||
(2) December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. | ||||||||||
(3) Estimated useful lives apply to land improvements only. |
Goodwill_and_Other_Intangible_1
Goodwill and Other Intangible Assets (Tables) | 12 Months Ended | ||||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||||
Goodwill and Intangible Assets Disclosure [Abstract] | ' | ||||||||||||||||||||||||||
Changes in the carrying value of goodwill | ' | ||||||||||||||||||||||||||
The changes in the carrying value of goodwill for the Company’s business segments are as follows (in thousands): | |||||||||||||||||||||||||||
Rental and Management | Network | Total | |||||||||||||||||||||||||
Development | |||||||||||||||||||||||||||
Domestic | International | Services | |||||||||||||||||||||||||
Balance as of January 1, 2013 (1) | $ | 2,320,571 | $ | 520,072 | $ | 2,000 | $ | 2,842,643 | |||||||||||||||||||
Additions (2) | 812,091 | 127,585 | — | 939,676 | |||||||||||||||||||||||
Effect of foreign currency translation | — | (52,418 | ) | — | (52,418 | ) | |||||||||||||||||||||
Balance as of December 31, 2013 | $ | 3,132,662 | $ | 595,239 | $ | 2,000 | $ | 3,729,901 | |||||||||||||||||||
(1) Balances have been revised to reflect purchase accounting measurement period adjustments. | |||||||||||||||||||||||||||
-2 | Domestic and international rental and management segments include approximately $807.7 million and $67.3 million, respectively, of goodwill related to the Company’s acquisition of MIP Tower Holdings LLC (see note 6). | ||||||||||||||||||||||||||
Finite Intangible Assets | ' | ||||||||||||||||||||||||||
The Company’s other intangible assets subject to amortization consist of the following: | |||||||||||||||||||||||||||
As of December 31, 2013 | As of December 31, 2012 (1) | ||||||||||||||||||||||||||
Estimated Useful | Gross | Accumulated | Net Book | Gross | Accumulated | Net Book | |||||||||||||||||||||
Lives | Carrying | Amortization | Value | Carrying | Amortization | Value | |||||||||||||||||||||
Value | Value | ||||||||||||||||||||||||||
(years) | (in thousands) | ||||||||||||||||||||||||||
Acquired network location (2) | Up to 20 | $ | 2,365,474 | $ | (791,359 | ) | $ | 1,574,115 | $ | 1,703,047 | $ | (721,135 | ) | $ | 981,912 | ||||||||||||
Acquired customer-related intangibles | 15-20 | 6,201,868 | (1,170,239 | ) | 5,031,629 | 3,133,603 | (979,264 | ) | 2,154,339 | ||||||||||||||||||
Acquired licenses and other intangibles | 20-Mar | 6,583 | (2,297 | ) | 4,286 | 26,079 | (20,835 | ) | 5,244 | ||||||||||||||||||
Economic Rights, TV Azteca | 70 | 28,783 | (14,229 | ) | 14,554 | 28,954 | (13,902 | ) | 15,052 | ||||||||||||||||||
Total | $ | 8,602,708 | $ | (1,978,124 | ) | $ | 6,624,584 | $ | 4,891,683 | $ | (1,735,136 | ) | $ | 3,156,547 | |||||||||||||
Deferred financing costs, net (3) | N/A | 76,875 | 49,538 | ||||||||||||||||||||||||
Other intangible assets, net | $ | 6,701,459 | $ | 3,206,085 | |||||||||||||||||||||||
-1 | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. | ||||||||||||||||||||||||||
-2 | Acquired network location intangibles are amortized over the shorter of the term of the corresponding ground lease taking into consideration lease renewal options and residual value or up to 20 years, as the Company considers these intangibles to be directly related to the tower assets. | ||||||||||||||||||||||||||
-3 | Deferred financing costs are amortized over the term of the respective debt instruments to which they relate using the effective interest method. This amortization is included in interest expense, rather than in amortization expense. | ||||||||||||||||||||||||||
Expected future amortization expenses | ' | ||||||||||||||||||||||||||
Year Ending December 31, | |||||||||||||||||||||||||||
2014 | $ | 426.1 | |||||||||||||||||||||||||
2015 | 423.3 | ||||||||||||||||||||||||||
2016 | 420.5 | ||||||||||||||||||||||||||
2017 | 418 | ||||||||||||||||||||||||||
2018 | 415.8 | ||||||||||||||||||||||||||
Notes_Receivable_and_Other_Non1
Notes Receivable and Other Non-current Assets (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Notes Receivable And Other Long Term Assets [Abstract] | ' | |||||||
Notes receivable and other non-current assets | ' | |||||||
Notes receivable and other non-current assets consists of the following as of December 31, (in thousands): | ||||||||
2013 | 2012 | |||||||
Long-term prepaid ground rent | $ | 176,313 | $ | 158,935 | ||||
Notes receivable | 89,381 | 114,256 | ||||||
Other miscellaneous assets | 179,310 | 179,597 | ||||||
Balance as of December 31, | $ | 445,004 | $ | 452,788 | ||||
Acquisitions_Tables
Acquisitions (Tables) | 12 Months Ended | |||||||||||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||||||||||
Business Combination, Description [Abstract] | ' | |||||||||||||||||||||||||||
Fair value of consideration transferred | ' | |||||||||||||||||||||||||||
The consideration transferred consists of the following (in thousands): | ||||||||||||||||||||||||||||
Cash consideration (1) | $ | 3,330,462 | ||||||||||||||||||||||||||
Assumption of existing indebtedness at historical cost | 1,527,621 | |||||||||||||||||||||||||||
Estimated total purchase price | $ | 4,858,083 | ||||||||||||||||||||||||||
-1 | Cash consideration includes $14.5 million of an additional purchase price adjustment which was paid to the sellers subsequent to December 31, 2013. The $14.5 million is reflected in Accrued expenses on the consolidated balance sheet as of December 31, 2013. | |||||||||||||||||||||||||||
Schedule of aggregate purchase consideration paid and the amount of assets acquired | ' | |||||||||||||||||||||||||||
The following table summarizes the preliminary allocation of the aggregate purchase price paid and the amounts of assets acquired and liabilities assumed for the MIPT acquisition based upon their estimated fair value at the date of acquisition (in thousands). Balances are reflected in the accompanying consolidated balance sheets as of December 31, 2013. | ||||||||||||||||||||||||||||
Cash and cash equivalents | $ | 35,967 | ||||||||||||||||||||||||||
Restricted cash | 30,883 | |||||||||||||||||||||||||||
Accounts receivable, net | 10,021 | |||||||||||||||||||||||||||
Prepaid and other current assets | 22,875 | |||||||||||||||||||||||||||
Property and equipment | 996,901 | |||||||||||||||||||||||||||
Intangible assets (1): | ||||||||||||||||||||||||||||
Customer-related intangible assets | 2,629,188 | |||||||||||||||||||||||||||
Network location intangible assets | 467,300 | |||||||||||||||||||||||||||
Notes receivable and other non-current assets | 4,220 | |||||||||||||||||||||||||||
Accounts payable | (9,249 | ) | ||||||||||||||||||||||||||
Accrued expenses | (37,004 | ) | ||||||||||||||||||||||||||
Accrued interest | (3,253 | ) | ||||||||||||||||||||||||||
Current portion of long-term obligations | (2,820 | ) | ||||||||||||||||||||||||||
Unearned revenue | (35,753 | ) | ||||||||||||||||||||||||||
Long-term obligations (2) | (1,573,366 | ) | ||||||||||||||||||||||||||
Asset retirement obligations | (43,089 | ) | ||||||||||||||||||||||||||
Other non-current liabilities | (37,326 | ) | ||||||||||||||||||||||||||
Fair value of net assets acquired | $ | 2,455,495 | ||||||||||||||||||||||||||
Goodwill (3) | 874,967 | |||||||||||||||||||||||||||
-1 | Customer-related intangible assets and network location intangible assets are amortized on a straight-line basis over periods of up to 20 years. | |||||||||||||||||||||||||||
-2 | Long-term obligations included $1.5 billion of MIPT’s existing indebtedness and a fair value adjustment of $53.0 million. The fair value adjustment was based primarily on reported market values using Level 2 inputs. | |||||||||||||||||||||||||||
-3 | Goodwill was allocated to the Company’s domestic and international rental and management segments, as applicable, and the Company expects goodwill recorded will not be deductible for tax purposes | |||||||||||||||||||||||||||
The following table summarizes the updated allocation of the aggregate purchase price paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition (in thousands). Balances are reflected in the accompanying consolidated balance sheets as of December 31, 2013. | ||||||||||||||||||||||||||||
Brazil Vivo (1) | Diamond (U.S.) (1) | Germany (1) | Skyway (U.S.) (1) | Uganda (1) | Other International (1) | Other U.S. (1) | ||||||||||||||||||||||
Current assets | $ | — | $ | 842 | $ | 14,043 | $ | 530 | $ | — | $ | 21,911 | $ | — | ||||||||||||||
Non-current assets | 22,418 | — | — | — | 2,258 | 2,309 | 153 | |||||||||||||||||||||
Property and equipment | 138,959 | 70,836 | 203,494 | 60,230 | 102,366 | 66,073 | 61,091 | |||||||||||||||||||||
Intangible assets (2): | ||||||||||||||||||||||||||||
Customer-related intangible assets | 83,012 | 184,637 | 288,330 | 64,400 | 30,500 | 52,911 | 61,266 | |||||||||||||||||||||
Network location intangible assets | 40,983 | 32,152 | 21,997 | 20,500 | 26,000 | 15,935 | 16,133 | |||||||||||||||||||||
Current liabilities | — | (3,216 | ) | (2,988 | ) | (454 | ) | — | — | — | ||||||||||||||||||
Other non-current liabilities | (18,195 | ) | (3,423 | ) | (23,243 | ) | (3,233 | ) | (7,528 | ) | (6,294 | ) | (1,310 | ) | ||||||||||||||
Fair value of net assets acquired | $ | 267,177 | $ | 281,828 | $ | 501,633 | $ | 141,973 | $ | 153,596 | $ | 152,845 | $ | 137,333 | ||||||||||||||
Goodwill (3) | 43,518 | 38,298 | 24,020 | 24,212 | 15,644 | 9,844 | 8,724 | |||||||||||||||||||||
(1) The allocation of the purchase price was finalized during the year ended December 31, 2013. | ||||||||||||||||||||||||||||
(2) Customer-related intangible assets and network location intangible assets are amortized on a straight-line basis over periods of up to 20 years. | ||||||||||||||||||||||||||||
(3) Goodwill was allocated to the Company’s domestic and international rental and management segments, as applicable, and the Company expects goodwill recorded will be deductible for tax purposes, except for Uganda where goodwill is not expected to be deductible and South Africa where goodwill is expected to be partially deductible. | ||||||||||||||||||||||||||||
The following table summarizes the preliminary allocation of the aggregate purchase price paid and the amounts of assets acquired and liabilities assumed based upon their estimated fair value at the date of acquisition (in thousands). Balances are reflected in the consolidated balance sheets in the Annual Report on Form 10-K for the year ended December 31, 2012. | ||||||||||||||||||||||||||||
Brazil Vivo | Diamond (U.S.) | Germany | Skyway (U.S.) | Uganda | Other International | Other U.S. | ||||||||||||||||||||||
Current assets | $ | — | $ | 842 | $ | 14,483 | $ | 740 | $ | — | $ | 21,911 | $ | — | ||||||||||||||
Non-current assets | 24,460 | — | — | — | 2,258 | 4,196 | 153 | |||||||||||||||||||||
Property and equipment | 138,959 | 69,045 | 233,073 | 60,671 | 102,366 | 61,080 | 61,995 | |||||||||||||||||||||
Intangible assets (1): | ||||||||||||||||||||||||||||
Customer-related intangible assets | 80,010 | 171,300 | 218,146 | 63,000 | 36,500 | 49,227 | 61,966 | |||||||||||||||||||||
Network location intangible assets | 37,980 | 28,400 | 20,819 | 20,700 | 27,000 | 16,442 | 16,233 | |||||||||||||||||||||
Current liabilities | — | (3,216 | ) | (2,990 | ) | (454 | ) | — | — | — | ||||||||||||||||||
Other non-current liabilities | (18,195 | ) | (3,423 | ) | (23,243 | ) | (3,333 | ) | (7,528 | ) | (5,893 | ) | (1,310 | ) | ||||||||||||||
Fair value of net assets acquired | $ | 263,214 | $ | 262,948 | $ | 460,288 | $ | 141,324 | $ | 160,596 | $ | 146,963 | $ | 139,037 | ||||||||||||||
Goodwill (2) | 47,481 | 57,178 | 65,365 | 28,224 | 12,564 | 15,726 | 7,124 | |||||||||||||||||||||
-1 | Customer-related intangible assets and network location intangible assets are amortized on a straight-line basis over periods of up to 20 years. | |||||||||||||||||||||||||||
-2 | Goodwill was allocated to the Company’s domestic and international rental and management segments, as applicable, and the Company expects goodwill recorded will be deductible for tax purposes, except for Uganda where goodwill is not expected to be deductible and South Africa where goodwill is expected to be partially deductible. | |||||||||||||||||||||||||||
The following table summarizes the preliminary allocation of the aggregate purchase price paid and the amounts of assets acquired and liabilities assumed for the fiscal year 2013 acquisitions based upon their estimated fair value at the date of acquisition (in thousands). Balances are reflected in the accompanying consolidated balance sheets as of December 31, 2013. | ||||||||||||||||||||||||||||
Axtel Mexico (1) | NII Mexico (2) | NII Brazil | Z Sites | Other International | Other U.S. | |||||||||||||||||||||||
Current assets | $ | — | $ | 61,183 | $ | — | $ | — | $ | 4,863 | $ | 1,220 | ||||||||||||||||
Non-current assets | 2,626 | 11,969 | 4,484 | 6,157 | 1,991 | 44 | ||||||||||||||||||||||
Property and equipment | 86,100 | 147,364 | 105,784 | 24,832 | 44,844 | 23,803 | ||||||||||||||||||||||
Intangible assets (3): | ||||||||||||||||||||||||||||
Customer-related intangible assets | 119,392 | 135,175 | 149,333 | 64,213 | 20,590 | 29,325 | ||||||||||||||||||||||
Network location intangible assets | 43,031 | 63,791 | 93,867 | 17,123 | 20,727 | 7,607 | ||||||||||||||||||||||
Current liabilities | — | — | — | — | — | (454 | ) | |||||||||||||||||||||
Other non-current liabilities | (9,377 | ) | (10,478 | ) | (13,188 | ) | (1,502 | ) | (8,168 | ) | (786 | ) | ||||||||||||||||
Fair value of net assets acquired | $ | 241,772 | $ | 409,004 | $ | 340,280 | $ | 110,823 | $ | 84,847 | $ | 60,759 | ||||||||||||||||
Goodwill (4) | 6,751 | 27,928 | 8,704 | 11,953 | 4,970 | 4,403 | ||||||||||||||||||||||
-1 | The allocation of the purchase price was finalized during the year ended December 31, 2013. | |||||||||||||||||||||||||||
-2 | Current assets includes approximately $60.3 million of value added tax. | |||||||||||||||||||||||||||
-3 | Customer-related intangible assets and network location intangible assets are amortized on a straight-line basis over periods of up to 20 years. | |||||||||||||||||||||||||||
-4 | Goodwill was allocated to the Company’s domestic and international rental and management segments, as applicable, and the Company expects goodwill recorded will be deductible for tax purposes | |||||||||||||||||||||||||||
Pro forma information | ' | |||||||||||||||||||||||||||
The following pro forma information presents the financial results as if the 2013 acquisitions, including the acquisition of MIPT, had occurred on January 1, 2012 (in thousands, except per share data). Management relied on various estimates and assumptions due to the fact that some of the 2013 acquisitions never operated as a business and were utilized solely by the seller as a component of their network infrastructure. As a result, historical operating results for these acquisitions are not available. The pro forma results do not include any anticipated cost synergies, costs or other effects of the planned integration of the 2013 acquisitions. Accordingly, such pro forma amounts are not necessarily indicative of the results that actually would have occurred had the acquisitions been completed on the dates indicated, nor are they indicative of the future operating results of the Company. | ||||||||||||||||||||||||||||
Year ended December 31, | ||||||||||||||||||||||||||||
2013 | 2012 | |||||||||||||||||||||||||||
Pro forma operating revenues | $ | 3,742,170 | $ | 3,368,656 | ||||||||||||||||||||||||
Pro forma net income attributable to American Tower Corporation | $ | 458,954 | $ | 483,690 | ||||||||||||||||||||||||
Pro forma net income per common share amounts: | ||||||||||||||||||||||||||||
Basic net income attributable to American Tower Corporation | $ | 1.16 | $ | 1.23 | ||||||||||||||||||||||||
Diluted net income attributable to American Tower Corporation | $ | 1.15 | $ | 1.21 | ||||||||||||||||||||||||
Accrued_Expenses_Tables
Accrued Expenses (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Accrued Liabilities, Current [Abstract] | ' | |||||||
Schedule of accrued expenses | ' | |||||||
Accrued expenses consists of the following as of December 31, (in thousands): | ||||||||
2013 | 2012 | |||||||
Accrued property and real estate taxes | $ | 54,529 | $ | 36,814 | ||||
Accrued construction costs | 52,446 | 20,711 | ||||||
Payroll and related withholdings | 50,843 | 37,586 | ||||||
Accrued rent | 28,456 | 24,394 | ||||||
Other accrued expenses | 229,050 | 167,457 | ||||||
Balance as of December 31, | $ | 415,324 | $ | 286,962 | ||||
LongTerm_Obligations_Tables
Long-Term Obligations (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||
Long-term Debt, Excluding Current Maturities [Abstract] | ' | |||||||||||||||||
Long-term financing arrangements | ' | |||||||||||||||||
Outstanding amounts under the Company’s long-term obligations consist of the following as of December 31, (in thousands): | ||||||||||||||||||
2013 | 2012 | Contractual Interest Rate (1) | Maturity Date (1) | |||||||||||||||
American Tower subsidiary debt: | ||||||||||||||||||
Commercial Mortgage Pass-Through Certificates, Series 2007-1 | $ | — | $ | 1,750,000 | N/A | N/A | ||||||||||||
Secured Tower Revenue Securities, Series 2013-1A | 500,000 | — | 1.551 | % | March 15, 2018 (2) | |||||||||||||
Secured Tower Revenue Securities, Series 2013-2A | 1,300,000 | — | 3.07 | % | March 15, 2023 (2) | |||||||||||||
GTP Notes (3) | 1,537,881 | — | 2.364% - 8.112% | Various | ||||||||||||||
Costa Rica Loan (4) | 32,600 | — | 5.744 | % | February 16, 2019 | |||||||||||||
Unison Notes (5) | 205,436 | 207,188 | 5.349% - 9.522% | Various | ||||||||||||||
Colombian bridge loans (6) | 56,058 | 53,169 | 7.94 | % | April 22, 2014 | |||||||||||||
Mexican Loan (4)(7) | 377,470 | — | 4.04 | % | May 1, 2015 | |||||||||||||
Ghana Loan (8) | 158,327 | 130,951 | 9 | % | May 4, 2016 | |||||||||||||
Uganda Loan (4)(9) | 66,926 | 61,023 | 5.984 | % | June 29, 2019 | |||||||||||||
South African Facility (4)(10) | 88,334 | 98,456 | 8.967 | % | March 31, 2020 | |||||||||||||
Colombian Long-Term Credit Facility (4)(11) | 70,063 | 76,347 | 8.166 | % | November 30, 2020 | |||||||||||||
Colombian Loan (12) | 35,697 | 19,176 | 8.3 | % | February 22, 2022 (13) | |||||||||||||
Total American Tower subsidiary debt | 4,428,792 | 2,396,310 | ||||||||||||||||
American Tower Corporation debt: | ||||||||||||||||||
2011 Credit Facility | — | 265,000 | N/A | N/A | ||||||||||||||
2012 Credit Facility (4) | 88,000 | 992,000 | 1.795 | % | January 31, 2017 | |||||||||||||
2013 Credit Facility (4) | 1,853,000 | — | 1.42 | % | June 28, 2018 | |||||||||||||
2012 Term Loan | — | 750,000 | N/A | N/A | ||||||||||||||
2013 Term Loan (4) | 1,500,000 | — | 1.42 | % | January 3, 2019 | |||||||||||||
4.625% Notes | 599,794 | 599,638 | 4.625 | % | April 1, 2015 | |||||||||||||
7.00% Notes | 500,000 | 500,000 | 7 | % | October 15, 2017 | |||||||||||||
4.50% Notes | 999,520 | 999,414 | 4.5 | % | January 15, 2018 | |||||||||||||
3.40% Notes | 749,373 | — | 3.4 | % | February 15, 2019 | |||||||||||||
7.25% Notes | 296,748 | 296,272 | 7.25 | % | May 15, 2019 | |||||||||||||
5.05% Notes | 699,413 | 699,333 | 5.05 | % | September 1, 2020 | |||||||||||||
5.90% Notes | 499,414 | 499,356 | 5.9 | % | November 1, 2021 | |||||||||||||
4.70% Notes | 698,871 | 698,760 | 4.7 | % | March 15, 2022 | |||||||||||||
3.50% Notes | 992,520 | — | 3.5 | % | January 31, 2023 | |||||||||||||
5.00% Notes | 499,455 | — | 5 | % | February 15, 2024 | |||||||||||||
Total American Tower Corporation debt | 9,976,108 | 6,299,773 | ||||||||||||||||
Other debt, including capital lease obligations | 73,378 | 57,293 | ||||||||||||||||
Total | 14,478,278 | 8,753,376 | ||||||||||||||||
Less current portion of long-term obligations | (70,132 | ) | (60,031 | ) | ||||||||||||||
Long-term obligations | $ | 14,408,146 | $ | 8,693,345 | ||||||||||||||
(1) Represents the interest rate and maturity date as of December 31, 2013 and does not reflect the impact of interest rate swap agreements. | ||||||||||||||||||
(2) Represents anticipated repayment date. | ||||||||||||||||||
(3) Includes approximately $48.0 million of unamortized premium recorded as a result of fair value adjustments for debt assumed upon acquisition of MIPT. | ||||||||||||||||||
(4) Interest rate as of December 31, 2013. Debt accrues interest at a variable rate. | ||||||||||||||||||
(5) Includes approximately $9.4 million of unamortized premium recorded as a result of fair value adjustments recognized upon acquisition of Unison. | ||||||||||||||||||
(6) Denominated in Colombian Pesos (“COP”). As of December 31, 2013, the aggregate principal amount outstanding under the bridge loans is 108.0 billion COP. | ||||||||||||||||||
(7) Denominated in Mexican Pesos (“MXN”). As of December 31, 2013, the aggregate principal amount outstanding under the Mexican Loan is 4.9 billion MXN. | ||||||||||||||||||
(8) Includes approximately $27.4 million of capitalized accrued interest pursuant to the terms of the loan agreement. | ||||||||||||||||||
(9) Includes approximately $5.9 million of capitalized accrued interest pursuant to the terms of the loan agreement. | ||||||||||||||||||
(10) Denominated in South African Rand (“ZAR”). As of December 31, 2013, the aggregate principal amount outstanding under the South African facility is | ||||||||||||||||||
926.9 million ZAR. | ||||||||||||||||||
(11) Denominated in COP. As of December 31, 2013, the aggregate principal amount outstanding under the Colombian long-term credit facility 135.0 billion COP. | ||||||||||||||||||
(12) Includes approximately $0.5 million of capitalized accrued interest pursuant to the terms of the loan agreement. | ||||||||||||||||||
(13) Borrowings subsequent to the initial loan mature approximately ten years from the date of such borrowing. | ||||||||||||||||||
Comme | ||||||||||||||||||
Schedule of GTP securitizations | ' | |||||||||||||||||
The following table sets forth certain terms of the GTP Notes: | ||||||||||||||||||
GTP Notes | Issue Date | Original Principal Amount | Interest Rate | Anticipated Repayment Date | Final Maturity Date | |||||||||||||
(in thousands) | ||||||||||||||||||
Series 2010-1 Class C notes | February 17, 2010 | $200,000 | 4.436 | % | February 15, 2015 | February 15, 2040 | ||||||||||||
Series 2010-1 Class F notes | February 17, 2010 | $50,000 | 8.112 | % | February 15, 2015 | February 15, 2040 | ||||||||||||
Series 2011-1 Class C notes | March 11, 2011 | $70,000 | 3.967 | % | June 15, 2016 | June 15, 2041 | ||||||||||||
Series 2011-2 Class C notes | July 7, 2011 | $490,000 | 4.347 | % | June 15, 2016 | June 15, 2041 | ||||||||||||
Series 2011-2 Class F notes | July 7, 2011 | $155,000 | 7.628 | % | June 15, 2016 | June 15, 2041 | ||||||||||||
Series 2012-1 Class A notes (1) | February 28, 2012 | $100,000 | 3.721 | % | March 15, 2017 | March 15, 2042 | ||||||||||||
Series 2012-2 Class A notes (1) | February 28, 2012 | $114,000 | 4.336 | % | March 15, 2019 | March 15, 2042 | ||||||||||||
Series 2012-2 Class B notes | February 28, 2012 | $41,000 | 6.413 | % | March 15, 2019 | March 15, 2042 | ||||||||||||
Series 2012-2 Class C notes | February 28, 2012 | $27,000 | 7.358 | % | March 15, 2019 | March 15, 2042 | ||||||||||||
Series 2013-1 Class C notes | April 24, 2013 | $190,000 | 2.364 | % | May 15, 2018 | May 15, 2043 | ||||||||||||
Series 2013-1 Class F notes | April 24, 2013 | $55,000 | 4.704 | % | May 15, 2018 | May 15, 2043 | ||||||||||||
(1) Does not reflect MIPT’s repayment of approximately $1.4 million aggregate principal amount prior to the date of acquisition and the Company’s repayment of approximately $0.7 million aggregate principal amount after the date of acquisition in accordance with the repayment schedules. | ||||||||||||||||||
Schedule of debt discounts | ' | |||||||||||||||||
The following table outlines key terms related to the Company’s outstanding senior notes as of December 31, 2013: | ||||||||||||||||||
Unamortized (Discount) | ||||||||||||||||||
Aggregate Principal Amount | 2013 | 2012 | Semi-annual interest | Issue Date | Maturity Date | |||||||||||||
payments due | ||||||||||||||||||
(in thousands) | ||||||||||||||||||
4.625% Notes | $ | 600,000 | $ | (206 | ) | $ | (362 | ) | April 1 and October 1 | 20-Oct-09 | April 1, 2015 | |||||||
7.00% Notes | 500,000 | — | — | April 15 and October 15 | 1-Oct-07 | October 15, 2017 | ||||||||||||
4.50% Notes | 1,000,000 | (480 | ) | (586 | ) | January 15 and July 15 | 7-Dec-10 | January 15, 2018 | ||||||||||
3.40 % Notes | 750,000 | (627 | ) | — | February 15 and August 15 | 19-Aug-13 | February 15, 2019 | |||||||||||
7.25% Notes | 300,000 | (3,252 | ) | (3,728 | ) | May 15 and November 15 | 10-Jun-09 | May 15, 2019 | ||||||||||
5.05% Notes | 700,000 | (587 | ) | (667 | ) | March 1 and September 1 | 16-Aug-10 | September 1, 2020 | ||||||||||
5.90% Notes | 500,000 | (586 | ) | (644 | ) | May 1 and November 1 | 6-Oct-11 | November 1, 2021 | ||||||||||
4.70% Notes | 700,000 | (1,129 | ) | (1,240 | ) | March 15 and September 15 | 12-Mar-12 | March 15, 2022 | ||||||||||
3.50% Notes | 1,000,000 | (7,480 | ) | — | January 31 and July 31 | 8-Jan-13 | January 31, 2023 | |||||||||||
5.00% Notes | 500,000 | (545 | ) | — | February 15 and August 15 | 19-Aug-13 | February 15, 2024 | |||||||||||
Aggregate carrying value of long-term debt, including capital leases | ' | |||||||||||||||||
As of December 31, 2013, aggregate principal maturities of long-term debt, including capital leases, for the next five years and thereafter are expected to be (in thousands): | ||||||||||||||||||
Year Ending December 31, | ||||||||||||||||||
2014 | $ | 70,132 | ||||||||||||||||
2015 | 1,252,591 | |||||||||||||||||
2016 | 912,402 | |||||||||||||||||
2017 | 787,297 | |||||||||||||||||
2018 | 3,643,836 | |||||||||||||||||
Thereafter | 7,769,480 | |||||||||||||||||
Total cash obligations | 14,435,738 | |||||||||||||||||
Unamortized discounts and premiums, net | 42,540 | |||||||||||||||||
Balance as of December 31, 2013 | $ | 14,478,278 | ||||||||||||||||
Other_NonCurrent_Liabilities_T
Other Non-Current Liabilities (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Other Liabilities, Noncurrent [Abstract] | ' | |||||||
Other non-current liabilities | ' | |||||||
Other non-current liabilities consists of the following as of December 31, (in thousands): | ||||||||
2013 | 2012 (1) | |||||||
Unearned revenue | $ | 278,295 | $ | 164,032 | ||||
Deferred rent liability | 273,318 | 254,494 | ||||||
Other miscellaneous liabilities | 271,145 | 225,575 | ||||||
Balance as of December 31, | $ | 822,758 | $ | 644,101 | ||||
-1 | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. |
Asset_Retirement_Obligations_T
Asset Retirement Obligations (Tables) | 12 Months Ended | |||||||
Dec. 31, 2013 | ||||||||
Asset Retirement Obligation [Abstract] | ' | |||||||
Carrying value of asset retirement obligations | ' | |||||||
The changes in the carrying value of the Company’s asset retirement obligations are as follows (in thousands): | ||||||||
2013 | 2012 (1) | |||||||
Beginning balance as of January 1, | $ | 435,624 | $ | 344,180 | ||||
Additions | 94,651 | 59,747 | ||||||
Accretion expense | 34,045 | 25,056 | ||||||
Revisions in estimates (2) | (36,492 | ) | 6,641 | |||||
Settlements | (959 | ) | — | |||||
Balance as of December 31, | $ | 526,869 | $ | 435,624 | ||||
-1 | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. | |||||||
-2 | For the year ended December 31, 2013, revisions in estimates include the impact of approximately $19.8 million of foreign currency translation. |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Tables) | 12 Months Ended | |||||||||
Dec. 31, 2013 | ||||||||||
Summary of Derivative Instruments [Abstract] | ' | |||||||||
Schedule of derivative financial instruments | ' | |||||||||
The notional value and fair value of the interest rate swap agreements are as follows (in thousands): | ||||||||||
31-Dec-13 | 31-Dec-12 | |||||||||
Local | USD | Local | USD | |||||||
South Africa (ZAR) | ||||||||||
Notional | 469,354 | 44,732 | 423,634 | 49,995 | ||||||
Fair Value | 939 | 90 | (20,441 | ) | (2,412 | ) | ||||
Colombia (COP) | ||||||||||
Notional | 101,250,000 | 52,547 | 101,250,000 | 57,261 | ||||||
Fair Value | (3,000,236 | ) | (1,557 | ) | (5,356,377 | ) | (3,029 | ) | ||
Costa Rica (USD) | ||||||||||
Notional | 42,000 | |||||||||
Fair Value | (628 | ) | ||||||||
Schedule of interest rate swap agreements' impact on other comprehensive income | ' | |||||||||
During the years ended December 31, 2013, 2012 and 2011, the interest rate swap agreements had the following impact on the Company’s consolidated financial statements (in thousands): | ||||||||||
Year Ended December 31, | Gain(Loss) Recognized in OCI - Effective Portion | Gain(Loss) | Location of Gain(Loss) Reclassified from Accumulated OCI into Income- Effective Portion | Gain(Loss) Recognized | Location of Gain(Loss) Recognized in Income - | |||||
Reclassified from | in Income - Ineffective Portion | Ineffective Portion | ||||||||
Accumulated OCI into | ||||||||||
Income - | ||||||||||
Effective Portion | ||||||||||
2013 | $1,481 | ($2,809) | Interest Expense | N/A | N/A | |||||
2012 | ($6,220) | ($1,340) | Interest Expense | N/A | N/A | |||||
2011 | ($228) | ($2,205) | Interest Expense | N/A | N/A |
Fair_Value_Measurements_Tables
Fair Value Measurements (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||
Fair Value Disclosures [Abstract] | ' | ||||||||||||||||
Schedule of fair value | ' | ||||||||||||||||
The fair value of the Company’s financial assets and liabilities that is required to be measured at fair value on a recurring basis is as follows (in thousands): | |||||||||||||||||
December 31, 2013 | |||||||||||||||||
Fair Value Measurements Using | Assets/Liabilities | ||||||||||||||||
Level 1 | Level 2 | Level 3 | at Fair Value | ||||||||||||||
Assets: | |||||||||||||||||
Short-term investments (1) | $ | 18,612 | $ | 18,612 | |||||||||||||
Interest rate swap agreements | $ | 90 | $ | 90 | |||||||||||||
Liabilities: | |||||||||||||||||
Acquisition-related contingent consideration | $ | 31,890 | $ | 31,890 | |||||||||||||
Interest rate swap agreements | $ | 2,185 | $ | 2,185 | |||||||||||||
31-Dec-12 | |||||||||||||||||
Fair Value Measurements Using | Assets/Liabilities | ||||||||||||||||
Level 1 | Level 2 | Level 3 | at Fair Value | ||||||||||||||
Assets: | |||||||||||||||||
Short-term investments (1) | $ | 6,018 | $ | 6,018 | |||||||||||||
Liabilities: | |||||||||||||||||
Acquisition-related contingent consideration | $ | 23,711 | $ | 23,711 | |||||||||||||
Interest rate swap agreements | $ | 5,442 | $ | 5,442 | |||||||||||||
(1) Consists of highly liquid investments with original maturities in excess of three months. | |||||||||||||||||
Schedule of contingent consideration changes | ' | ||||||||||||||||
During the years ended December 31, 2013 and 2012, the fair value of the contingent consideration changed as follows (in thousands): | |||||||||||||||||
2013 | 2012 | ||||||||||||||||
Balance as of January 1 | $ | 23,711 | $ | 25,617 | |||||||||||||
Additions (1) | 13,474 | 6,653 | |||||||||||||||
Payments | (8,789 | ) | (15,716 | ) | |||||||||||||
Change in fair value | 5,743 | 6,329 | |||||||||||||||
Foreign currency translation adjustment | (2,249 | ) | 828 | ||||||||||||||
Balance as of December 31 | $ | 31,890 | $ | 23,711 | |||||||||||||
(1) Approximately $9.3 million of the additions to contingent consideration liability relates to the MIPT acquisition. |
Accumulated_Other_Comprehensiv1
Accumulated Other Comprehensive Loss (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2013 | ||||||||||||||||
Equity [Abstract] | ' | |||||||||||||||
Schedule of accumulated other comprehensive income (loss) | ' | |||||||||||||||
The changes in Accumulated other comprehensive loss for the year ended December 31, 2013 are as follows (in thousands): | ||||||||||||||||
Unrealized Losses on Cash Flow Hedges (1) | Deferred Loss on the Settlement of the Treasury Rate Lock | Foreign | Total | |||||||||||||
Currency | ||||||||||||||||
Items | ||||||||||||||||
Balance as of January 1, 2013 | $ | (4,358 | ) | $ | (3,827 | ) | $ | (175,162 | ) | $ | (183,347 | ) | ||||
Other comprehensive income (loss) before reclassifications, net of tax | 867 | — | (131,160 | ) | (130,293 | ) | ||||||||||
Amounts reclassified from accumulated other comprehensive loss, net of tax | 1,622 | 798 | — | 2,420 | ||||||||||||
Net current-period other comprehensive income (loss) | 2,489 | 798 | (131,160 | ) | (127,873 | ) | ||||||||||
Balance as of December 31, 2013 | $ | (1,869 | ) | $ | (3,029 | ) | $ | (306,322 | ) | $ | (311,220 | ) | ||||
(1) Losses on cash flow hedges have been reclassified into interest expense in the accompanying consolidated statements of operations. The tax effect of approximately $0.2 million is included in income tax expense for the year ended December 31, 2013. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | |||||||||||
Income tax provision from continuing operations | ' | |||||||||||
The income tax provision from continuing operations is comprised of the following for the years ended December 31, (in thousands): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Current: | ||||||||||||
Federal | $ | (30,322 | ) | $ | (18,170 | ) | $ | (14,069 | ) | |||
State | (13,731 | ) | (6,321 | ) | (19,346 | ) | ||||||
Foreign | (44,973 | ) | (53,513 | ) | (34,813 | ) | ||||||
Deferred: | ||||||||||||
Federal | (16,318 | ) | (13,094 | ) | (81,685 | ) | ||||||
State | (5,139 | ) | (666 | ) | (12,001 | ) | ||||||
Foreign | 50,942 | (15,540 | ) | 36,834 | ||||||||
Income tax provision | $ | (59,541 | ) | $ | (107,304 | ) | $ | (125,080 | ) | |||
Components of income from continuing operations before income taxes and income on equity method investments | ' | |||||||||||
The domestic and foreign components of income from continuing operations before income taxes and income on equity method investments are as follows for the years ended December 31, (in thousands): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
United States | $ | 766,772 | $ | 787,960 | $ | 608,936 | ||||||
Foreign | (225,023 | ) | (86,666 | ) | (102,041 | ) | ||||||
Total | $ | 541,749 | $ | 701,294 | $ | 506,895 | ||||||
Reconciliation between the U.S. statutory rate and the effective rate from continuing operations | ' | |||||||||||
A reconciliation between the U.S. statutory rate and the effective rate from continuing operations is as follows for the years ended December 31: | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Statutory tax rate | 35 | % | 35 | % | 35 | % | ||||||
Tax adjustment related to REIT (1) | (35 | ) | (35 | ) | — | |||||||
State taxes, net of federal benefit | 3 | 1 | 6 | |||||||||
Foreign taxes | (5 | ) | 4 | 3 | ||||||||
Foreign withholding taxes | 6 | 4 | 2 | |||||||||
Deferred tax adjustment due to REIT conversion | — | — | (24 | ) | ||||||||
Domestic TRS restructuring | 4 | — | — | |||||||||
Change in valuation allowance | — | 8 | — | |||||||||
Other | 3 | (2 | ) | 3 | ||||||||
Effective tax rate | 11 | % | 15 | % | 25 | % | ||||||
(1) Includes 28% and 18% from dividend paid deductions in 2013 and 2012, respectively. | ||||||||||||
Components of the net deferred tax asset and related valuation allowance | ' | |||||||||||
The components of the net deferred tax asset and related valuation allowance are as follows as of December 31, (in thousands): | ||||||||||||
2013 | 2012 | |||||||||||
Current assets: | ||||||||||||
Allowances, accruals and other items not currently deductible | $ | 28,077 | $ | 31,561 | ||||||||
Current deferred liabilities | (4,547 | ) | (2,509 | ) | ||||||||
Subtotal | 23,530 | 29,052 | ||||||||||
Valuation allowance | (3,638 | ) | (3,298 | ) | ||||||||
Net current deferred tax assets | $ | 19,892 | $ | 25,754 | ||||||||
Non-current items: | ||||||||||||
Assets: | ||||||||||||
Net operating loss carryforwards | 197,335 | 127,914 | ||||||||||
Accrued asset retirement obligations | 85,627 | 70,797 | ||||||||||
Stock-based compensation | 4,331 | 25,258 | ||||||||||
Unearned revenue | 46,788 | 21,912 | ||||||||||
Unrealized loss on foreign currency | 68,951 | 33,010 | ||||||||||
Items not currently deductible and other | 23,877 | 22,914 | ||||||||||
Liabilities: | ||||||||||||
Depreciation and amortization | (114,005 | ) | (42,896 | ) | ||||||||
Deferred rent | (17,814 | ) | (18,640 | ) | ||||||||
Other | (4,931 | ) | (4,566 | ) | ||||||||
Subtotal | 290,159 | 235,703 | ||||||||||
Valuation allowance | (132,368 | ) | (92,260 | ) | ||||||||
Net non-current deferred tax assets | $ | 157,791 | $ | 143,443 | ||||||||
Net operating loss carryforwards expire | ' | |||||||||||
If not utilized, the Company’s net operating loss carryforwards expire as follows (in thousands): | ||||||||||||
Years ended December 31, | Federal | State | Foreign | |||||||||
2014 to 2018 | $ | — | $ | 109,577 | $ | 354 | ||||||
2019 to 2023 | — | 277,687 | 84,308 | |||||||||
2024 to 2028 | 786,863 | 586,500 | — | |||||||||
2029 to 2033 | 419,982 | 231,521 | — | |||||||||
Indefinite carryforward | — | — | 597,284 | |||||||||
Total | $ | 1,206,845 | $ | 1,205,285 | $ | 681,946 | ||||||
Change in unrecognized tax benefit | ' | |||||||||||
A reconciliation of the beginning and ending amount of unrecognized tax benefits are as follows for the years ended December 31, (in thousands): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Balance at January 1 | $ | 34,337 | $ | 38,886 | $ | 79,012 | ||||||
Additions based on tax positions related to the current year | 1,427 | 1,037 | 1,801 | |||||||||
Additions for tax positions of prior years | — | — | 16,520 | |||||||||
Reductions for tax positions of prior years | (320 | ) | (221 | ) | (54,430 | ) | ||||||
Foreign currency | (1,681 | ) | (439 | ) | (3,550 | ) | ||||||
Reduction as a result of the lapse of statute of limitations and effective settlements | (1,218 | ) | (4,926 | ) | (467 | ) | ||||||
Balance at December 31 | $ | 32,545 | $ | 34,337 | $ | 38,886 | ||||||
StockBased_Compensation_Tables
Stock-Based Compensation (Tables) | 12 Months Ended | |||||||||||||
Dec. 31, 2013 | ||||||||||||||
Share-based Compensation, Allocation and Classification in Financial Statements [Abstract] | ' | |||||||||||||
Assumptions used to determine the grant date fair value for options granted | ' | |||||||||||||
Key assumptions used to apply this pricing model are as follows: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Range of risk-free interest rate | 0.75% - 1.42% | 0.62% - 1.03% | 0.90% – 2.24% | |||||||||||
Weighted average risk-free interest rate | 0.91% | 0.92% | 1.97% | |||||||||||
Expected life of option grants | 4.41 years | 4.40 years | 4.50 years | |||||||||||
Range of expected volatility of underlying stock price | 24.43% - 36.09% | 36.53% - 37.86% | 36.89% – 38.13% | |||||||||||
Weighted average expected volatility of underlying stock price | 33.37% | 37.84% | 36.98% | |||||||||||
Expected annual dividend yield | 1.50% | 1.50% | 0.03% | |||||||||||
Summary of the company's option activity | ' | |||||||||||||
The following table summarizes the Company’s option activity for the periods presented: | ||||||||||||||
Options | Weighted | Weighted | Aggregate | |||||||||||
Average | Average | Intrinsic Value | ||||||||||||
Exercise Price | Contractual | (in millions) | ||||||||||||
Term (Years) | ||||||||||||||
Outstanding as of January 1, 2013 | 5,829,945 | $ | 44.09 | |||||||||||
Granted | 1,449,261 | 76.89 | ||||||||||||
Exercised | (1,081,437 | ) | 37.52 | |||||||||||
Forfeited | (91,298 | ) | 59.27 | |||||||||||
Expired | (300 | ) | 9.94 | |||||||||||
Outstanding as of December 31, 2013 | 6,106,171 | $ | 52.81 | 6.52 | $ | 164.9 | ||||||||
Exercisable as of December 31, 2013 | 3,196,741 | $ | 40.54 | 4.81 | $ | 125.6 | ||||||||
Vested or expected to vest as of December 31, 2013 | 6,104,707 | $ | 52.81 | 6.52 | $ | 164.9 | ||||||||
Schedule of options outstanding | ' | |||||||||||||
The following table sets forth information regarding options outstanding at December 31, 2013: | ||||||||||||||
Options Outstanding | Options Exercisable | |||||||||||||
Outstanding | Range of Exercise | Weighted | Weighted Average | Options | Weighted | |||||||||
Number of | Price Per Share | Average Exercise | Remaining Life | Exercisable | Average Exercise | |||||||||
Options | Price Per Share | (Years) | Price Per Share | |||||||||||
808,812 | $10.68 - $35.72 | $27.94 | 3.97 | 808,812 | $27.94 | |||||||||
1,913,223 | 37.52 - 47.25 | 40.64 | 4.33 | 1,729,532 | 40.38 | |||||||||
854,664 | 50.78 - 58.60 | 51.23 | 7.2 | 376,970 | 51.14 | |||||||||
1,131,753 | 62.00 - 74.06 | 62.54 | 8.2 | 255,515 | 62.23 | |||||||||
1,397,719 | 76.90 - 79.05 | 76.95 | 9.2 | 25,912 | 76.9 | |||||||||
6,106,171 | $10.68 - $79.05 | $52.81 | 6.52 | 3,196,741 | $40.54 | |||||||||
Summary of the company's restricted stock unit activity | ' | |||||||||||||
The following table summarizes the Company’s restricted stock unit activity during the year ended December 31, 2013: | ||||||||||||||
Number of | Weighted Average Grant | |||||||||||||
Units | Date Fair Value | |||||||||||||
Outstanding as of January 1, 2013 | 1,968,553 | $ | 51.56 | |||||||||||
Granted | 828,218 | 76.88 | ||||||||||||
Vested | (817,966 | ) | 45.92 | |||||||||||
Forfeited | (138,668 | ) | 61 | |||||||||||
Outstanding as of December 31, 2013 | 1,840,137 | $ | 64.75 | |||||||||||
Expected to vest, net of estimated forfeitures, as of December 31, 2013 | 1,769,009 | $ | 64.54 | |||||||||||
Schedule of employee stock purchase plan valuation assumptions | ' | |||||||||||||
Key assumptions used to apply the Black-Scholes pricing model for shares purchased through the ESPP for the years ended December 31, are as follows: | ||||||||||||||
2013 | 2012 | 2011 | ||||||||||||
Range of risk-free interest rate | 0.07% – 0.13% | 0.05% – 0.12% | 0.11% – 0.20% | |||||||||||
Weighted average risk-free interest rate | 0.10% | 0.08% | 0.16% | |||||||||||
Expected life of shares | 6 months | 6 months | 6 months | |||||||||||
Range of expected volatility of underlying stock price over the option period | 12.21% – 13.57% | 33.16% – 33.86% | 33.96% – 34.55% | |||||||||||
Weighted average expected volatility of underlying stock price | 12.88% | 33.54% | 34.28% | |||||||||||
Expected annual dividend yield | 1.50% | 1.50% | N/A |
Equity_Tables
Equity (Tables) | 12 Months Ended | ||||||||||||
Dec. 31, 2013 | |||||||||||||
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ' | ||||||||||||
Schedule of dividends payable | ' | ||||||||||||
During the year ended December 31, 2013, the Company declared and paid the following regular cash distributions to the stockholders: | |||||||||||||
Declaration Date | Payment Date | Record Date | Distribution | Aggregate | |||||||||
per share | Payment Amount | ||||||||||||
(in millions) | |||||||||||||
March 12, 2013 | April 25, 2013 | April 10, 2013 | $ | 0.26 | $ | 102.8 | |||||||
May 22, 2013 | July 16, 2013 | June 17, 2013 | $ | 0.27 | $ | 106.7 | |||||||
September 12, 2013 | October 7, 2013 | September 23, 2013 | $ | 0.28 | $ | 110.5 | |||||||
December 4, 2013 | December 31, 2013 | December 16, 2013 | $ | 0.29 | $ | 114.5 | |||||||
Earnings_Per_Common_Share_Tabl
Earnings Per Common Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Earnings Per Share [Abstract] | ' | |||||||||||
Schedule of earnings per basic and diluted by common class | ' | |||||||||||
The following table sets forth basic and diluted income from continuing operations per common share computational data for the years ended December 31, 2013, 2012 and 2011 (in thousands, except per share data): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Income from continuing operations attributable to American Tower Corporation | $ | 551,333 | $ | 637,283 | $ | 396,462 | ||||||
Basic weighted average common shares outstanding | 395,040 | 394,772 | 395,711 | |||||||||
Dilutive securities | 4,106 | 4,515 | 4,484 | |||||||||
Diluted weighted average common shares outstanding | 399,146 | 399,287 | 400,195 | |||||||||
Basic income from continuing operations attributable to | ||||||||||||
American Tower Corporation per common share | $ | 1.4 | $ | 1.61 | $ | 1 | ||||||
Diluted income from continuing operations attributable to | ||||||||||||
American Tower Corporation per common share | $ | 1.38 | $ | 1.6 | $ | 0.99 | ||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||
Dec. 31, 2013 | ||||
Commitments and Contingencies Disclosure [Abstract] | ' | |||
Future minimum rental payments under non-cancelable operating leases | ' | |||
Future minimum rental payments under non-cancellable operating leases include payments for certain renewal periods at the Company’s option because failure to renew could result in a loss of the applicable tower sites and related revenues from tenant leases, thereby making it reasonably assured that the Company will renew the leases. Such payments at December 31, 2013 are as follows (in thousands): | ||||
Year Ending December 31, | ||||
2014 | $ | 512,429 | ||
2015 | 504,485 | |||
2016 | 492,058 | |||
2017 | 478,383 | |||
2018 | 466,138 | |||
Thereafter | 4,433,263 | |||
Total | $ | 6,886,756 | ||
Future minimum payments under capital leases | ' | |||
Future minimum payments under capital leases in effect at December 31, 2013 are as follows (in thousands): | ||||
Year Ending December 31, | ||||
2014 | $ | 11,114 | ||
2015 | 9,063 | |||
2016 | 8,601 | |||
2017 | 8,390 | |||
2018 | 7,371 | |||
Thereafter | 168,695 | |||
Total minimum lease payments | 213,234 | |||
Less amounts representing interest | (139,856 | ) | ||
Present value of capital lease obligations | $ | 73,378 | ||
Future minimum rental receipts under operating lease agreements | ' | |||
Future minimum rental receipts expected from tenants under non-cancellable operating lease agreements in effect at December 31, 2013 are as follows (in thousands): | ||||
Year Ending December 31, | ||||
2014 | $ | 3,109,078 | ||
2015 | 3,043,013 | |||
2016 | 2,966,499 | |||
2017 | 2,887,319 | |||
2018 | 2,735,520 | |||
Thereafter | 7,901,662 | |||
Total | $ | 22,643,091 | ||
Supplemental_Cash_Flow_Informa1
Supplemental Cash Flow Information (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2013 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ' | |||||||||||
Supplemental cash flow information and non-cash investing and financing activities | ' | |||||||||||
Supplemental cash flow information and non-cash investing and financing activities for the years ended December 31, 2013, 2012 and 2011 are as follows (in thousands): | ||||||||||||
2013 | 2012 | 2011 | ||||||||||
Supplemental cash flow information: | ||||||||||||
Cash paid for interest | $ | 397,366 | $ | 366,458 | $ | 274,234 | ||||||
Cash paid for income taxes (net of refunds of $19,701, $20,847 and $9,277, respectively) | 51,676 | 69,277 | 53,909 | |||||||||
Non-cash investing and financing activities: | ||||||||||||
Increase (decrease) in accounts payable and accrued expenses for purchases of property and equipment and construction activities | 9,147 | (10,244 | ) | 8,507 | ||||||||
Purchases of property and equipment under capital leases | 27,416 | 19,219 | 6,800 | |||||||||
Fair value of debt assumed through acquisitions | 1,576,186 | — | 209,321 | |||||||||
Business_Segments_Tables
Business Segments (Tables) | 12 Months Ended | ||||||||||||||||||||||||
Dec. 31, 2013 | |||||||||||||||||||||||||
Segment Reporting, Measurement Disclosures [Abstract] | ' | ||||||||||||||||||||||||
Summarized financial information concerning the company's reportable segments | ' | ||||||||||||||||||||||||
Rental and Management | Total Rental and | Network | Other | Total | |||||||||||||||||||||
Management | Development | ||||||||||||||||||||||||
Year Ended December 31, 2012 | Domestic | International | Services | ||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Segment revenues | $ | 1,940,689 | $ | 862,801 | $ | 2,803,490 | $ | 72,470 | $ | 2,875,960 | |||||||||||||||
Segment operating expenses (1) | 357,555 | 328,333 | 685,888 | 34,830 | 720,718 | ||||||||||||||||||||
Interest income, TV Azteca, net | — | 14,258 | 14,258 | — | 14,258 | ||||||||||||||||||||
Segment gross margin | 1,583,134 | 548,726 | 2,131,860 | 37,640 | 2,169,500 | ||||||||||||||||||||
Segment selling, general, administrative and development expense (1) | 85,663 | 95,579 | 181,242 | 6,744 | 187,986 | ||||||||||||||||||||
Segment operating profit | $ | 1,497,471 | $ | 453,147 | $ | 1,950,618 | $ | 30,896 | $ | 1,981,514 | |||||||||||||||
Stock-based compensation expense | $ | 51,983 | 51,983 | ||||||||||||||||||||||
Other selling, general, administrative and development expense | 89,093 | 89,093 | |||||||||||||||||||||||
Depreciation, amortization and accretion | 644,276 | 644,276 | |||||||||||||||||||||||
Other expense (principally interest expense and other expense) | 494,868 | 494,868 | |||||||||||||||||||||||
Income from continuing operations before income taxes and income on equity method investments | $ | 701,294 | |||||||||||||||||||||||
Capital expenditures | $ | 268,997 | $ | 279,004 | $ | 548,001 | $ | — | $ | 20,047 | $ | 568,048 | |||||||||||||
(1) Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of | |||||||||||||||||||||||||
$1.8 million and $50.2 million, respectively. | |||||||||||||||||||||||||
Rental and Management | Total Rental and | Network | Other | Total | |||||||||||||||||||||
Management | Development | ||||||||||||||||||||||||
Year Ended December 31, 2011 | Domestic | International | Services | ||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Segment revenues | $ | 1,744,260 | $ | 641,925 | $ | 2,386,185 | $ | 57,347 | $ | 2,443,532 | |||||||||||||||
Segment operating expenses (1) | 353,458 | 235,709 | 589,167 | 29,460 | 618,627 | ||||||||||||||||||||
Interest income, TV Azteca, net | — | 14,214 | 14,214 | — | 14,214 | ||||||||||||||||||||
Segment gross margin | 1,390,802 | 420,430 | 1,811,232 | 27,887 | 1,839,119 | ||||||||||||||||||||
Segment selling, general, administrative and development expense (1) | 77,041 | 82,106 | 159,147 | 7,864 | 167,011 | ||||||||||||||||||||
Segment operating profit | $ | 1,313,761 | $ | 338,324 | $ | 1,652,085 | $ | 20,023 | $ | 1,672,108 | |||||||||||||||
Stock-based compensation expense | $ | 47,437 | 47,437 | ||||||||||||||||||||||
Other selling, general, administrative and development expense | 76,705 | 76,705 | |||||||||||||||||||||||
Depreciation, amortization and accretion | 555,517 | 555,517 | |||||||||||||||||||||||
Other expense (principally interest expense and other expense) | 485,554 | 485,554 | |||||||||||||||||||||||
Income from continuing operations before income taxes and income on equity method investments | $ | 506,895 | |||||||||||||||||||||||
Capital expenditures | $ | 325,264 | $ | 178,826 | $ | 504,090 | $ | — | $ | 18,925 | $ | 523,015 | |||||||||||||
(1) Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of | |||||||||||||||||||||||||
$2.3 million and $45.1 million, respectively. | |||||||||||||||||||||||||
Rental and Management | Total Rental and | Network | Other | Total | |||||||||||||||||||||
Management | Development | ||||||||||||||||||||||||
Year Ended December 31, 2013 | Domestic | International | Services | ||||||||||||||||||||||
(in thousands) | |||||||||||||||||||||||||
Segment revenues | $ | 2,189,365 | $ | 1,097,725 | $ | 3,287,090 | $ | 74,317 | $ | 3,361,407 | |||||||||||||||
Segment operating expenses (1) | 405,419 | 422,346 | 827,765 | 30,564 | 858,329 | ||||||||||||||||||||
Interest income, TV Azteca, net | — | 22,235 | 22,235 | — | 22,235 | ||||||||||||||||||||
Segment gross margin | 1,783,946 | 697,614 | 2,481,560 | 43,753 | 2,525,313 | ||||||||||||||||||||
Segment selling, general, administrative and development expense (1) | 103,989 | 123,338 | 227,327 | 9,257 | 236,584 | ||||||||||||||||||||
Segment operating profit | $ | 1,679,957 | $ | 574,276 | $ | 2,254,233 | $ | 34,496 | $ | 2,288,729 | |||||||||||||||
Stock-based compensation expense | $ | 68,138 | 68,138 | ||||||||||||||||||||||
Other selling, general, administrative and development expense | 112,367 | 112,367 | |||||||||||||||||||||||
Depreciation, amortization and accretion | 800,145 | 800,145 | |||||||||||||||||||||||
Other expense (principally interest expense and other expense) | 766,330 | 766,330 | |||||||||||||||||||||||
Income from continuing operations before income taxes and income on equity method investments | $ | 541,749 | |||||||||||||||||||||||
Capital expenditures | $ | 416,239 | $ | 277,910 | $ | 694,149 | $ | — | $ | 30,383 | $ | 724,532 | |||||||||||||
(1) Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of | |||||||||||||||||||||||||
$1.5 million and $66.6 million, respectively. | |||||||||||||||||||||||||
Reconciliation of assets from segments to consolidated | ' | ||||||||||||||||||||||||
Additional information relating to the total assets of the Company’s operating segments for the years ended December 31, is as follows (in thousands): | |||||||||||||||||||||||||
2013 | 2012 (1) | 2011 | |||||||||||||||||||||||
Domestic rental and management | $ | 13,480,641 | $ | 8,471,169 | $ | 7,789,578 | |||||||||||||||||||
International rental and management (2) | 6,564,840 | 5,190,987 | 3,942,258 | ||||||||||||||||||||||
Network development services | 47,607 | 63,956 | 33,941 | ||||||||||||||||||||||
Other (3) | 179,483 | 363,317 | 476,618 | ||||||||||||||||||||||
Total assets | $ | 20,272,571 | $ | 14,089,429 | $ | 12,242,395 | |||||||||||||||||||
(1) Balances have been revised to reflect purchase accounting measurement period adjustments. | |||||||||||||||||||||||||
(2) Balances are translated at the applicable period end exchange rate and therefore may impact comparability between periods. | |||||||||||||||||||||||||
(3) Balances include corporate assets such as cash and cash equivalents, certain tangible and intangible assets and income tax accounts which have not been | |||||||||||||||||||||||||
allocated to specific segments. | |||||||||||||||||||||||||
Schedule of revenue from external customers attributed to foreign countries by geographic area | ' | ||||||||||||||||||||||||
Summarized geographic information related to the Company’s operating revenues for the years ended December 31, 2013, 2012 and 2011 and and long-lived assets as of December 31, 2013 and 2012, is as follows (in thousands): | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
Operating Revenues: | |||||||||||||||||||||||||
United States | $ | 2,263,682 | $ | 2,013,159 | $ | 1,801,607 | |||||||||||||||||||
International (1): | |||||||||||||||||||||||||
Brazil | 212,201 | 198,068 | 177,526 | ||||||||||||||||||||||
Chile | 28,978 | 22,114 | 7,380 | ||||||||||||||||||||||
Colombia | 70,901 | 48,424 | 13,690 | ||||||||||||||||||||||
Costa Rica | 4,055 | — | — | ||||||||||||||||||||||
Germany | 62,756 | 4,030 | — | ||||||||||||||||||||||
Ghana | 92,114 | 81,818 | 41,464 | ||||||||||||||||||||||
India | 191,355 | 181,863 | 170,680 | ||||||||||||||||||||||
Mexico | 288,306 | 217,473 | 183,175 | ||||||||||||||||||||||
Panama | 424 | — | — | ||||||||||||||||||||||
Peru | 5,824 | 5,310 | 4,546 | ||||||||||||||||||||||
South Africa | 91,906 | 80,202 | 43,464 | ||||||||||||||||||||||
Uganda | 48,905 | 23,499 | — | ||||||||||||||||||||||
Total international | 1,097,725 | 862,801 | 641,925 | ||||||||||||||||||||||
Total operating revenues | $ | 3,361,407 | $ | 2,875,960 | $ | 2,443,532 | |||||||||||||||||||
(1) Balances are translated at the applicable exchange rate and therefore may impact comparability between periods. | |||||||||||||||||||||||||
Schedule of disclosure on geographic areas, long-lived assets | ' | ||||||||||||||||||||||||
2013 | 2012 (1) | ||||||||||||||||||||||||
Long-Lived Assets (2): | |||||||||||||||||||||||||
United States | $ | 12,278,780 | $ | 7,554,720 | |||||||||||||||||||||
International (3): | |||||||||||||||||||||||||
Brazil | 1,290,767 | 911,371 | |||||||||||||||||||||||
Chile | 167,318 | 196,387 | |||||||||||||||||||||||
Colombia | 390,197 | 380,326 | |||||||||||||||||||||||
Costa Rica | 271,988 | — | |||||||||||||||||||||||
Germany | 535,883 | 540,108 | |||||||||||||||||||||||
Ghana | 304,603 | 377,553 | |||||||||||||||||||||||
India | 610,744 | 676,049 | |||||||||||||||||||||||
Mexico | 1,355,542 | 710,888 | |||||||||||||||||||||||
Panama | 21,049 | — | |||||||||||||||||||||||
Peru | 58,220 | 65,756 | |||||||||||||||||||||||
South Africa | 213,316 | 231,573 | |||||||||||||||||||||||
Uganda | 195,128 | 169,853 | |||||||||||||||||||||||
Total international | 5,414,755 | 4,259,864 | |||||||||||||||||||||||
Total long-lived assets | $ | 17,693,535 | $ | 11,814,584 | |||||||||||||||||||||
(1) Balances have been revised to reflect purchase accounting measurement period adjustments. | |||||||||||||||||||||||||
(2) Includes Property and equipment, net, Goodwill and Other intangible assets, net. | |||||||||||||||||||||||||
(3) Balances are translated at the applicable period end exchange rate and therefore may impact comparability between periods. | |||||||||||||||||||||||||
Schedule of revenue by major customers | ' | ||||||||||||||||||||||||
The following tenants within the domestic and international rental and management segments and network development services segment individually accounted for 10% or more of the Company’s consolidated operating revenues for the years ended December 31, 2013, 2012 and 2011 is as follows: | |||||||||||||||||||||||||
2013 | 2012 | 2011 | |||||||||||||||||||||||
AT&T Mobility | 18 | % | 18 | % | 20 | % | |||||||||||||||||||
Sprint Nextel | 16 | % | 14 | % | 14 | % | |||||||||||||||||||
Verizon Wireless | 11 | % | 11 | % | 12 | % | |||||||||||||||||||
T-Mobile | 11 | % | 8 | % | 7 | % |
Selected_Quarterly_Financial_D1
Selected Quarterly Financial Data (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2013 | ||||||||||||||||||||
Selected Quarterly Financial Information [Abstract] | ' | |||||||||||||||||||
Schedule of quarterly financial information | ' | |||||||||||||||||||
Selected quarterly financial data for the years ended December 31, 2013 and 2012 is as follows (in thousands, except per share data): | ||||||||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | December 31, | ||||||||||||||||
2013:00:00 | ||||||||||||||||||||
Operating revenues | $ | 802,728 | $ | 808,830 | $ | 807,880 | $ | 941,969 | $ | 3,361,407 | ||||||||||
Cost of operations (1) | 201,766 | 205,709 | 200,829 | 251,569 | 859,873 | |||||||||||||||
Operating income | 299,686 | 312,812 | 308,879 | 292,928 | 1,214,305 | |||||||||||||||
Net income | 160,948 | 84,113 | 163,222 | 73,925 | 482,208 | |||||||||||||||
Net income attributable to American Tower Corporation | 171,407 | 99,821 | 180,123 | 99,982 | 551,333 | |||||||||||||||
Basic net income per common share | 0.43 | 0.25 | 0.46 | 0.25 | 1.4 | |||||||||||||||
Diluted net income per common share | 0.43 | 0.25 | 0.45 | 0.25 | 1.38 | |||||||||||||||
Three Months Ended | Year Ended | |||||||||||||||||||
March 31, | June 30, | September 30, | December 31, | December 31, | ||||||||||||||||
2012:00:00 | ||||||||||||||||||||
Operating revenues | $ | 696,517 | $ | 697,734 | $ | 713,335 | $ | 768,374 | $ | 2,875,960 | ||||||||||
Cost of operations (1) | 170,985 | 172,384 | 184,904 | 194,206 | 722,479 | |||||||||||||||
Operating income | 274,446 | 270,486 | 295,552 | 279,235 | 1,119,719 | |||||||||||||||
Net income | 210,358 | 33,689 | 231,825 | 118,153 | 594,025 | |||||||||||||||
Net income attributable to American Tower Corporation | 221,306 | 48,209 | 232,089 | 135,679 | 637,283 | |||||||||||||||
Basic net income per common share | 0.56 | 0.12 | 0.59 | 0.34 | 1.61 | |||||||||||||||
Diluted net income per common share | 0.56 | 0.12 | 0.58 | 0.34 | 1.6 | |||||||||||||||
(1) Represents Operating expenses, exclusive of Depreciation, amortization and accretion, Selling, general, administrative and development expense, and Other operating expense. |
Business_and_Summary_of_Signif3
Business and Summary of Significant Accounting Policies (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
customers | |||
Dividends Paid [Line Items] | ' | ' | ' |
Concentration of credit risk, revenues from four customers | 55.00% | ' | ' |
Number of customers, concentration of credit risk | 4 | ' | ' |
Labor costs capitalized | $44,100,000 | $41,600,000 | $35,600,000 |
Interest costs capitalized | 1,800,000 | 1,900,000 | 2,100,000 |
Estimated useful life of respective assets | '20 years | ' | ' |
Distributions | -434,687,000 | -355,574,000 | -137,765,000 |
Cash distribution per share | $1.10 | $0.90 | $0.35 |
Straight line revenue | 147,700,000 | 165,800,000 | 144,000,000 |
Straight-line ground rent expense | 29,700,000 | 33,700,000 | 31,000,000 |
Employers percentage of employees first 6 percent | 75.00% | 50.00% | ' |
Company's contribution | 6,000,000 | 4,400,000 | 2,900,000 |
Employee maximum annual contribution eligible for match | 6.00% | 6.00% | ' |
Dividends Declared and Paid [Member] | ' | ' | ' |
Dividends Paid [Line Items] | ' | ' | ' |
Distributions | ($434,500,000) | ($355,600,000) | ' |
Business_and_Summary_of_Signif4
Business and Summary of Significant Accounting Policies (Changes in Allowances) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Allowance for Doubtful Accounts Receivable [Roll Forward] | ' | ' | ' |
Balance as of January 1 | $20,406 | $24,412 | $22,505 |
Current year increases | 7,025 | 8,028 | 17,008 |
Write-offs, net of recoveries and other | -7,536 | -12,034 | -15,101 |
Balance as of December 31 | $19,895 | $20,406 | $24,412 |
Prepaid_and_Other_Current_Asse1
Prepaid and Other Current Assets (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Prepaid Expense and Other Assets, Current [Abstract] | ' | ' | |
Prepaid operating ground leases | $82,950 | $56,916 | [1] |
Value added tax and other consumption tax receivables | 78,262 | 22,443 | [1] |
Prepaid income tax | 52,612 | 57,665 | [1] |
Prepaid assets | 34,243 | 19,037 | [1] |
Unbilled receivables | 25,412 | 32,588 | [1] |
Other miscellaneous current assets | 40,588 | 34,350 | [1] |
Balance as of December 31, | $314,067 | $222,999 | [1] |
[1] | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. |
Property_and_Equipment_Narrati
Property and Equipment (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment [Abstract] | ' | ' | ' |
Depreciation expense | $483.60 | $411.90 | $353.40 |
Capital leases, which are primarily classified as towers or land and improvements | $839 | $868.30 | ' |
Property_and_Equipment_Propert
Property and Equipment (Property and Equipment) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Towers | $7,936,622 | $6,886,611 | [1] | |
Equipment | 767,738 | 562,403 | [1] | |
Buildings and improvements | 660,885 | 423,639 | [1] | |
Land and improvements | 1,392,414 | [2] | 1,023,175 | [1],[2] |
Construction-in-progress | 171,244 | 151,289 | [1] | |
Total | 10,928,903 | 9,047,117 | [1] | |
Less accumulated depreciation and amortization | -3,666,728 | -3,281,261 | [1] | |
Property and equipment, net | $7,262,175 | $5,765,856 | [1] | |
Estimated useful lives | '20 years | ' | ||
Tower [Member] | Maximum | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Estimated useful lives | '20 years | [3] | ' | |
Tower [Member] | Minimum | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Estimated useful lives | '0 years | [3] | ' | |
Equipment [Member] | Maximum | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Estimated useful lives | '15 years | [3] | ' | |
Equipment [Member] | Minimum | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Estimated useful lives | '3 years | [3] | ' | |
Buildings and Improvements [Member] | Maximum | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Estimated useful lives | '32 years | [3] | ' | |
Buildings and Improvements [Member] | Minimum | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Estimated useful lives | '3 years | [3] | ' | |
Land and Improvements [Member] | Maximum | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Estimated useful lives | '20 years | [3] | ' | |
Land and Improvements [Member] | Minimum | ' | ' | ||
Property, Plant and Equipment [Line Items] | ' | ' | ||
Estimated useful lives | '0 years | [3] | ' | |
[1] | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. | |||
[2] | Estimated useful lives apply to land improvements only. | |||
[3] | 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 taking into consideration lease renewal options and residual value. |
Goodwill_and_Other_Intangible_2
Goodwill and Other Intangible Assets (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Amortization of intangible assets | $282.50 | $207.30 | $176.40 |
Weighted average amortization period of intangible assets, years | '16 years | ' | ' |
Noncompete Agreements [Member] | ' | ' | ' |
Acquired Finite-Lived Intangible Assets [Line Items] | ' | ' | ' |
Intangible assets fully amortized, retired | $19.60 | ' | ' |
Goodwill_and_Other_Intangible_3
Goodwill and Other Intangible Assets (Rollforward) (Details) (USD $) | 12 Months Ended | |
In Thousands, unless otherwise specified | Dec. 31, 2013 | |
Goodwill [Roll Forward] | ' | |
Goodwill, beginning balance | $2,842,643 | [1] |
Additions | 939,676 | [2] |
Effect of foreign currency translation | -52,418 | |
Goodwill, ending balance | 3,729,901 | |
Network Development Services [Member] | ' | |
Goodwill [Roll Forward] | ' | |
Goodwill, beginning balance | 2,000 | [1] |
Additions | 0 | [2] |
Effect of foreign currency translation | 0 | |
Goodwill, ending balance | 2,000 | |
Domestic [Member] | Rental And Management [Member] | ' | |
Goodwill [Roll Forward] | ' | |
Goodwill, beginning balance | 2,320,571 | [1] |
Additions | 812,091 | [2] |
Effect of foreign currency translation | 0 | |
Goodwill, ending balance | 3,132,662 | |
Total international | Rental And Management [Member] | ' | |
Goodwill [Roll Forward] | ' | |
Goodwill, beginning balance | 520,072 | [1] |
Additions | 127,585 | [2] |
Effect of foreign currency translation | -52,418 | |
Goodwill, ending balance | 595,239 | |
MIPT Acquisition [Member] | Domestic [Member] | Rental And Management [Member] | ' | |
Goodwill [Roll Forward] | ' | |
Additions | 807,700 | |
MIPT Acquisition [Member] | Total international | Rental And Management [Member] | ' | |
Goodwill [Roll Forward] | ' | |
Additions | $67,300 | |
[1] | Balances have been revised to reflect purchase accounting measurement period adjustments. | |
[2] | Domestic and international rental and management segments include approximately $807.7 million and $67.3 million, respectively, of goodwill related to the Company’s acquisition of MIP Tower Holdings LLC (see note 6). |
Goodwill_and_Other_Intangible_4
Goodwill and Other Intangible Assets (Changes in the Carrying Value of Goodwill) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ||
Gross Carrying Value | $8,602,708 | $4,891,683 | [1] | |
Accumulated Amortization | -1,978,124 | -1,735,136 | [1] | |
Net Book Value | 6,624,584 | 3,156,547 | [1] | |
Deferred financing costs, net | 76,875 | [2] | 49,538 | [1],[2] |
Other intangible assets, net | 6,701,459 | 3,206,085 | [1] | |
Acquired Network Location [Member] | ' | ' | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ||
Gross Carrying Value | 2,365,474 | [3] | 1,703,047 | [1],[3] |
Accumulated Amortization | -791,359 | [3] | -721,135 | [1],[3] |
Net Book Value | 1,574,115 | [3] | 981,912 | [1],[3] |
Acquired Network Location [Member] | Maximum | ' | ' | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ||
Economic rights agreement useful life, years | '20 years | [3] | ' | |
Acquired Network Location [Member] | Minimum | ' | ' | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ||
Economic rights agreement useful life, years | '0 years | [3] | ' | |
Acquired Customer Relationships [Member] | ' | ' | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ||
Gross Carrying Value | 6,201,868 | 3,133,603 | [1] | |
Accumulated Amortization | -1,170,239 | -979,264 | [1] | |
Net Book Value | 5,031,629 | 2,154,339 | [1] | |
Acquired Customer Relationships [Member] | Maximum | ' | ' | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ||
Economic rights agreement useful life, years | '20 years | ' | ||
Acquired Customer Relationships [Member] | Minimum | ' | ' | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ||
Economic rights agreement useful life, years | '15 years | ' | ||
Acquired Licenses And Other Intangibles [Member] | ' | ' | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ||
Gross Carrying Value | 6,583 | 26,079 | [1] | |
Accumulated Amortization | -2,297 | -20,835 | [1] | |
Net Book Value | 4,286 | 5,244 | [1] | |
Acquired Licenses And Other Intangibles [Member] | Maximum | ' | ' | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ||
Economic rights agreement useful life, years | '20 years | ' | ||
Acquired Licenses And Other Intangibles [Member] | Minimum | ' | ' | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ||
Economic rights agreement useful life, years | '3 years | ' | ||
Economic Rights, TV Azteca [Member] | ' | ' | ||
Finite-Lived Intangible Assets [Line Items] | ' | ' | ||
Gross Carrying Value | 28,783 | 28,954 | [1] | |
Accumulated Amortization | -14,229 | -13,902 | [1] | |
Net Book Value | $14,554 | $15,052 | [1] | |
Economic rights agreement useful life, years | '70 years | ' | ||
[1] | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. | |||
[2] | Deferred financing costs are amortized over the term of the respective debt instruments to which they relate using the effective interest method. This amortization is included in interest expense, rather than in amortization expense. | |||
[3] | Acquired network location intangibles are amortized over the shorter of the term of the corresponding ground lease taking into consideration lease renewal options and residual value or up to 20 years, as the Company considers these intangibles to be directly related to the tower assets. |
Goodwill_and_Other_Intangible_5
Goodwill and Other Intangible Assets (Expected Future Amortization Expenses) (Details) (USD $) | Dec. 31, 2013 |
In Millions, unless otherwise specified | |
Goodwill and Intangible Assets Disclosure [Abstract] | ' |
2014 | $426.10 |
2015 | 423.3 |
2016 | 420.5 |
2017 | 418 |
2018 | $415.80 |
Notes_Receivable_and_Other_Non2
Notes Receivable and Other Non-Current Assets (Narrative) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2000 | Dec. 31, 2013 | Dec. 31, 2000 | Dec. 31, 2013 | Dec. 31, 2013 |
In Millions, unless otherwise specified | TV Azteca [Member] | TV Azteca [Member] | Economic Rights, TV Azteca [Member] | Economic Rights, TV Azteca [Member] | Repayment of Principal [Member] | Prepayment Penalty [Member] | ||
sites | TV Azteca [Member] | TV Azteca [Member] | ||||||
Notes Receivable And Other NonCurrent Assets [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' |
Loans receivable | ' | ' | $91.80 | $119.80 | ' | ' | ' | ' |
Loan interest rate | ' | ' | ' | 13.11% | ' | ' | ' | ' |
Term of the loan, years | ' | ' | '70 years | ' | '70 years | ' | ' | ' |
Loan prepayment without penalty, period, years | ' | ' | '50 years | ' | '50 years | ' | ' | ' |
Proceeds from collection of notes receivable | ' | ' | 34.4 | ' | ' | ' | 28 | 4.9 |
Interest income | ' | ' | 2.7 | ' | ' | ' | ' | ' |
Loans receivable, net of discount | ' | ' | 82.9 | ' | ' | ' | ' | ' |
Number of broadcast towers | ' | ' | ' | ' | ' | 190 | ' | ' |
Commercial rights, annual payment | ' | ' | ' | ' | ' | 1.5 | ' | ' |
Percentage of the revenues from leasing of towers | ' | ' | ' | ' | ' | 100.00% | ' | ' |
Capital lease, liability | ' | ' | ' | ' | ' | 18.6 | ' | ' |
Capital lease, asset | 839 | 868.3 | ' | ' | ' | 18.6 | ' | ' |
Capital lease asset and discount on note | ' | ' | ' | ' | ' | $30.20 | ' | ' |
Notes_Receivable_and_Other_Non3
Notes Receivable and Other Non-Current Assets (Notes Receivable and Other Non-Current Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Notes Receivable And Other Long Term Assets [Abstract] | ' | ' |
Long-term prepaid ground rent | $176,313 | $158,935 |
Notes receivable | 89,381 | 114,256 |
Other miscellaneous assets | 179,310 | 179,597 |
Balance as of December 31, | $445,004 | $452,788 |
Acquisitions_Narrative_Details
Acquisitions (Narrative) (Details) (USD $) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Oct. 02, 2013 | Dec. 31, 2013 | Oct. 02, 2013 | Oct. 02, 2013 | Dec. 31, 2013 | Jan. 31, 2013 | Nov. 08, 2013 | Aug. 08, 2013 | Nov. 08, 2013 | Aug. 08, 2013 | Nov. 29, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 31, 2012 | Jun. 30, 2012 | Mar. 30, 2012 | Dec. 28, 2012 | Dec. 04, 2012 | Dec. 20, 2012 | Dec. 31, 2013 | Jun. 29, 2012 | Dec. 08, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Aug. 15, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | ||||
MIPT Acquisition [Member] | MIPT Acquisition [Member] | MIPT Acquisition [Member] | MIPT Acquisition [Member] | MIPT Acquisition [Member] | Axtel Mexico Acquisition [Member] | NII Holdings Acquisition [Member] | NII Holdings Acquisition [Member] | NII Holdings Acquisition [Member] | NII Holdings Acquisition [Member] | Z-Sites Acquisition [Member] | Other International Acquisition [Member] | Other U.S. Acquisition 2013 [Member] | Brazil Vivo Acquisition [Member] | Brazil Vivo Acquisition [Member] | Brazil Vivo Acquisition [Member] | Diamond (U.S.) Acquisition [Member] | Germany Acquisition [Member] | Skyway (U.S.) Acquisition [Member] | Skyway (U.S.) Acquisition [Member] | Uganda Acquisition [Member] | Uganda Acquisition [Member] | Uganda Acquisition [Member] | Uganda Acquisition [Member] | Uganda Acquisition [Member] | Other International Acquisition 2012 [Member] | Other U.S. Acquisition 2012 [Member] | Other U.S. Acquisition 2012 [Member] | Ghana Acquisition [Member] | Other Contingent Consideration [Member] | Other Contingent Consideration [Member] | Other Contingent Consideration [Member] | Other Contingent Consideration [Member] | Colombia Movil Acquisition [Member] | |||||||
Domestic [Member] | Total international | Subsequent Event [Member] | sites | Brazil | Brazil | Mexico | Mexico | sites | sites | sites | sites | sites | sites | sites | sites | sites | sites | sites | sites | sites | sites | sites | Domestic [Member] | Brazil | South Africa | |||||||||||||||
sites | sites | sites | sites | sites | sites | propertyinterests | ||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business combination, pro forma information, revenue of acquiree since acquisition date, actual | $129,800,000 | ' | ' | ' | $84,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business combination pro forma information gross margin of acquiree since acquisition date actual | 94,500,000 | ' | ' | ' | 65,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business combination, acquisition and merger related expenses | 36,200,000 | 25,600,000 | 28,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Number of communications sites acquired | ' | ' | ' | ' | ' | 4,860 | 510 | ' | 883 | 1,940 | ' | 1,483 | ' | 238 | 714 | 55 | 192 | 700 | 800 | 316 | 2,031 | 318 | ' | 962 | ' | ' | ' | ' | 705 | ' | 128 | ' | ' | ' | ' | ' | ' | |||
Aggregate purchase price | ' | ' | ' | 4,858,083,000 | ' | ' | ' | ' | 248,500,000 | 349,000,000 | ' | 436,000,000 | ' | 122,800,000 | 89,800,000 | 65,600,000 | 32,700,000 | 126,300,000 | 151,700,000 | 322,500,000 | 525,700,000 | 169,600,000 | 166,400,000 | 171,500,000 | ' | 169,200,000 | 173,200,000 | ' | 162,700,000 | 146,100,000 | 146,200,000 | ' | ' | ' | ' | ' | ' | |||
Business acquisition, cost of acquired entity, cash paid | ' | ' | ' | 3,330,462,000 | [1] | ' | ' | ' | ' | ' | ' | ' | 436,900,000 | ' | ' | ' | 65,200,000 | ' | ' | ' | 320,100,000 | ' | 169,500,000 | 166,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||
Borrowings under credit facilities | 3,507,000,000 | 2,582,000,000 | 1,005,014,000 | 2,800,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Noncash or part noncash acquisition, value of liabilities assumed | ' | ' | ' | 1,527,621,000 | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 400,000 | ' | ' | ' | 2,400,000 | ' | 100,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Maximum number of communications sites to be acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,790 | ' | 1,666 | ' | ' | ' | ' | ' | 1,500 | ' | ' | ' | ' | ' | 1,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Value added tax receivable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60,300,000 | ' | ' | 4,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 21,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | |||
Noncash or part noncash acquisition, value of assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Partial payment of aggregate purchase price | ' | ' | ' | ' | ' | ' | ' | 14,500,000 | ' | ' | ' | ' | ' | 67,800,000 | 83,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business acquisition cost of acquired entity, purchase price reflected in accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 55,000,000 | 6,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Contingent consideration | 31,890,000 | 23,711,000 | 25,617,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Number of property interests acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 23 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Additional communications sites to be acquired | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Number of property interests acquired under third party sites | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 24 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Number of communications sites returned | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 11 | ' | ' | ' | ' | 7 | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Ownership percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Minority investor percentage | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 49.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Business combination, contingent consideration arrangements, range of outcomes, value, low | 0 | ' | ' | ' | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | ' | ' | ' | ' | 0 | |||
Business combination, contingent consideration arrangements, range of outcomes, value, high | 50,100,000 | ' | ' | ' | 12,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | ' | ' | 36,700,000 | |||
Business combination, updated contingent consideration potential cash payment | ' | ' | ' | ' | 8,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | 0 | ' | ' | 23,000,000 | |||
Additional contingent consideration | 13,474,000 | [2] | 6,653,000 | [2] | ' | ' | 9,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,100,000 | |
Business combination, contingent consideration arrangements, change in amount of contingent consideration, liability | ' | ' | ' | ' | 500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000 | 2,800,000 | ' | ' | ' | 3,100,000 | |||
Previous contingent consideration payments | ' | ' | ' | ' | $700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $300,000 | ' | ' | $3,000,000 | $4,800,000 | ' | |||
[1] | Cash consideration includes $14.5 million of an additional purchase price adjustment which was paid to the sellers subsequent to December 31, 2013. The $14.5 million is reflected in Accrued expenses on the consolidated balance sheet as of December 31, 2013. | |||||||||||||||||||||||||||||||||||||||
[2] | Approximately $9.3 million of the additions to contingent consideration liability relates to the MIPT acquisition. |
Acquisitions_Schedule_of_Aggre
Acquisitions (Schedule of Aggregate Purchase Consideration Paid and the Amount of Assets Acquired) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Oct. 02, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 28, 2012 | Dec. 20, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | |||||||||||||||||||||||||||||||||||||||||
MIPT Acquisition [Member] | MIPT Acquisition [Member] | Other U.S. Acquisition 2013 [Member] | Diamond (U.S.) Acquisition [Member] | Skyway (U.S.) Acquisition [Member] | Skyway (U.S.) Acquisition [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Purchase Price Allocation Adjustments [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | Brazil | Brazil | Mexico | Mexico | Mexico | Maximum | Maximum | Maximum | Maximum | ||||||||||||||||||||||||||||||||||||||||||||
Brazil Vivo Acquisition [Member] | Brazil Vivo Acquisition [Member] | Brazil Vivo Acquisition [Member] | Brazil Vivo Acquisition [Member] | Diamond (U.S.) Acquisition [Member] | Diamond (U.S.) Acquisition [Member] | Diamond (U.S.) Acquisition [Member] | Diamond (U.S.) Acquisition [Member] | Germany Acquisition [Member] | Germany Acquisition [Member] | Germany Acquisition [Member] | Germany Acquisition [Member] | Skyway (U.S.) Acquisition [Member] | Skyway (U.S.) Acquisition [Member] | Skyway (U.S.) Acquisition [Member] | Skyway (U.S.) Acquisition [Member] | Uganda Acquisition [Member] | Uganda Acquisition [Member] | Uganda Acquisition [Member] | Uganda Acquisition [Member] | Other International Acquisition 2012 [Member] | Other International Acquisition 2012 [Member] | Other International Acquisition 2012 [Member] | Other International Acquisition 2012 [Member] | Other U.S. Acquisition 2012 [Member] | Other U.S. Acquisition 2012 [Member] | Other U.S. Acquisition 2012 [Member] | Other U.S. Acquisition 2012 [Member] | MIPT Acquisition [Member] | MIPT Acquisition [Member] | Axtel Mexico Acquisition [Member] | Axtel Mexico Acquisition [Member] | Z-Sites Acquisition [Member] | Z-Sites Acquisition [Member] | Other International Acquisition [Member] | Other International Acquisition [Member] | Other U.S. Acquisition 2013 [Member] | Other U.S. Acquisition 2013 [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | NII Holdings Acquisition [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | Purchase Price Allocation Adjustments [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | Preliminary Purchase Price Allocation [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||
Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | Acquired Network Location [Member] | NII Holdings Acquisition [Member] | NII Holdings Acquisition [Member] | NII Holdings Acquisition [Member] | NII Holdings Acquisition [Member] | MIPT Acquisition [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquired Network Location [Member] | Acquired Network Location [Member] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Business Acquisition [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Cash and cash equivalents | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $35,967,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Restricted cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 30,883,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Accounts receivable, net | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10,021,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Prepaid and other current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 22,875,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Current assets | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [1] | 0 | ' | ' | 842,000 | [1] | 842,000 | ' | ' | 14,043,000 | [1] | 14,483,000 | ' | ' | 530,000 | [1] | 740,000 | ' | ' | 0 | [1] | 0 | ' | ' | 21,911,000 | [1] | 21,911,000 | ' | ' | 0 | [1] | 0 | ' | ' | ' | ' | 0 | [1] | ' | 0 | ' | 4,863,000 | ' | 1,220,000 | ' | 0 | ' | ' | 61,183,000 | [2] | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||
Non-current assets | ' | ' | ' | ' | ' | ' | ' | ' | 22,418,000 | [1] | 24,460,000 | ' | ' | 0 | [1] | 0 | ' | ' | 0 | [1] | 0 | ' | ' | 0 | [1] | 0 | ' | ' | 2,258,000 | [1] | 2,258,000 | ' | ' | 2,309,000 | [1] | 4,196,000 | ' | ' | 153,000 | [1] | 153,000 | ' | ' | ' | ' | 2,626,000 | [1] | ' | 6,157,000 | ' | 1,991,000 | ' | 44,000 | ' | 4,484,000 | ' | ' | 11,969,000 | [2] | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||
Property and equipment | ' | ' | ' | ' | ' | ' | ' | ' | 138,959,000 | [1] | 138,959,000 | ' | ' | 70,836,000 | [1] | 69,045,000 | ' | ' | 203,494,000 | [1] | 233,073,000 | ' | ' | 60,230,000 | [1] | 60,671,000 | ' | ' | 102,366,000 | [1] | 102,366,000 | ' | ' | 66,073,000 | [1] | 61,080,000 | ' | ' | 61,091,000 | [1] | 61,995,000 | ' | ' | 996,901,000 | ' | 86,100,000 | [1] | ' | 24,832,000 | ' | 44,844,000 | ' | 23,803,000 | ' | 105,784,000 | ' | ' | 147,364,000 | [2] | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||
Customer-related intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | 83,012,000 | [1],[3] | 80,010,000 | [3] | ' | ' | 184,637,000 | [1],[3] | 171,300,000 | [3] | ' | ' | 288,330,000 | [1],[3] | 218,146,000 | [3] | ' | ' | 64,400,000 | [1],[3] | 63,000,000 | [3] | ' | ' | 30,500,000 | [1],[3] | 36,500,000 | [3] | ' | ' | 52,911,000 | [1],[3] | 49,227,000 | [3] | ' | ' | 61,266,000 | [1],[3] | 61,966,000 | [3] | ' | ' | 2,629,188,000 | ' | 119,392,000 | [1],[3] | ' | 64,213,000 | [3] | ' | 20,590,000 | [3] | ' | 29,325,000 | [3] | ' | 149,333,000 | [3] | ' | ' | 135,175,000 | [2],[3] | ' | ' | ' | ' | ' | |||||||||||||||||||||
Network location intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 40,983,000 | [1],[3] | 37,980,000 | [3] | ' | ' | 32,152,000 | [1],[3] | 28,400,000 | [3] | ' | ' | 21,997,000 | [1],[3] | 20,819,000 | [3] | ' | ' | 20,500,000 | [1],[3] | 20,700,000 | [3] | ' | ' | 26,000,000 | [1],[3] | 27,000,000 | [3] | ' | ' | 15,935,000 | [1],[3] | 16,442,000 | [3] | ' | ' | 16,133,000 | [1],[3] | 16,233,000 | [3] | ' | 467,300,000 | ' | 43,031,000 | [1],[3] | ' | 17,123,000 | [3] | ' | 20,727,000 | [3] | ' | 7,607,000 | [3] | ' | 93,867,000 | [3] | ' | ' | 63,791,000 | [2],[3] | ' | ' | ' | ' | |||||||||||||||||||||
Notes receivable and other non-current assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4,220,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | 0 | [1] | 0 | ' | ' | -3,216,000 | [1] | -3,216,000 | ' | ' | -2,988,000 | [1] | -2,990,000 | ' | ' | -454,000 | [1] | -454,000 | ' | ' | 0 | [1] | 0 | ' | ' | 0 | [1] | 0 | ' | ' | 0 | [1] | 0 | ' | ' | ' | ' | 0 | [1] | ' | 0 | ' | 0 | ' | -454,000 | ' | 0 | ' | ' | 0 | [2] | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||
Accounts payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -9,249,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Accrued expenses | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -37,004,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Accrued interest | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -3,253,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Current portion of long-term obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -2,820,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Unearned revenue | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -35,753,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Long-term obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -1,573,366,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Asset retirement obligations | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | -43,089,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Other non-current liabilities | ' | ' | ' | ' | ' | ' | ' | ' | -18,195,000 | [1] | -18,195,000 | ' | ' | -3,423,000 | [1] | -3,423,000 | ' | ' | -23,243,000 | [1] | -23,243,000 | ' | ' | -3,233,000 | [1] | -3,333,000 | ' | ' | -7,528,000 | [1] | -7,528,000 | ' | ' | -6,294,000 | [1] | -5,893,000 | ' | ' | -1,310,000 | [1] | -1,310,000 | ' | ' | -37,326,000 | ' | -9,377,000 | [1] | ' | -1,502,000 | ' | -8,168,000 | ' | -786,000 | ' | -13,188,000 | ' | ' | -10,478,000 | [2] | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||
Fair value of net assets acquired | ' | ' | ' | ' | ' | ' | ' | ' | 267,177,000 | [1] | 263,214,000 | ' | ' | 281,828,000 | [1] | 262,948,000 | ' | ' | 501,633,000 | [1] | 460,288,000 | ' | ' | 141,973,000 | [1] | 141,324,000 | ' | ' | 153,596,000 | [1] | 160,596,000 | ' | ' | 152,845,000 | [1] | 146,963,000 | ' | ' | 137,333,000 | [1] | 139,037,000 | ' | ' | 2,455,495,000 | ' | 241,772,000 | [1] | ' | 110,823,000 | ' | 84,847,000 | ' | 60,759,000 | ' | 340,280,000 | ' | ' | 409,004,000 | [2] | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||||||
Goodwill | 3,729,901,000 | 2,842,643,000 | [4] | ' | ' | ' | ' | ' | ' | 43,518,000 | [1],[5] | 47,481,000 | [5] | ' | ' | 38,298,000 | [1],[5] | 57,178,000 | [5] | ' | ' | 24,020,000 | [1],[5] | 65,365,000 | [5] | ' | ' | 24,212,000 | [1],[5] | 28,224,000 | [5] | ' | ' | 15,644,000 | [1],[5] | 12,564,000 | [5] | ' | ' | 9,844,000 | [1],[5] | 15,726,000 | [5] | ' | ' | 8,724,000 | [1],[5] | 7,124,000 | [5] | ' | ' | 874,967,000 | ' | 6,751,000 | [1],[6] | ' | 11,953,000 | [6] | ' | 4,970,000 | [6] | ' | 4,403,000 | [6] | ' | 8,704,000 | [6] | ' | ' | 27,928,000 | [2],[6] | ' | ' | ' | ' | ' | ||||||||||||||||||||
Useful life of intangible assets | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '20 years | '20 years | '20 years | '20 years | |||||||||||||||||||||||||||||||||||||||||
Noncash or part noncash acquisition, value of liabilities assumed | ' | ' | 1,527,621,000 | 1,500,000,000 | 400,000 | 2,400,000 | 100,000 | 200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Liabilities, Fair Value Adjustment | ' | ' | ' | 53,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
Value added tax receivable, current | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $60,300,000 | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||||
[1] | The allocation of the purchase price was finalized during the year ended December 31, 2013. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Current assets includes approximately $60.3 million of value added tax. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Customer-related intangible assets and network location intangible assets are amortized on a straight-line basis over periods of up to 20 years. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Balances have been revised to reflect purchase accounting measurement period adjustments. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Goodwill was allocated to the Company’s domestic and international rental and management segments, as applicable, and the Company expects goodwill recorded will be deductible for tax purposes, except for Uganda where goodwill is not expected to be deductible and South Africa where goodwill is expected to be partially deductible. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | Goodwill was allocated to the Company’s domestic and international rental and management segments, as applicable, and the Company expects goodwill recorded will be deductible for tax purposes |
Acquisitions_Pro_Forma_Informa
Acquisitions (Pro Forma Information) (Details) (USD $) | 12 Months Ended | |
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 |
Business Acquisition, Pro Forma Information [Abstract] | ' | ' |
Pro forma operating revenues | $3,742,170 | $3,368,656 |
Pro forma net income attributable to American Tower Corporation | $458,954 | $483,690 |
Basic net income attributable to American Tower Corporation (in dollars per share) | $1.16 | $1.23 |
Diluted net income attributable to American Tower Corporation (in dollars per share) | $1.15 | $1.21 |
Acquisitions_Schedule_of_Consi
Acquisitions (Schedule of Consideration Transferred) (Details) (MIPT Acquisition [Member], USD $) | 0 Months Ended | 12 Months Ended | |
Oct. 02, 2013 | Dec. 31, 2013 | ||
Fair Value Of Consideration Transferred [Line Items] | ' | ' | |
Business acquisition, cost of acquired entity, cash paid | $3,330,462,000 | [1] | ' |
Noncash or part noncash acquisition, value of liabilities assumed | 1,527,621,000 | 1,500,000,000 | |
Aggregate purchase price | 4,858,083,000 | ' | |
Business acquisition cost of acquired entity purchase price reflected in accrued expenses | ' | 14,500,000 | |
Subsequent Event [Member] | ' | ' | |
Fair Value Of Consideration Transferred [Line Items] | ' | ' | |
Partial payment of aggregate purchase price | ' | $14,500,000 | |
[1] | Cash consideration includes $14.5 million of an additional purchase price adjustment which was paid to the sellers subsequent to December 31, 2013. The $14.5 million is reflected in Accrued expenses on the consolidated balance sheet as of December 31, 2013. |
Accrued_Expenses_Details
Accrued Expenses (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Accrued Liabilities, Current [Abstract] | ' | ' |
Accrued property and real estate taxes | $54,529 | $36,814 |
Accrued construction costs | 52,446 | 20,711 |
Payroll and related withholdings | 50,843 | 37,586 |
Accrued rent | 28,456 | 24,394 |
Other accrued expenses | 229,050 | 167,457 |
Balance as of December 31 | $415,324 | $286,962 |
LongTerm_Obligations_Narrative
Long-Term Obligations (Narrative) (Details) | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 3 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 0 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Jan. 10, 2014 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 20, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Aug. 19, 2013 | Jan. 10, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2007 | Mar. 15, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 02, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Jan. 08, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jun. 28, 2013 | Dec. 31, 2012 | Jun. 28, 2013 | Jun. 28, 2013 | Jun. 28, 2013 | Jun. 28, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Mar. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Jan. 10, 2014 | Oct. 29, 2013 | Jan. 08, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Dec. 30, 2013 | Oct. 29, 2013 | Jan. 10, 2014 | Jan. 08, 2013 | Dec. 31, 2013 | Jun. 28, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 29, 2012 | Dec. 31, 2013 | Aug. 19, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Aug. 19, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 10, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Sep. 30, 2013 | Aug. 06, 2013 | Aug. 06, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Nov. 05, 2013 | Nov. 05, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | ||||||||||||||||||||||||||||||||||
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Secured Cellular Site Revenue Notes [Member] | Secured Cellular Site Revenue Notes [Member] | London Interbank Offered Rate (LIBOR) [Member] | USD ($) | London Interbank Offered Rate (LIBOR) [Member] | Minimum | Minimum | Maximum | Maximum | Maximum | USD ($) | USD ($) | USD ($) | interest_rate_swap | COP | USD ($) | COP | USD ($) | interest_rate_swap | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Series 2010-1 Class C [Member] | Series 2010-2 Class C [Member] | Series 20102 Class F [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | MIPT [Member] | Minimum | Maximum | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Multicurrency Borrowings [Member] | Letter of Credit [Member] | Swingline Loan [Member] | Additional Commitments [Member] | London Interbank Offered Rate (LIBOR) [Member] | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Subsequent Event [Member] | USD ($) | USD ($) | London Interbank Offered Rate (LIBOR) [Member] | Minimum | Minimum | Maximum | Maximum | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | London Interbank Offered Rate (LIBOR) [Member] | Minimum | Minimum | Minimum | Maximum | Maximum | Maximum | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | derivative | USD ($) | ZAR | USD ($) | USD ($) | USD ($) | COP | USD ($) | USD ($) | USD ($) | COP | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | MXN | USD ($) | MXN | USD ($) | Minimum | Maximum | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||||
Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | Base Rate [Member] | derivative | subsidiary | towers | towers | Series | propertyinterests | USD ($) | renewal_periods | USD ($) | USD ($) | USD ($) | USD ($) | London Interbank Offered Rate (LIBOR) [Member] | Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | Base Rate [Member] | USD ($) | London Interbank Offered Rate (LIBOR) [Member] | Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | Base Rate [Member] | London Interbank Offered Rate (LIBOR) [Member] | Base Rate [Member] | USD ($) | USD ($) | USD ($) | Loan | Loan | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
propertyinterests | subsidiary | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Number of communications sites | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,295 | 5,195 | ' | 3,893 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Number of subsidiaries | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Proceeds from the issuance of debt | ' | ' | ' | $763,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $1,238,700,000 | ' | ' | ' | ' | $1,780,000,000 | ' | ' | ' | ' | ' | ' | ' | $983,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Long-term debt | 14,478,278,000 | 8,753,376,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,697,000 | [1],[2] | 19,176,000 | [1],[2] | ' | ' | ' | ' | 135,000,000,000 | 70,063,000 | [3],[4] | ' | 76,347,000 | [3],[4] | ' | 32,600,000 | [3] | 0 | [3] | 205,436,000 | [2] | 207,188,000 | [2] | 209,300,000 | ' | ' | ' | ' | ' | 0 | 1,750,000,000 | 1,750,000,000 | 1,800,000,000 | ' | 1,537,881,000 | [5] | 1,490,000,000 | 0 | [5] | ' | ' | ' | ' | 992,520,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,500,000,000 | [3] | 0 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 750,000,000 | 750,000,000 | 749,373,000 | ' | 0 | 499,455,000 | ' | 0 | ' | ' | ' | ' | ' | 88,334,000 | [3],[6] | ' | 98,456,000 | [3],[6] | ' | 108,000,000,000 | ' | ' | ' | ' | ' | ' | 158,327,000 | [7] | 130,951,000 | [7] | 66,926,000 | [3],[8] | 61,023,000 | [3],[8] | ' | ' | 377,470,000 | [3],[9] | 4,900,000,000 | 0 | [3],[9] | ' | ' | ' | ' | |||||||||||||
Series of securities, number | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Loss on retirement of long-term obligations | -38,701,000 | -398,000 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 35,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Payments of debt, extinguishment costs | 29,234,000 | 0 | 0 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 29,200,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Write off of deferred issuance costs | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,700,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Weighted average life, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '8 years 7 months | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Weighted average, interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 10.13% | 10.13% | ' | ' | 6.90% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.65% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 9.89% | 9.89% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Cash trap, DSCR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.3 | 1.3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Minimum, DSCR | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.15 | 1.15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Restricted cash | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 103,200,000 | 26,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Property interests under communications sites | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,470 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,717 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Notional value of interest rate swaps | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 52,547,000 | 101,250,000,000 | 57,261,000 | 101,250,000,000 | ' | 52,547,000 | 101,250,000,000 | ' | 42,000,000 | 42,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 44,732,000 | 469,354,000 | 49,995,000 | 423,634,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Long-term debt, face value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,600,000 | ' | ' | ' | 196,000,000 | ' | ' | ' | ' | 250,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 750,000,000 | 750,000,000 | ' | 500,000,000 | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Long-term debt, stated interest rate | ' | ' | ' | ' | 5.35% | 9.52% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.30% | [1],[10],[2] | ' | ' | ' | ' | ' | ' | 8.17% | 8.17% | ' | ' | ' | ' | ' | ' | ' | 5.35% | 6.39% | 9.52% | ' | 3.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2.36% | 8.11% | 3.50% | 3.50% | [10] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.40% | [10] | 3.40% | ' | 5.00% | [10] | 5.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | ' | ' | ' | 7.94% | [10],[11] | ' | ' | ' | 9.00% | [10],[7] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||
Interest rate at period end | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.17% | [10],[3],[4] | 8.17% | [10],[3],[4] | ' | ' | 5.74% | [10],[3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.42% | [10],[3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.42% | [10],[3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.80% | [10],[3] | ' | 1.80% | [10],[3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 8.97% | [10],[3],[6] | 8.97% | [10],[3],[6] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.98% | [10],[3],[8] | ' | ' | ' | 4.04% | [10],[3],[9] | 4.04% | [10],[3],[9] | ' | ' | ' | ' | ' | |||||||||||||||||||||
Percentage of debt hedged by interest rate swap agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 70.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 50.00% | 50.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 50.00% | 75.00% | |||||||||||||||||||||||||||||||||
Number of interest rate swap agreements | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1 | 1 | ' | ' | ' | ' | ' | ' | 3 | 3 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 15 | 15 | 15 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Debt instrument, basis spread on variable rate | ' | ' | ' | ' | ' | ' | 1.13% | ' | ' | ' | 1.25% | ' | 0.13% | ' | 2.00% | 1.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.25% | ' | 1.13% | 0.13% | ' | 2.00% | 1.00% | ' | ' | ' | 1.25% | 1.13% | 0.13% | 2.25% | 1.25% | ' | ' | ' | ' | ' | ' | ' | 1.63% | ' | 1.08% | 0.08% | ' | 2.40% | 1.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.25% | 0.25% | ' | 0.25% | 1.50% | ' | ' | |||||||||||||||||||||||||||||||||
Number of bridge loans | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5 | 5 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Short term borrowings | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 53,169,000 | [11] | 94,000,000,000 | 56,058,000 | [11] | 48,800,000 | 7,300,000 | 14,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||
Line of credit facility, maximum borrowing capacity | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | 10,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,000,000,000 | 1,500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,000,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5,200,000,000 | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Noncontrolling interest, ownership percentage by parent | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 60.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 51.00% | ' | 51.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Base rate borrowing margin | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.00% | 5.00% | ' | ' | 5.50% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 3.75% | 3.75% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.30% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Term of the loan, years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '4 years | '4 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Repayments of long-term debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 700,000 | ' | ' | 1,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Line of credit facility, amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,853,000,000 | [3] | ' | 0 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 88,000,000 | [3] | ' | 88,000,000 | [3] | 992,000,000 | [3] | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,143,000,000 | ' | 0 | ' | 265,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 926,900,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||||||||||||||||||||
Letters of credit, amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7,500,000 | ' | 7,500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Borrowings under credit facilities | 3,507,000,000 | 2,582,000,000 | 1,005,014,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 16,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1,853,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 963,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 12,000,000 | 116,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 374,700,000 | 4,900,000,000 | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Repayment of indebtedness under credit facility | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 710,000,000 | ' | ' | ' | ' | ' | ' | ' | 88,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Line of credit facility, capacity available | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 750,000,000 | ' | ' | 1,000,000,000 | 200,000,000 | 50,000,000 | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | 500,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 300,000,000 | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Repayments of debt | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000,000 | 718,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 75,000,000 | 800,000,000 | ' | 265,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2,500,000 | 23,800,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Line of credit facility, commitment fee percentage | ' | ' | ' | ' | ' | ' | ' | ' | 0.15% | ' | ' | 0.13% | ' | 0.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.15% | ' | ' | ' | ' | ' | ' | ' | 0.13% | ' | ' | 0.40% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 0.23% | ' | ' | 0.13% | ' | ' | 0.45% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Debt instrument, term | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | '5 years 0 months 0 days | ' | ' | ' | ' | '5 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Annual renewal periods, number | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 2 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Ratio of total debt to EBITDA | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.5 | ' | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.5 | ' | 6.5 | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 6.5 | 6 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Limit on indebtedness | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 800,000,000 | 600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Threshold for certain defaults of indebtedness | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 250,000,000 | 200,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Debt amount of principal redemption percentage | ' | ' | ' | ' | ' | ' | ' | 100.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Repurchase price as a percentage of principal | ' | ' | ' | ' | ' | ' | ' | 101.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Capital lease obligations | $73,400,000 | $57,300,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Capital lease obligation and notes payable, interest rates, minimum | 2.57% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Capital lease obligation and notes payable, interest rate, maximum | 8.00% | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Capital lease obligation and notes payable, interest maturity, minimum | '1 year | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
Capital lease obligation and notes payable, maturity, maximum | '70 years | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||
[1] | Includes approximately $0.5 million of capitalized accrued interest pursuant to the terms of the loan agreement. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Includes approximately $9.4 million of unamortized premium recorded as a result of fair value adjustments recognized upon acquisition of Unison. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Interest rate as of December 31, 2013. Debt accrues interest at a variable rate. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Denominated in COP. As of December 31, 2013, the aggregate principal amount outstanding under the Colombian long-term credit facility 135.0 billion COP. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Includes approximately $48.0 million of unamortized premium recorded as a result of fair value adjustments for debt assumed upon acquisition of MIPT. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | Denominated in South African Rand (“ZARâ€). As of December 31, 2013, the aggregate principal amount outstanding under the South African facility is 926.9 million ZAR. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | Includes approximately $27.4 million of capitalized accrued interest pursuant to the terms of the loan agreement. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | Includes approximately $5.9 million of capitalized accrued interest pursuant to the terms of the loan agreement. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | Denominated in Mexican Pesos (“MXNâ€). As of December 31, 2013, the aggregate principal amount outstanding under the Mexican Loan is 4.9 billion MXN. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[10] | Represents the interest rate and maturity date as of December 31, 2013 and does not reflect the impact of interest rate swap agreements. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[11] | Denominated in Colombian Pesos (“COPâ€). As of December 31, 2013, the aggregate principal amount outstanding under the bridge loans is 108.0 billion COP. |
LongTerm_Obligations_LongTerm_
Long-Term Obligations (Long-Term Financing Arrangements) (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2007 | Mar. 15, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Oct. 02, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 29, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Aug. 19, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Jan. 08, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Aug. 19, 2013 | Dec. 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | Subsidiaries [Member] | Subsidiaries [Member] | Parent [Member] | Parent [Member] | Secured Debt [Member] | Secured Debt [Member] | Commercial Mortgage Pass Through Certificates Series 2007 [Member] | Commercial Mortgage Pass Through Certificates Series 2007 [Member] | Commercial Mortgage Pass Through Certificates Series 2007 [Member] | Commercial Mortgage Pass Through Certificates Series 2013 [Member] | Commercial Mortgage Pass Through Certificates Series 2013 [Member] | Commercial Mortgage Pass Through Certificates Series 2013 [Member] | GTP Notes [Member] | GTP Notes [Member] | GTP Notes [Member] | Costa Rica Loan [Member] | Costa Rica Loan [Member] | Secured Cellular Site Revenue Notes [Member] | Secured Cellular Site Revenue Notes [Member] | Secured Cellular Site Revenue Notes [Member] | Colombian Bridge Loan [Member] | Colombian Bridge Loan [Member] | Mexican loan [Member] | Mexican loan [Member] | Mexican loan [Member] | Ghana Loan [Member] | Ghana Loan [Member] | Uganda Loan [Member] | Uganda Loan [Member] | South African Facility [Member] | South African Facility [Member] | South African Facility [Member] | Colombian Long Term Credit Facility [Member] | Colombian Long Term Credit Facility [Member] | Colombian Long Term Credit Facility [Member] | Colombian Loan [Member] | Colombian Loan [Member] | Credit Facility 2011 [Member] | Credit Facility 2011 [Member] | Credit Facility 2012 [Member] | Credit Facility 2012 [Member] | Credit Facility 2013 [Member] | Credit Facility 2013 [Member] | Term Loan 2012 [Member] | Term Loan 2012 [Member] | Term Loan 2012 [Member] | Term Loan 2013 [Member] | Term Loan 2013 [Member] | 4.625% Senior Notes [Member] | 4.625% Senior Notes [Member] | 7.00% Senior Notes [Member] | 7.00% Senior Notes [Member] | 4.50% Senior Notes [Member] | 4.50% Senior Notes [Member] | 3.40% Senior Notes [Member] | 3.40% Senior Notes [Member] | 3.40% Senior Notes [Member] | 7.25% Senior Notes [Member] | 7.25% Senior Notes [Member] | 5.05% Senior Notes [Member] | 5.05% Senior Notes [Member] | 5.90% Senior Notes [Member] | 5.90% Senior Notes [Member] | 4.70% Senior Notes [Member] | 4.70% Senior Notes [Member] | 3.50% Senior Notes [Member] | 3.50% Senior Notes [Member] | 3.50% Senior Notes [Member] | 5.00% Senior Notes [Member] | 5.00% Senior Notes [Member] | 5.00% Senior Notes [Member] | ||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | Secured Tower Revenue Securities, Series 2013-1A [Member] | Secured Tower Revenue Securities, Series 2013-2A [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | Secured Debt [Member] | COP | Short-term Debt [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Secured Debt [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | |||||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | Secured Tower Revenue Securities, Series 2013-1A [Member] | Secured Tower Revenue Securities, Series 2013-2A [Member] | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | MXN | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ZAR | USD ($) | COP | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | |||||||||||||||||||||||||||||||||||||||||||||||||
USD ($) | USD ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Line of credit facility, amount outstanding | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 926,900,000 | ' | ' | ' | ' | ' | ' | $0 | $265,000,000 | $88,000,000 | [1] | $992,000,000 | [1] | $1,853,000,000 | [1] | $0 | [1] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||
Long-term debt, stated interest rate | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 1.55% | [2] | 3.07% | [2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | 7.94% | [2],[3] | ' | ' | ' | 9.00% | [2],[4] | ' | ' | ' | ' | ' | ' | ' | 8.17% | ' | 8.30% | [2],[5],[6] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 4.63% | [2] | ' | 7.00% | [2] | ' | 4.50% | [2] | ' | 3.40% | [2] | 3.40% | ' | 7.25% | [2] | ' | 5.05% | [2] | ' | 5.90% | [2] | ' | 4.70% | [2] | ' | 3.50% | [2] | 3.50% | ' | 5.00% | [2] | 5.00% | ' | ||||||||||||||||||||||||
Long-term debt, interest rate at period end | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 5.74% | [1],[2] | ' | ' | ' | ' | ' | ' | 4.04% | [1],[2],[7] | 4.04% | [1],[2],[7] | ' | ' | ' | 5.98% | [1],[2],[8] | ' | 8.97% | [1],[2],[9] | 8.97% | [1],[2],[9] | ' | ' | 8.17% | [1],[10],[2] | ' | ' | ' | ' | ' | 1.80% | [1],[2] | ' | 1.42% | [1],[2] | ' | ' | ' | ' | 1.42% | [1],[2] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||
Long-term debt, face value | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 32,600,000 | ' | ' | ' | 196,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 600,000,000 | ' | 500,000,000 | ' | 1,000,000,000 | ' | 750,000,000 | 750,000,000 | ' | 300,000,000 | ' | 700,000,000 | ' | 500,000,000 | ' | 700,000,000 | ' | ' | 1,000,000,000 | ' | 500,000,000 | 500,000,000 | ' | |||||||||||||||||||||||||||||||||||||||
Other debt, including capital lease obligations | 73,378,000 | 57,293,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Less current portion of long-term obligations | -70,132,000 | -60,031,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Total long term obligation | 14,478,278,000 | 8,753,376,000 | ' | 4,428,792,000 | 2,396,310,000 | 9,976,108,000 | 6,299,773,000 | 0 | 0 | 0 | 1,750,000,000 | 1,750,000,000 | 1,800,000,000 | 500,000,000 | 1,300,000,000 | 1,537,881,000 | [11] | 1,490,000,000 | 0 | [11] | 32,600,000 | [1] | 0 | [1] | 205,436,000 | [6] | 207,188,000 | [6] | 209,300,000 | 108,000,000,000 | ' | 377,470,000 | [1],[7] | 4,900,000,000 | 0 | [1],[7] | 158,327,000 | [4] | 130,951,000 | [4] | 66,926,000 | [1],[8] | 61,023,000 | [1],[8] | 88,334,000 | [1],[9] | ' | 98,456,000 | [1],[9] | 135,000,000,000 | 70,063,000 | [1],[10] | 76,347,000 | [1],[10] | 35,697,000 | [5],[6] | 19,176,000 | [5],[6] | ' | ' | ' | ' | ' | ' | 0 | 750,000,000 | 750,000,000 | 1,500,000,000 | [1] | 0 | [1] | 599,794,000 | 599,638,000 | 500,000,000 | 500,000,000 | 999,520,000 | 999,414,000 | 749,373,000 | ' | 0 | 296,748,000 | 296,272,000 | 699,413,000 | 699,333,000 | 499,414,000 | 499,356,000 | 698,871,000 | 698,760,000 | 992,520,000 | ' | 0 | 499,455,000 | ' | 0 | |||||||||||||||||||
Long-term debt, excluding current maturities | 14,408,146,000 | 8,693,345,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Debt instrument, unamortized premium | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 48,000,000 | ' | ' | ' | ' | 9,400,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
Interest costs capitalized | $1,800,000 | $1,900,000 | $2,100,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | $27,400,000 | ' | $5,900,000 | ' | ' | ' | ' | ' | ' | ' | $500,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||||||||||||||||||||||||||||||||||||||
[1] | Interest rate as of December 31, 2013. Debt accrues interest at a variable rate. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[2] | Represents the interest rate and maturity date as of December 31, 2013 and does not reflect the impact of interest rate swap agreements. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[3] | Denominated in Colombian Pesos (“COPâ€). As of December 31, 2013, the aggregate principal amount outstanding under the bridge loans is 108.0 billion COP. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[4] | Includes approximately $27.4 million of capitalized accrued interest pursuant to the terms of the loan agreement. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[5] | Includes approximately $0.5 million of capitalized accrued interest pursuant to the terms of the loan agreement. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[6] | Includes approximately $9.4 million of unamortized premium recorded as a result of fair value adjustments recognized upon acquisition of Unison. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[7] | Denominated in Mexican Pesos (“MXNâ€). As of December 31, 2013, the aggregate principal amount outstanding under the Mexican Loan is 4.9 billion MXN. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[8] | Includes approximately $5.9 million of capitalized accrued interest pursuant to the terms of the loan agreement. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[9] | Denominated in South African Rand (“ZARâ€). As of December 31, 2013, the aggregate principal amount outstanding under the South African facility is 926.9 million ZAR. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[10] | Denominated in COP. As of December 31, 2013, the aggregate principal amount outstanding under the Colombian long-term credit facility 135.0 billion COP. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
[11] | Includes approximately $48.0 million of unamortized premium recorded as a result of fair value adjustments for debt assumed upon acquisition of MIPT. |
LongTerm_Obligations_Schedule_
Long-Term Obligations (Schedule of GTP Securitizations) (Details) (USD $) | 12 Months Ended | ||||
Dec. 31, 2013 | Oct. 02, 2013 | Dec. 31, 2012 | |||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt | $14,478,278,000 | ' | $8,753,376,000 | ||
Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt | 1,537,881,000 | [1] | 1,490,000,000 | 0 | [1] |
Repayments of long-term debt | 700,000 | ' | ' | ||
Series 2010-1 Class C Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt, stated interest rate | 4.44% | ' | ' | ||
Series 2010-1 Class C Notes [Member] | Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount | 200,000,000 | ' | ' | ||
Series 2010-1 Class F Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt, stated interest rate | 8.11% | ' | ' | ||
Series 2010-1 Class F Notes [Member] | Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount | 50,000,000 | ' | ' | ||
Series 2011-1 Class C Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt, stated interest rate | 3.97% | ' | ' | ||
Series 2011-1 Class C Notes [Member] | Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount | 70,000,000 | ' | ' | ||
Series 2011-2 Class C Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt, stated interest rate | 4.35% | ' | ' | ||
Series 2011-2 Class C Notes [Member] | Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount | 490,000,000 | ' | ' | ||
Series 2011-2 Class F Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt, stated interest rate | 7.63% | ' | ' | ||
Series 2011-2 Class F Notes [Member] | Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount | 155,000,000 | ' | ' | ||
Series 2012-1 Class A Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt, stated interest rate | 3.72% | [2] | ' | ' | |
Series 2012-1 Class A Notes [Member] | Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount | 100,000,000 | [2] | ' | ' | |
Series 2012-2 Class A Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt, stated interest rate | 4.34% | [2] | ' | ' | |
Series 2012-2 Class A Notes [Member] | Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount | 114,000,000 | [2] | ' | ' | |
Series 2012-2 Class B Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt, stated interest rate | 6.41% | ' | ' | ||
Series 2012-2 Class B Notes [Member] | Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount | 41,000,000 | ' | ' | ||
Series 2012-2 Class C Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt, stated interest rate | 7.36% | ' | ' | ||
Series 2012-2 Class C Notes [Member] | Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount | 27,000,000 | ' | ' | ||
Series 2013-1 Class C Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt, stated interest rate | 2.36% | ' | ' | ||
Series 2013-1 Class C Notes [Member] | Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount | 190,000,000 | ' | ' | ||
Series 2013-1 Class F Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Long-term debt, stated interest rate | 4.70% | ' | ' | ||
Series 2013-1 Class F Notes [Member] | Secured Debt [Member] | GTP Notes [Member] | ' | ' | ' | ||
Debt Instrument [Line Items] | ' | ' | ' | ||
Principal amount | $55,000,000 | ' | ' | ||
[1] | Includes approximately $48.0 million of unamortized premium recorded as a result of fair value adjustments for debt assumed upon acquisition of MIPT. | ||||
[2] | Does not reflect MIPT’s repayment of approximately $1.4 million aggregate principal amount prior to the date of acquisition and the Company’s repayment of approximately $0.7 million aggregate principal amount after the date of acquisition in accordance with the repayment schedules. |
LongTerm_Obligations_Aggregate
Long-Term Obligations (Aggregate Carrying Value of Long-Term Debt) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Debt Instrument [Line Items] | ' | ' |
2014 | $70,132 | ' |
2015 | 1,252,591 | ' |
2016 | 912,402 | ' |
2017 | 787,297 | ' |
2018 | 3,643,836 | ' |
Thereafter | 7,769,480 | ' |
Total cash obligations | 14,435,738 | ' |
Unamortized discounts and premiums, net | -42,540 | ' |
Balance as of December 31, 2013 | $14,478,278 | $8,753,376 |
LongTerm_Obligations_Schedule_1
Long-Term Obligations (Schedule of Debt Discounts) (Details) (Senior Notes [Member], USD $) | Dec. 31, 2013 | Aug. 19, 2013 | Dec. 31, 2012 |
4.625% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Unamortized (Discount) | ($206,000) | ' | ($362,000) |
Principal amount | 600,000,000 | ' | ' |
7.00% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Unamortized (Discount) | 0 | ' | 0 |
Principal amount | 500,000,000 | ' | ' |
4.50% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Unamortized (Discount) | -480,000 | ' | -586,000 |
Principal amount | 1,000,000,000 | ' | ' |
3.40% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Unamortized (Discount) | -627,000 | ' | 0 |
Principal amount | 750,000,000 | 750,000,000 | ' |
7.25% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Unamortized (Discount) | -3,252,000 | ' | -3,728,000 |
Principal amount | 300,000,000 | ' | ' |
5.05% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Unamortized (Discount) | -587,000 | ' | -667,000 |
Principal amount | 700,000,000 | ' | ' |
5.90% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Unamortized (Discount) | -586,000 | ' | -644,000 |
Principal amount | 500,000,000 | ' | ' |
4.70% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Unamortized (Discount) | -1,129,000 | ' | -1,240,000 |
Principal amount | 700,000,000 | ' | ' |
3.50% Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Unamortized (Discount) | -7,480,000 | ' | 0 |
Principal amount | 1,000,000,000 | ' | ' |
5.00% Senior Notes [Member] | ' | ' | ' |
Debt Instrument [Line Items] | ' | ' | ' |
Unamortized (Discount) | -545,000 | ' | 0 |
Principal amount | $500,000,000 | $500,000,000 | ' |
Other_NonCurrent_Liabilities_O
Other Non-Current Liabilities (Other Non-Current Liabilities) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | |
In Thousands, unless otherwise specified | |||
Other Liabilities, Noncurrent [Abstract] | ' | ' | |
Unearned revenue | $278,295 | $164,032 | [1] |
Deferred rent liability | 273,318 | 254,494 | [1] |
Other miscellaneous liabilities | 271,145 | 225,575 | [1] |
Balance as of December 31, | $822,758 | $644,101 | [1] |
[1] | December 31, 2012 balances have been revised to reflect purchase accounting measurement period adjustments. |
Asset_Retirement_Obligations_N
Asset Retirement Obligations (Narrative) (Details) (USD $) | Dec. 31, 2013 |
In Billions, unless otherwise specified | |
Asset Retirement Obligation [Abstract] | ' |
Estimated undiscounted future cash outlay for asset retirement obligations | $1.80 |
Asset_Retirement_Obligations_C
Asset Retirement Obligations (Carrying Value of Asset Retirement Obligations) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | |||
Asset Retirement Obligation [Abstract] | ' | ' | ||
Asset Retirement Obligation, Foreign Currency Translation | $20,000,000 | ' | ||
Asset Retirement Obligation, Roll Forward Analysis [Roll Forward] | ' | ' | ||
Beginning balance as of January 1, | 435,624,000 | 344,180,000 | ||
Additions | 94,651,000 | 59,747,000 | ||
Accretion expense | 34,045,000 | 25,056,000 | ||
Revisions in estimates | -36,492,000 | [1] | 6,641,000 | [1] |
Settlements | -959,000 | 0 | ||
Balance as of December 31, | $526,869,000 | $435,624,000 | ||
[1] | (2)For the year ended December 31, 2013, revisions in estimates include the impact of approximately $19.8 million of foreign currency translation. |
Derivative_Financial_Instrumen2
Derivative Financial Instruments (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Derivative [Line Items] | ' | ' | ' |
Amount reclassified into earnings over the next 12 months | $1,900,000 | ' | ' |
Reclassification of unrealized losses on cash flow hedges to net income, net of tax | -2,572,000 | -1,132,000 | -225,000 |
Reclassification of unrealized losses on cash flow hedges to net income, tax | 237,000 | 208,000 | 74,000 |
Deferred tax assets reclassified due to REIT conversion | 0 | 0 | 1,752,000 |
Costa Rica Loan [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Number of interest rate swap agreements | 3 | ' | ' |
Colombian Long-Term Credit Facility [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Number of interest rate swap agreements | 1 | ' | ' |
Interest rate | 5.78% | ' | ' |
South African Facility [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Number of interest rate swap agreements | 15 | ' | ' |
Securitization 2007 [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Reclassification of unrealized losses on cash flow hedges to net income, net of tax | ' | 200,000 | 400,000 |
Reclassification of unrealized losses on cash flow hedges to net income, tax | ' | ' | 200,000 |
7.00% Senior Notes [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Reclassification of unrealized losses on cash flow hedges to net income, net of tax | 800,000 | 800,000 | 500,000 |
Reclassification of unrealized losses on cash flow hedges to net income, tax | ' | ' | $300,000 |
Minimum | Costa Rica Loan [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Interest rate | 1.62% | ' | ' |
Minimum | South African Facility [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Interest rate | 6.09% | ' | ' |
Maximum | Costa Rica Loan [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Interest rate | 2.41% | ' | ' |
Maximum | South African Facility [Member] | ' | ' | ' |
Derivative [Line Items] | ' | ' | ' |
Interest rate | 7.83% | ' | ' |
Derivative_Financial_Instrumen3
Derivative Financial Instruments (Schedule of Derivative Financial Instruments) (Details) | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 |
In Thousands, unless otherwise specified | South African Facility [Member] | South African Facility [Member] | South African Facility [Member] | South African Facility [Member] | Colombian Long-Term Credit Facility [Member] | Colombian Long-Term Credit Facility [Member] | Colombian Long-Term Credit Facility [Member] | Colombian Long-Term Credit Facility [Member] | Costa Rica Loan [Member] |
USD ($) | ZAR | USD ($) | ZAR | USD ($) | COP | USD ($) | COP | USD ($) | |
Derivative [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Notional Amount | $44,732 | 469,354 | $49,995 | 423,634 | $52,547 | 101,250,000 | $57,261 | 101,250,000 | $42,000 |
Derivative liability, fair value | ' | ' | -2,412 | -20,441 | -1,557 | -3,000,236 | -3,029 | -5,356,377 | -628 |
Derivative asset, fair value | $90 | 939 | ' | ' | ' | ' | ' | ' | ' |
Derivative_Financial_Instrumen4
Derivative Financial Instruments (Schedule of Interest Rate Swap Agreements Impact on Other Comprehensive Income) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Summary of Derivative Instruments [Abstract] | ' | ' | ' |
Gain(Loss) Recognized in OCI - Effective Portion | $1,481 | ($6,220) | ($228) |
Gain(Loss) Reclassified from Accumulated OCI into Income - Effective Portion | ($2,809) | ($1,340) | ($2,205) |
Fair_Value_Measurements_Narrat
Fair Value Measurements (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Business combination, contingent consideration arrangements, range of outcomes, value, low | $0 | ' | ' |
Business combination, contingent consideration arrangements, range of outcomes, value, high | 50,100,000 | ' | ' |
Assets held and used, original carrying value | 8,554,500,000 | 5,379,200,000 | ' |
Assets held and used long lived, net realizable value | 8,538,600,000 | 5,357,700,000 | ' |
Impairment charges to write down certain assets to net realizable value | 15,900,000 | 21,500,000 | 9,000,000 |
Carrying value and fair value of long-term obligations, including current portion | 14,478,278,000 | 8,753,376,000 | ' |
Estimate of Fair Value Measurement [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Carrying value and fair value of long-term obligations, including current portion | 14,700,000,000 | 9,400,000,000 | ' |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Carrying value and fair value of long-term obligations, including current portion | 8,600,000,000 | 4,900,000,000 | ' |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ' | ' | ' |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' |
Carrying value and fair value of long-term obligations, including current portion | $6,100,000,000 | $4,500,000,000 | ' |
Fair_Value_Measurements_Assets
Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||
In Thousands, unless otherwise specified | |||||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ||
Short-term investments | $18,612 | [1] | $6,018 | [1] | ' |
Interest rate swap agreements, asset | 90 | ' | ' | ||
Acquisition-related contingent consideration | 31,890 | 23,711 | 25,617 | ||
Interest rate swap agreements, liability | 2,185 | 5,442 | ' | ||
Fair Value, Inputs, Level 1 [Member] | ' | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ||
Short-term investments | ' | 6,018 | [1] | ' | |
Fair Value, Inputs, Level 2 [Member] | ' | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ||
Short-term investments | 18,612 | [1] | ' | ' | |
Interest rate swap agreements, asset | 90 | ' | ' | ||
Interest rate swap agreements, liability | 2,185 | 5,442 | ' | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ' | ||
Acquisition-related contingent consideration | $31,890 | $23,711 | ' | ||
[1] | Consists of highly liquid investments with original maturities in excess of three months. |
Fair_Value_Measurements_Contin
Fair Value Measurements (Contingent Consideration) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Acquisition-related contingent consideration | $31,890 | $23,711 | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Balance as of January 1 | 23,711 | 25,617 | ||
Additions | 13,474 | [1] | 6,653 | [1] |
Payments | -8,789 | -15,716 | ||
Change in fair value | 5,743 | 6,329 | ||
Foreign currency translation adjustment | -2,249 | 828 | ||
Balance as of December 31 | 31,890 | 23,711 | ||
MIPT Acquisition [Member] | ' | ' | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Additions | 9,300 | ' | ||
Fair Value, Inputs, Level 3 [Member] | ' | ' | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ' | ' | ||
Acquisition-related contingent consideration | 31,890 | 23,711 | ||
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward] | ' | ' | ||
Balance as of December 31 | $31,890 | $23,711 | ||
[1] | Approximately $9.3 million of the additions to contingent consideration liability relates to the MIPT acquisition. |
Accumulated_Other_Comprehensiv2
Accumulated Other Comprehensive Loss (Schedule Of Accumulated Other Comprehensive Loss) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | |
Reclassification of unrealized losses on cash flow hedges to net income, tax | $237 | $208 | $74 | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | |
Balance | -311,220 | -183,347 | ' | |
Other comprehensive income (loss) before reclassifications, net of tax | -130,293 | ' | ' | |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 2,420 | ' | ' | |
Net current-period other comprehensive income (loss) | -127,873 | ' | ' | |
Foreign Currency Items[Member] | ' | ' | ' | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | |
Balance | -306,322 | -175,162 | ' | |
Other comprehensive income (loss) before reclassifications, net of tax | -131,160 | ' | ' | |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 0 | ' | ' | |
Net current-period other comprehensive income (loss) | -131,160 | ' | ' | |
Treasury Rate Lock [Member] | ' | ' | ' | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | |
Balance | -3,029 | -3,827 | ' | |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 798 | ' | ' | |
Net current-period other comprehensive income (loss) | 798 | ' | ' | |
Unrealized Losses on Cash Flow Hedges [Member] | ' | ' | ' | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ' | ' | ' | |
Reclassification of unrealized losses on cash flow hedges to net income, tax | 200 | ' | ' | |
Accumulated Other Comprehensive Income (Loss) [Roll Forward] | ' | ' | ' | |
Balance | -1,869 | -4,358 | ' | |
Other comprehensive income (loss) before reclassifications, net of tax | 867 | ' | ' | |
Amounts reclassified from accumulated other comprehensive loss, net of tax | 1,622 | [1] | ' | ' |
Net current-period other comprehensive income (loss) | $2,489 | ' | ' | |
[1] | Losses on cash flow hedges have been reclassified into interest expense in the accompanying consolidated statements of operations. The tax effect of approximately $0.2 million is included in income tax expense for the year ended December 31, 2013. |
Income_Taxes_Narrative_Details
Income Taxes (Narrative) (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2010 | |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Deferred tax benefit due to REIT conversion | ' | ' | $121,000,000 | ' |
Income tax expense, restructuring domestic TRS | 21,500,000 | ' | ' | ' |
Income tax expense | 59,541,000 | 107,304,000 | 125,080,000 | ' |
Valuation allowance | 136,000,000 | 95,600,000 | ' | ' |
Excess tax benefit from the exercise of employee stock options | 300,000,000 | ' | ' | ' |
Deferred tax liability, income taxes and foreign withholding tax | 278,500,000 | ' | ' | ' |
Operating loss carryforwards related to employee stock options | ' | 6,900,000 | ' | ' |
Tax credit carryforward | 2,400,000 | ' | ' | ' |
Unrecognized tax benefits that would impact the ETR | 31,100,000 | 30,600,000 | ' | ' |
Impact of uncertain tax positions, minimum | 0 | ' | ' | ' |
Impact of uncertain tax positions, maximum | 1,200,000 | ' | ' | ' |
Decrease in unrecognized tax benefits, lapse of applicable statute of limitations | 1,218,000 | 4,926,000 | 467,000 | ' |
Unrecognized tax benefits, income tax penalties and interest | 3,400,000 | -2,900,000 | 9,100,000 | ' |
Unrecognized tax benefits | 32,545,000 | 34,337,000 | 38,886,000 | 79,012,000 |
Unrecognized tax benefits, income tax penalties and interest accrued | 30,900,000 | 28,700,000 | ' | ' |
Other Noncurrent Liabilities [Member] | ' | ' | ' | ' |
Income Tax Contingency [Line Items] | ' | ' | ' | ' |
Unrecognized tax benefits | $32,500,000 | $34,300,000 | ' | ' |
Income_Taxes_Income_Tax_Provis
Income Taxes (Income Tax Provision from Continuing Operations) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
Federal, current | ($30,322) | ($18,170) | ($14,069) |
State, current | -13,731 | -6,321 | -19,346 |
Foreign, current | -44,973 | -53,513 | -34,813 |
Federal, deferred | -16,318 | -13,094 | -81,685 |
State, deferred | -5,139 | -666 | -12,001 |
Foreign, deferred | 50,942 | -15,540 | 36,834 |
Income tax provision | ($59,541) | ($107,304) | ($125,080) |
Income_Taxes_Components_of_Inc
Income Taxes (Components of Income from Continuing Operations Before Income Taxes and Income on Equity Method Investments) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' |
United States | $766,772 | $787,960 | $608,936 |
International | -225,023 | -86,666 | -102,041 |
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME ON EQUITY METHOD INVESTMENTS | $541,749 | $701,294 | $506,895 |
Income_Taxes_Reconciliation_Be
Income Taxes (Reconciliation Between the U.S. Statutory Rate and the Effective Rate from Continuing Operations) (Details) | 12 Months Ended | |||||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' | ' | |||
Statutory tax rate | 35.00% | 35.00% | 35.00% | |||
Tax adjustment related to REIT | -35.00% | [1] | -35.00% | [1] | 0.00% | [1] |
State taxes, net of federal benefit | 3.00% | 1.00% | 6.00% | |||
Foreign taxes | -5.00% | 4.00% | 3.00% | |||
Foreign withholding taxes | 6.00% | 4.00% | 2.00% | |||
Deferred tax adjustment due to REIT conversion | 0.00% | 0.00% | -24.00% | |||
Domestic TRS restructuring | 4.00% | 0.00% | 0.00% | |||
Change in valuation allowance | 0.00% | 8.00% | 0.00% | |||
Other | 3.00% | -2.00% | 3.00% | |||
Effective tax rate | 11.00% | 15.00% | 25.00% | |||
Dividend paid deduction, percentage | 28.00% | 18.00% | ' | |||
[1] | Includes 28% and 18% from dividend paid deductions in 2013 and 2012, respectively. |
Income_Taxes_Components_of_the
Income Taxes (Components of the Net Deferred Tax Asset and Related Valuation Allowance) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 |
In Thousands, unless otherwise specified | ||
Income Tax Expense (Benefit), Continuing Operations [Abstract] | ' | ' |
Allowances, accruals and other items not currently deductible | $28,077 | $31,561 |
Current deferred liabilities | -4,547 | -2,509 |
Subtotal | 23,530 | 29,052 |
Valuation allowance | -3,638 | -3,298 |
Net current deferred tax assets | 19,892 | 25,754 |
Net operating loss carryforwards | 197,335 | 127,914 |
Accrued asset retirement obligations | 85,627 | 70,797 |
Stock-based compensation | 4,331 | 25,258 |
Unearned revenue | 46,788 | 21,912 |
Unrealized loss on foreign currency | 68,951 | 33,010 |
Items not currently deductible and other | 23,877 | 22,914 |
Depreciation and amortization | -114,005 | -42,896 |
Deferred rent | -17,814 | -18,640 |
Other | -4,931 | -4,566 |
Subtotal | 290,159 | 235,703 |
Valuation allowance | -132,368 | -92,260 |
Net non-current deferred tax assets | $157,791 | $143,443 |
Income_Taxes_Net_Operating_Los
Income Taxes (Net Operating Loss Carryforwards Expire) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Federal [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
2014 to 2018 | $0 |
2019 to 2023 | 0 |
2024 to 2028 | 786,863 |
2029 to 2033 | 419,982 |
Indefinite Carryforward | 0 |
Total | 1,206,845 |
State [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
2014 to 2018 | 109,577 |
2019 to 2023 | 277,687 |
2024 to 2028 | 586,500 |
2029 to 2033 | 231,521 |
Indefinite Carryforward | 0 |
Total | 1,205,285 |
Foreign [Member] | ' |
Operating Loss Carryforwards [Line Items] | ' |
2014 to 2018 | 354 |
2019 to 2023 | 84,308 |
2024 to 2028 | 0 |
2029 to 2033 | 0 |
Indefinite Carryforward | 597,284 |
Total | $681,946 |
Income_Taxes_Reconciliation_of
Income Taxes (Reconciliation of the Beginning and Ending Amount of Unrecognized Tax Benefits) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward] | ' | ' | ' |
Balance at January 1 | $34,337 | $38,886 | $79,012 |
Additions based on tax positions related to the current year | 1,427 | 1,037 | 1,801 |
Additions for tax positions of prior years | 0 | 0 | 16,520 |
Reductions for tax positions of prior years | -320 | -221 | -54,430 |
Foreign currency | -1,681 | -439 | -3,550 |
Reduction as a result of the lapse of statute of limitations and effective settlements | -1,218 | -4,926 | -467 |
Balance at December 31 | $32,545 | $34,337 | $38,886 |
StockBased_Compensation_Narrat
Stock-Based Compensation (Narrative) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation expense | $68,138,000 | $51,983,000 | $47,437,000 |
Stock based compensation expenses related to modification of the vesting and exercise terms for a certain employee's equity awards | 1,100,000 | ' | 3,000,000 |
Capitalized stock-based compensation expense | 1,600,000 | 2,200,000 | ' |
Number of shares issuable under stock incentive plan | 16,600,000 | ' | ' |
Expiration period | '10 years | ' | ' |
Accelerated recognition of stock-based compensation expense, retirement eligibility | 7,800,000 | ' | ' |
Employee Stock Option [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period | '4 years | ' | ' |
Weighted average grant date fair value (in dollars per share) | $19.05 | $17.46 | $17.18 |
Intrinsic value of stock options exercised | 42,100,000 | 59,500,000 | 54,600,000 |
Total unrecognized compensation expense | 34,400,000 | ' | ' |
Employee service share-based compensation, cash received from exercise of stock options | 40,600,000 | ' | ' |
Expected recognition of stock award compensation expense weighted average period in years | '2 years 0 months 0 days | ' | ' |
Restricted Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Vesting period | '4 years 0 months 0 days | ' | ' |
Fair value of restricted stock awards vested | 62,700,000 | ' | ' |
Total unrecognized compensation expense | 76,900,000 | ' | ' |
Expected recognition of stock award compensation expense weighted average period in years | '2 years 0 months 0 days | ' | ' |
Employee Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Employee stock purchase plan offering, expense recognition period, months | '6 | ' | ' |
Employee purchase shares not exceeding of gross compensation | 15.00% | ' | ' |
Employee purchase value not exceeding | 25,000 | ' | ' |
Number of shares purchased by employees under the Employee Stock Purchase Plan | 78,000 | 88,000 | 79,000 |
Weighted average prices per share for the ESPP | $64.74 | $51.59 | $44.56 |
Employee stock purchase plan, fair value per share (in dollars per share) | 13.42 | 13.64 | 12.18 |
Employee stock purchase plan, shares remain reserved for future issuance | 3,400,000 | ' | ' |
Employee stock purchase plan employee discount | 15.00% | ' | ' |
Operating Segments [Member] | Other Segments [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Stock-based compensation expense | $68,138,000 | $51,983,000 | $47,437,000 |
StockBased_Compensation_Assump
Stock-Based Compensation (Assumptions Used to Determine the Grant Date Fair Value for Options Granted) (Details) (Employee Stock Option [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Employee Stock Option [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Minimum range of risk-free interest rate | 0.75% | 0.62% | 0.90% |
Maximum range of risk-free interest rate | 1.42% | 1.03% | 2.24% |
Weighted average risk-free interest rate | 0.91% | 0.92% | 1.97% |
Expected life of option grants | '4 years 4 months 28 days | '4 years 4 months 24 days | '4 years 5 months 30 days |
Minimum range of expected volatility of underlying stock price | 24.43% | 36.53% | 36.89% |
Maximum range of expected volatility of underlying stock price | 36.09% | 37.86% | 38.13% |
Weighted average expected volatility of underlying stock price | 33.37% | 37.84% | 36.98% |
Expected annual dividend yield | 1.50% | 1.50% | 0.03% |
StockBased_Compensation_Summar
Stock-Based Compensation (Summary of the Company's Option Activity) (Details) (Employee Stock Option [Member], USD $) | 12 Months Ended |
In Millions, except Share data, unless otherwise specified | Dec. 31, 2013 |
Employee Stock Option [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward] | ' |
Outstanding as of January 1, 2013 | 5,829,945 |
Granted | 1,449,261 |
Exercised | -1,081,437 |
Forfeited | -91,298 |
Expired | -300 |
Outstanding as of December 31, 2013 | 6,106,171 |
Exercisable as of December 31, 2013 | 3,196,741 |
Vested or expected to vest as of December 31, 2013 | 6,104,707 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward] | ' |
Outstanding as of January 31, 2013 | $44.09 |
Granted | $76.89 |
Exercised | $37.52 |
Forfeited | $59.27 |
Expired | $9.94 |
Outstanding as of December 31, 2013 | $52.81 |
Exercisable as of December 31, 2013 | $40.54 |
Vested or expected to vest as of December 31, 2013 | $52.81 |
Weighted average contractual term, outstanding | '6 years 6 months 8 days |
Weighted average contractual term, exercisable | '4 years 9 months 23 days |
Weighted average contractual term, vested or expected to vest | '6 years 6 months 8 days |
Aggregate intrinsic value, outstanding | $164.90 |
Aggregate intrinsic value, exercisable | 125.6 |
Aggregate intrinsic value, vested or expected to vest | $164.90 |
StockBased_Compensation_Schedu
Stock-Based Compensation (Schedule of Options Outstanding) (Details) (USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding Number of Options | 6,106,171 |
Range of Exercise Price Per Share Minimum Range | $10.68 |
Range of Exercise Price Per Share Maximum Range | $79.05 |
Weighted Average Exercise Price Per Share | $52.81 |
Weighted Average Remaining Life (Years) | '6 years 6 months 6 days |
Options Exercisable | 3,196,741 |
Weighted Average Exercise Price Per Share | $40.54 |
Range One [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding Number of Options | 808,812 |
Range of Exercise Price Per Share Minimum Range | $10.68 |
Range of Exercise Price Per Share Maximum Range | $35.72 |
Weighted Average Exercise Price Per Share | $27.94 |
Weighted Average Remaining Life (Years) | '3 years 11 months 18 days |
Options Exercisable | 808,812 |
Weighted Average Exercise Price Per Share | $27.94 |
Range Two [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding Number of Options | 1,913,223 |
Range of Exercise Price Per Share Minimum Range | $37.52 |
Range of Exercise Price Per Share Maximum Range | $47.25 |
Weighted Average Exercise Price Per Share | $40.64 |
Weighted Average Remaining Life (Years) | '4 years 3 months 30 days |
Options Exercisable | 1,729,532 |
Weighted Average Exercise Price Per Share | $40.38 |
Range Three [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding Number of Options | 854,664 |
Range of Exercise Price Per Share Minimum Range | $50.78 |
Range of Exercise Price Per Share Maximum Range | $58.60 |
Weighted Average Exercise Price Per Share | $51.23 |
Weighted Average Remaining Life (Years) | '7 years 2 months 12 days |
Options Exercisable | 376,970 |
Weighted Average Exercise Price Per Share | $51.14 |
Range Four [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding Number of Options | 1,131,753 |
Range of Exercise Price Per Share Minimum Range | $62 |
Range of Exercise Price Per Share Maximum Range | $74.06 |
Weighted Average Exercise Price Per Share | $62.54 |
Weighted Average Remaining Life (Years) | '8 years 2 months 12 days |
Options Exercisable | 255,515 |
Weighted Average Exercise Price Per Share | $62.23 |
Range Five [Member] | ' |
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | ' |
Outstanding Number of Options | 1,397,719 |
Range of Exercise Price Per Share Minimum Range | $76.90 |
Range of Exercise Price Per Share Maximum Range | $79.05 |
Weighted Average Exercise Price Per Share | $76.95 |
Weighted Average Remaining Life (Years) | '9 years 2 months 12 days |
Options Exercisable | 25,912 |
Weighted Average Exercise Price Per Share | $76.90 |
StockBased_Compensation_Summar1
Stock-Based Compensation (Summary of the Company's Restricted Stock Unit Activity) (Details) (Restricted Stock Units (RSUs) [Member], USD $) | 12 Months Ended |
Dec. 31, 2013 | |
Restricted Stock Units (RSUs) [Member] | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' |
Outstanding as of January 1, 2013 | 1,968,553 |
Granted | 828,218 |
Vested | -817,966 |
Forfeited | -138,668 |
Outstanding as of December 31, 2013 | 1,840,137 |
Expected to vest, net of estimated forfeitures, as of December 31, 2013 | 1,769,009 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Weighted Average Grant Date Fair Value [Roll Forward] | ' |
Weighted Average Grant Date Fair Value Outstanding as of January 1, 2012 | $51.56 |
Weighted Average Grant Date Fair Value Granted | $76.88 |
Weighted Average Grant Date Fair Value Vested | $45.92 |
Forfeitures | $61 |
Weighted Average Grant Date Fair Value Outstanding as of December 31, 2012 | $64.75 |
Expected to vest, net of estimated forfeitures, as of December 31, 2012 | $64.54 |
StockBased_Compensation_Schedu1
Stock-Based Compensation (Schedule of Employee Stock Purchase Plan Valuation Assumptions) (Details) (Employee Stock [Member]) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Employee Stock [Member] | ' | ' | ' |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ' | ' | ' |
Minimum range of risk-free interest rate | 0.07% | 0.05% | 0.11% |
Maximum range of risk-free interest rate | 0.13% | 0.12% | 0.20% |
Weighted average risk-free interest rate | 0.10% | 0.08% | 0.16% |
Expected life of option grants | '0 years 6 months 0 days | '0 years 6 months 0 days | '0 years 6 months 0 days |
Minimum range of expected volatility of underlying stock price | 12.21% | 33.16% | 33.96% |
Maximum range of expected volatility of underlying stock price | 13.57% | 33.86% | 34.55% |
Weighted average expected volatility of underlying stock price | 12.88% | 33.54% | 34.28% |
Expected annual dividends | 1.50% | 1.50% | ' |
Equity_Narrative_Details
Equity (Narrative) (Details) (USD $) | 12 Months Ended | 34 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | |
Dividends Paid [Line Items] | ' | ' | ' | ' |
Authorized repurchase of common stock | $1,500,000,000 | ' | ' | ' |
Treasury stock shares acquired | 1,938,021 | ' | ' | 6,300,000 |
Treasury stock value acquired cost method | 145,012,000 | 62,728,000 | 423,932,000 | 389,000,000 |
Remaining stock value of buyback | 1,100,000,000 | ' | ' | ' |
Distributions Payable Upon Vesting RSU | 1,900,000 | ' | ' | 1,900,000 |
Distributions | -434,687,000 | -355,574,000 | -137,765,000 | ' |
Proceeds from Stock Options Exercised | 45,500,000 | ' | ' | ' |
Dividends Declared and Paid [Member] | ' | ' | ' | ' |
Dividends Paid [Line Items] | ' | ' | ' | ' |
Distributions | -434,500,000 | -355,600,000 | ' | ' |
Accrued Dividends Paid [Member] | ' | ' | ' | ' |
Dividends Paid [Line Items] | ' | ' | ' | ' |
Distributions | ' | ($200,000) | ' | ' |
Equity_Distributions_Detail
Equity (Distributions) (Detail) (USD $) | 12 Months Ended | 3 Months Ended | |||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Mar. 31, 2013 | Jun. 30, 2013 | Sep. 30, 2013 | Dec. 31, 2013 |
First Quarter [Member] | Second Quarter [Member] | Third Quarter [Member] | Fourth Quarter [Member] | ||||
Dividends Payable [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Declaration Date | ' | ' | ' | 12-Mar-13 | 22-May-13 | 12-Sep-13 | 4-Dec-13 |
Payment Date | ' | ' | ' | 25-Apr-13 | 16-Jul-13 | 7-Oct-13 | 31-Dec-13 |
Record Date | ' | ' | ' | 10-Apr-13 | 17-Jun-13 | 23-Sep-13 | 16-Dec-13 |
Distribution per share | ' | ' | ' | $0.26 | $0.27 | $0.28 | $0.29 |
Aggregate Payment Amount (in millions) | $434,687 | $355,574 | $137,765 | $102,800 | $106,700 | $110,500 | $114,500 |
Impairments_Net_Loss_on_Sale_o1
Impairments, Net Loss on Sale of Long-Lived Assets (Narrative) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Property, Plant and Equipment Impairment or Disposal [Abstract] | ' | ' | ' |
Impairment charges and net losses on sales or disposals of long-lived assets | $32.50 | $34.40 | $17.40 |
Impairment charges | 15.9 | 21.5 | 9 |
Losses associated with the sale or disposal of certain non-core towers, other assets and other miscellaneous items | 16.6 | 12.9 | 8.4 |
Impairment charge, termination of tenant lease | ' | $10.80 | ' |
Earnings_Per_Common_Share_Narr
Earnings Per Common Share (Narrative) (Details) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Shares issuable upon conversion of the stock-based awards and convertible notes | 1.2 | 1 | 0.9 |
Earnings_Per_Common_Share_Sche
Earnings Per Common Share (Schedule of Earnings Per Basic And Diluted by Common Class) (Details) (USD $) | 12 Months Ended | ||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Earnings Per Share [Abstract] | ' | ' | ' |
Income from continuing operations attributable to American Tower Corporation | $551,333 | $637,283 | $396,462 |
Basic weighted average common shares outstanding | 395,040 | 394,772 | 395,711 |
Dilutive securities | 4,106 | 4,515 | 4,484 |
Diluted weighted average common shares outstanding | 399,146 | 399,287 | 400,195 |
Basic income from continuing operations attributable to American Tower Corporation per common share (in dollars per share) | $1.40 | $1.61 | $1 |
Diluted income from continuing operations attributable to American Tower Corporation per common share (in dollars per share) | $1.38 | $1.60 | $0.99 |
Recovered_Sheet2
Commitments And Contingencies (Narrative) (Details) | 0 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | |||||||
Jan. 24, 2014 | Jan. 24, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2013 | Dec. 31, 2000 | Dec. 31, 2013 | |
USD ($) | INR | USD ($) | USD ($) | USD ($) | Television And Radio Broadcast [Member] | Wireless Communications [Member] | International [Member] | At T Transaction [Member] | ALLTEL Transaction [Member] | ALLTEL Transaction [Member] | |
sites | USD ($) | USD ($) | |||||||||
term | sites | ||||||||||
sites | |||||||||||
Loss Contingencies [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Aggregate rent expense | ' | ' | $495,200,000 | $419,000,000 | $366,100,000 | ' | ' | ' | ' | ' | ' |
Tenant lease, initial term maximum, years | ' | ' | ' | ' | ' | '20 years | '10 years | ' | ' | ' | ' |
Tenant lease, initial term minimum, years | ' | ' | ' | ' | ' | '10 years | '5 years | ' | ' | ' | ' |
Tenant leases, initial term of contract | ' | ' | ' | ' | ' | ' | ' | '10 years | ' | ' | ' |
Leased assets, number of units | ' | ' | ' | ' | ' | ' | ' | ' | 2,450 | ' | 1,800 |
Average lease term (in years) | ' | ' | ' | ' | ' | ' | ' | ' | '27 | '15 | ' |
Aggregate purchase option price for towers | ' | ' | ' | ' | ' | ' | ' | ' | 597,900,000 | ' | 71,200,000 |
Purchase price accretion rate (per year) | ' | ' | ' | ' | ' | ' | ' | ' | 10.00% | ' | 3.00% |
Successive terms to renew lease | ' | ' | ' | ' | ' | ' | ' | ' | 4 | ' | ' |
Renewal term | ' | ' | ' | ' | ' | ' | ' | ' | '5 years | ' | ' |
Purchase price of tower in shares of common stock | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 769 |
Value of potential shares payable | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 109,000,000 |
Cash purchase price per tower | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | 27,500 |
India tax assessment | $369,000,000 | 22,600,000,000 | ' | ' | ' | ' | ' | ' | ' | ' | ' |
Purchased subleased towers, number of units | ' | ' | 4 | ' | ' | ' | ' | ' | ' | ' | ' |
Commitments_and_Contingencies_1
Commitments and Contingencies (Future Minimum Rental Payments Under Non-Cancelable Operating Leases) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $512,429 |
2015 | 504,485 |
2016 | 492,058 |
2017 | 478,383 |
2018 | 466,138 |
Thereafter | 4,433,263 |
Total | $6,886,756 |
Commitments_and_Contingencies_2
Commitments and Contingencies (Future Minimum Payments Under Capital Leases) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $11,114 |
2015 | 9,063 |
2016 | 8,601 |
2017 | 8,390 |
2018 | 7,371 |
Thereafter | 168,695 |
Total minimum lease payments | 213,234 |
Less amounts representing interest | -139,856 |
Present value of capital lease obligations | $73,378 |
Commitments_and_Contingencies_3
Commitments and Contingencies (Future Minimum Rental Receipts Under Operating Lease Agreements) (Details) (USD $) | Dec. 31, 2013 |
In Thousands, unless otherwise specified | |
Commitments and Contingencies Disclosure [Abstract] | ' |
2014 | $3,109,078 |
2015 | 3,043,013 |
2016 | 2,966,499 |
2017 | 2,887,319 |
2018 | 2,735,520 |
Thereafter | 7,901,662 |
Total | $22,643,091 |
Supplemental_Cash_Flow_Informa2
Supplemental Cash Flow Information (Supplemental Cash Flow Information and Non-Cash Investing and Financing Activities) (Details) (USD $) | 12 Months Ended | ||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
Supplemental Cash Flow Information [Abstract] | ' | ' | ' |
Cash paid for interest | $397,366 | $366,458 | $274,234 |
Cash paid for income taxes (net of refunds of $19,701, $20,847 and $9,277, respectively) | 51,676 | 69,277 | 53,909 |
Increase (decrease) in accounts payable for purchases of property and equipment and construction | 9,147 | -10,244 | 8,507 |
Purchases of property and equipment under capital leases | 27,416 | 19,219 | 6,800 |
Fair value of debt assumed through acquisitions | 1,576,186 | 0 | 209,321 |
Refunds, cash taxes paid | $19,701 | $20,847 | $9,277 |
Business_Segments_Narrative_De
Business Segments (Narrative) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
segment | |||
Segment Reporting, Measurement Disclosures [Abstract] | ' | ' | ' |
Number of Operating Segments | 3 | ' | ' |
Percentage of revenues | 10.00% | 10.00% | 10.00% |
Business_Segments_Summarized_F
Business Segments (Summarized Financial Information Concerning the Company's Reportable Segments) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | $941,969 | $807,880 | $808,830 | $802,728 | $768,374 | $713,335 | $697,734 | $696,517 | $3,361,407 | $2,875,960 | $2,443,532 | |||
Segment operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 858,329 | [1] | 720,718 | [2] | 618,627 | [3] |
Interest income, TV Azteca, net | ' | ' | ' | ' | ' | ' | ' | ' | 22,235 | 14,258 | 14,214 | |||
Segment gross margin | ' | ' | ' | ' | ' | ' | ' | ' | 2,525,313 | 2,169,500 | 1,839,119 | |||
Segment selling, general, administrative and development expense | ' | ' | ' | ' | ' | ' | ' | ' | 236,584 | [1] | 187,986 | [2] | 167,011 | [3] |
Segment operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 2,288,729 | 1,981,514 | 1,672,108 | |||
Stock-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 68,138 | 51,983 | 47,437 | |||
Other selling, general, administrative and development expense | ' | ' | ' | ' | ' | ' | ' | ' | 112,367 | 89,093 | 76,705 | |||
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 800,145 | 644,276 | 555,517 | |||
Other expense (principally interest expense and other expense) | ' | ' | ' | ' | ' | ' | ' | ' | 766,330 | 494,868 | 485,554 | |||
INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES AND INCOME ON EQUITY METHOD INVESTMENTS | ' | ' | ' | ' | ' | ' | ' | ' | 541,749 | 701,294 | 506,895 | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 724,532 | 568,048 | 523,015 | |||
Domestic [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,263,682 | 2,013,159 | 1,801,607 | |||
Total international | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,097,725 | 862,801 | 641,925 | |||
Operating Expense [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Stock-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 1,500 | 1,800 | 2,300 | |||
Operating Segments [Member] | Rental And Management [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 3,287,090 | 2,803,490 | 2,386,185 | |||
Segment operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 827,765 | [1] | 685,888 | [2] | 589,167 | [3] |
Interest income, TV Azteca, net | ' | ' | ' | ' | ' | ' | ' | ' | 22,235 | 14,258 | 14,214 | |||
Segment gross margin | ' | ' | ' | ' | ' | ' | ' | ' | 2,481,560 | 2,131,860 | 1,811,232 | |||
Segment selling, general, administrative and development expense | ' | ' | ' | ' | ' | ' | ' | ' | 227,327 | [1] | 181,242 | [2] | 159,147 | [3] |
Segment operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 2,254,233 | 1,950,618 | 1,652,085 | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 694,149 | 548,001 | 504,090 | |||
Operating Segments [Member] | Rental And Management [Member] | Domestic [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,189,365 | 1,940,689 | 1,744,260 | |||
Segment operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 405,419 | [1] | 357,555 | [2] | 353,458 | [3] |
Interest income, TV Azteca, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Segment gross margin | ' | ' | ' | ' | ' | ' | ' | ' | 1,783,946 | 1,583,134 | 1,390,802 | |||
Segment selling, general, administrative and development expense | ' | ' | ' | ' | ' | ' | ' | ' | 103,989 | [1] | 85,663 | [2] | 77,041 | [3] |
Segment operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 1,679,957 | 1,497,471 | 1,313,761 | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 416,239 | 268,997 | 325,264 | |||
Operating Segments [Member] | Rental And Management [Member] | Total international | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 1,097,725 | 862,801 | 641,925 | |||
Segment operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 422,346 | [1] | 328,333 | [2] | 235,709 | [3] |
Interest income, TV Azteca, net | ' | ' | ' | ' | ' | ' | ' | ' | 22,235 | 14,258 | 14,214 | |||
Segment gross margin | ' | ' | ' | ' | ' | ' | ' | ' | 697,614 | 548,726 | 420,430 | |||
Segment selling, general, administrative and development expense | ' | ' | ' | ' | ' | ' | ' | ' | 123,338 | [1] | 95,579 | [2] | 82,106 | [3] |
Segment operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 574,276 | 453,147 | 338,324 | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 277,910 | 279,004 | 178,826 | |||
Operating Segments [Member] | Network Development Services [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 74,317 | 72,470 | 57,347 | |||
Segment operating expenses | ' | ' | ' | ' | ' | ' | ' | ' | 30,564 | [1] | 34,830 | [2] | 29,460 | [3] |
Interest income, TV Azteca, net | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Segment gross margin | ' | ' | ' | ' | ' | ' | ' | ' | 43,753 | 37,640 | 27,887 | |||
Segment selling, general, administrative and development expense | ' | ' | ' | ' | ' | ' | ' | ' | 9,257 | [1] | 6,744 | [2] | 7,864 | [3] |
Segment operating profit | ' | ' | ' | ' | ' | ' | ' | ' | 34,496 | 30,896 | 20,023 | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 0 | 0 | 0 | |||
Operating Segments [Member] | Other Segments [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Stock-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | 68,138 | 51,983 | 47,437 | |||
Other selling, general, administrative and development expense | ' | ' | ' | ' | ' | ' | ' | ' | 112,367 | 89,093 | 76,705 | |||
Depreciation, amortization and accretion | ' | ' | ' | ' | ' | ' | ' | ' | 800,145 | 644,276 | 555,517 | |||
Other expense (principally interest expense and other expense) | ' | ' | ' | ' | ' | ' | ' | ' | 766,330 | 494,868 | 485,554 | |||
Capital expenditures | ' | ' | ' | ' | ' | ' | ' | ' | 30,383 | 20,047 | 18,925 | |||
Selling General Administrative And Development Expense [Member] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting Information [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Stock-based compensation expense | ' | ' | ' | ' | ' | ' | ' | ' | $66,594 | $50,222 | $45,108 | |||
[1] | Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of $1.5 million and $66.6 million, respectively. | |||||||||||||
[2] | Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of $1.8 million and $50.2 million, respectively. | |||||||||||||
[3] | Segment operating expenses and segment selling, general, administrative and development expenses exclude stock-based compensation expense of $2.3 million and $45.1 million, respectively. |
Business_Segments_Additional_I
Business Segments (Additional Information Relating to the Company's Operating Segments) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
In Thousands, unless otherwise specified | ||||||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' | |||
Assets | $20,272,571 | $14,089,429 | [1] | $12,242,395 | ||
Operating Segments [Member] | Rental And Management [Member] | Domestic [Member] | ' | ' | ' | |||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' | |||
Assets | 13,480,641 | 8,471,169 | [1] | 7,789,578 | ||
Operating Segments [Member] | Rental And Management [Member] | Total international | ' | ' | ' | |||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' | |||
Assets | 6,564,840 | [2] | 5,190,987 | [1],[2] | 3,942,258 | [2] |
Operating Segments [Member] | Network Development Services [Member] | ' | ' | ' | |||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' | |||
Assets | 47,607 | 63,956 | [1] | 33,941 | ||
Operating Segments [Member] | Other Segments [Member] | ' | ' | ' | |||
Segment Reporting, Asset Reconciling Item [Line Items] | ' | ' | ' | |||
Assets | $179,483 | [3] | $363,317 | [1],[3] | $476,618 | [3] |
[1] | Balances have been revised to reflect purchase accounting measurement period adjustments. | |||||
[2] | Balances are translated at the applicable period end exchange rate and therefore may impact comparability between periods. | |||||
[3] | Balances include corporate assets such as cash and cash equivalents, certain tangible and intangible assets and income tax accounts which have not been allocated to specific segments. |
Business_Segments_Summarized_G
Business Segments (Summarized Geographic Information Related to the Company's Operating Revenues) (Details) (USD $) | 3 Months Ended | 12 Months Ended | ||||||||||||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | $941,969 | $807,880 | $808,830 | $802,728 | $768,374 | $713,335 | $697,734 | $696,517 | $3,361,407 | $2,875,960 | $2,443,532 | |||
United States | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 2,263,682 | 2,013,159 | 1,801,607 | |||
Brazil | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 212,201 | [1] | 198,068 | [1] | 177,526 | [1] |
Chile | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 28,978 | [1] | 22,114 | [1] | 7,380 | [1] |
Colombia | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 70,901 | [1] | 48,424 | [1] | 13,690 | [1] |
Costa Rica | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 4,055 | [1] | 0 | [1] | 0 | [1] |
Germany | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 62,756 | [1] | 4,030 | [1] | 0 | [1] |
Ghana | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 92,114 | [1] | 81,818 | [1] | 41,464 | [1] |
India | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 191,355 | [1] | 181,863 | [1] | 170,680 | [1] |
Mexico | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 288,306 | [1] | 217,473 | [1] | 183,175 | [1] |
Panama | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 424 | [1] | 0 | [1] | 0 | [1] |
Peru | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 5,824 | [1] | 5,310 | [1] | 4,546 | [1] |
South Africa | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 91,906 | [1] | 80,202 | [1] | 43,464 | [1] |
Uganda | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | 48,905 | [1] | 23,499 | [1] | 0 | [1] |
Total international | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | |||
Segment revenues | ' | ' | ' | ' | ' | ' | ' | ' | $1,097,725 | $862,801 | $641,925 | |||
[1] | Balances are translated at the applicable exchange rate and therefore may impact comparability between periods. |
Business_Segments_Summarized_G1
Business Segments (Summarized Geographic Information Related to the Company's Long-lived Assets) (Details) (USD $) | Dec. 31, 2013 | Dec. 31, 2012 | ||
In Thousands, unless otherwise specified | ||||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | $17,693,535 | [1] | $11,814,584 | [1],[2] |
United States | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 12,278,780 | [1] | 7,554,720 | [1],[2] |
Brazil | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 1,290,767 | [1],[3] | 911,371 | [1],[2],[3] |
Chile | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 167,318 | [1],[3] | 196,387 | [1],[2],[3] |
Colombia | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 390,197 | [1],[3] | 380,326 | [1],[2],[3] |
Costa Rica | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 271,988 | [1],[3] | 0 | [1],[2],[3] |
Germany | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 535,883 | [1],[3] | 540,108 | [1],[2],[3] |
Ghana | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 304,603 | [1],[3] | 377,553 | [1],[2],[3] |
India | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 610,744 | [1],[3] | 676,049 | [1],[2],[3] |
Mexico | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 1,355,542 | [1],[3] | 710,888 | [1],[2],[3] |
Panama | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 21,049 | [1],[3] | 0 | [1],[2],[3] |
Peru | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 58,220 | [1],[3] | 65,756 | [1],[2],[3] |
South Africa | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 213,316 | [1],[3] | 231,573 | [1],[2],[3] |
Uganda | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | 195,128 | [1],[3] | 169,853 | [1],[2],[3] |
Total international | ' | ' | ||
Segment Reporting, Other Significant Reconciling Item [Line Items] | ' | ' | ||
Long-Lived Assets | $5,414,755 | [1],[3] | $4,259,864 | [1],[2],[3] |
[1] | Includes Property and equipment, net, Goodwill and Other intangible assets, net. | |||
[2] | Balances have been revised to reflect purchase accounting measurement period adjustments. | |||
[3] | Balances are translated at the applicable period end exchange rate and therefore may impact comparability between periods. |
Business_Segments_Major_Custom
Business Segments (Major Customers) (Details) | 12 Months Ended | ||
Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Percentage of revenues | 10.00% | 10.00% | 10.00% |
AT&T Mobility [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Percentage of revenues | 18.00% | 18.00% | 20.00% |
Sprint Nextel [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Percentage of revenues | 16.00% | 14.00% | 14.00% |
Verizon Wireless [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Percentage of revenues | 11.00% | 11.00% | 12.00% |
T-Mobile [Member] | ' | ' | ' |
Revenue, Major Customer [Line Items] | ' | ' | ' |
Percentage of revenues | 11.00% | 8.00% | 7.00% |
Selected_Quarterly_Financial_D2
Selected Quarterly Financial Data (Schedule Of Quarterly Financial Information) (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||||||||||||
In Thousands, except Per Share data, unless otherwise specified | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2012 | Sep. 30, 2012 | Jun. 30, 2012 | Mar. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | ||||||||||
Selected Quarterly Financial Information [Abstract] | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ' | ||||||||||
Operating revenues | $941,969 | $807,880 | $808,830 | $802,728 | $768,374 | $713,335 | $697,734 | $696,517 | $3,361,407 | $2,875,960 | $2,443,532 | ||||||||||
Cost of operations | 251,569 | [1] | 200,829 | [1] | 205,709 | [1] | 201,766 | [1] | 194,206 | [1] | 184,904 | [1] | 172,384 | [1] | 170,985 | [1] | 859,873 | [1] | 722,479 | [1] | ' |
Operating income | 292,928 | 308,879 | 312,812 | 299,686 | 279,235 | 295,552 | 270,486 | 274,446 | 1,214,305 | 1,119,719 | 920,132 | ||||||||||
Net income | 73,925 | 163,222 | 84,113 | 160,948 | 118,153 | 231,825 | 33,689 | 210,358 | 482,208 | 594,025 | 381,840 | ||||||||||
Net income attributable to American Tower Corporation | $99,982 | $180,123 | $99,821 | $171,407 | $135,679 | $232,089 | $48,209 | $221,306 | $551,333 | $637,283 | $396,462 | ||||||||||
Basic net income per common share (in dollars per share) | $0.25 | $0.46 | $0.25 | $0.43 | $0.34 | $0.59 | $0.12 | $0.56 | $1.40 | $1.61 | $1 | ||||||||||
Diluted net income per common share (in dollars per share) | $0.25 | $0.45 | $0.25 | $0.43 | $0.34 | $0.58 | $0.12 | $0.56 | $1.38 | $1.60 | $0.99 | ||||||||||
[1] | Represents Operating expenses, exclusive of Depreciation, amortization and accretion, Selling, general, administrative and development expense, and Other operating expense. |
Subsequent_Events_Details
Subsequent Events (Details) (Subsequent Event [Member], USD $) | 0 Months Ended | 0 Months Ended | 3 Months Ended | ||||
Jan. 10, 2014 | Jan. 10, 2014 | Jan. 10, 2014 | Jan. 10, 2014 | Jan. 10, 2014 | Jan. 10, 2014 | Mar. 31, 2014 | |
3.40% Senior Notes [Member] | 3.40% Senior Notes [Member] | 5.00% Senior Notes [Member] | 5.00% Senior Notes [Member] | Credit Facility 2012 [Member] | Revolving Credit Facility [Member] | ||
Reopened [Member] | Reopened [Member] | Credit Facility 2013 [Member] | |||||
Subsequent Event [Line Items] | ' | ' | ' | ' | ' | ' | ' |
Long-term debt, stated interest rate | ' | ' | 3.40% | ' | 5.00% | ' | ' |
Repayment of indebtedness under credit facility | ' | ' | ' | ' | ' | $88,000,000 | $710,000,000 |
Proceeds from Issuance of Debt | 763,800,000 | ' | ' | ' | ' | ' | ' |
Long-term debt, face amount | ' | $1,000,000,000 | $250,000,000 | $1,000,000,000 | $500,000,000 | ' | ' |
Recovered_Sheet3
Schedule III - Real Estate And Accumulated Depreciation (Schedule Of Real Estate And Accumulated Depreciation) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 | |
site | ||||
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract] | ' | ' | ' | |
SEC Schedule III, Real Estate, Number of Units | 67,069 | [1] | ' | ' |
Amount of Encumbrances | $3,676,882 | [2] | ' | ' |
Initial cost to the Company | 0 | [3] | ' | ' |
Costs Capitalized Subsequent to Acquisition | 0 | [3] | ' | ' |
Real Estate And Accumulated Depreciation Carrying Amount | 10,003,617 | [4] | ' | ' |
Accumulated Depreciation | ($3,297,033) | ($2,968,230) | ($2,646,927) | |
Date of construction | 'Various | ' | ' | |
Date Acquired | 'Various | ' | ' | |
Percentage Of Gross Amounts Maximum | 5.00% | ' | ' | |
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation | '20 years | ' | ' | |
[1] | No single site exceeds 5% of the aggregate gross amounts at which the assets were carried at the close of the period set forth in the table above. | |||
[2] | Certain assets secure debt of approximately $3.7 billion. | |||
[3] | The Company has omitted this information, as it would be impracticable to compile such information on a site-by-site basis. | |||
[4] | Does not include those sites under construction. |
Schedule_III_Real_Estate_And_A1
Schedule III - Real Estate And Accumulated Depreciation (Activity Of Real Estate And Accumulated Depreciation) (Details) (USD $) | 12 Months Ended | |||
In Thousands, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | ||
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward] | ' | ' | ||
Gross amount at beginning | $8,316,547 | $7,192,641 | ||
Adjusted real estate gross at carrying value | ' | 8,290,313 | [1] | |
Acquisitions through foreclosures | 0 | [1] | 0 | |
Other acquisitions | 1,415,171 | [1],[2] | 739,144 | [2] |
Discretionary capital projects | 314,126 | [1],[3] | 217,935 | [3] |
Discretionary ground lease purchases | 102,991 | [1],[4] | 93,990 | [4] |
Redevelopment capital expenditures | 89,960 | [1],[5] | 67,309 | [5] |
Capital improvements | 58,960 | [1],[6] | 70,453 | [6] |
Start-up capital expenditures | 15,757 | [1],[7] | 0 | [7] |
Other additions | 8,764 | [1],[8] | 30,813 | [8] |
Total additions | 2,005,729 | [1] | 1,219,644 | |
Cost of real estate sold or disposed | -48,467 | [1] | -15,288 | |
Other deductions | -243,958 | [1],[9] | -80,450 | [9] |
Total deductions | -292,425 | [1] | -95,738 | |
Balance at end | 10,003,617 | [1] | 8,316,547 | |
SEC Schedule III, Reconciliation of Real Estate Accumulated Depreciation [Roll Forward] | ' | ' | ||
Gross amount of accumulated depreciation at beginning | -2,968,230 | -2,646,927 | ||
Depreciation | -408,693 | -344,778 | ||
Other additions | -264 | -253 | ||
Total additions | -408,957 | -345,031 | ||
Amount of accumulated depreciation for assets sold or disposed | 17,462 | 10,920 | ||
Other deductions | 62,692 | [9] | 12,808 | [9] |
Total deductions | 80,154 | 23,728 | ||
Balance at end | ($3,297,033) | ($2,968,230) | ||
[1] | Balance has been revised to reflect purchase accounting measurement period adjustments. | |||
[2] | Includes acquisitions of sites. | |||
[3] | Includes amounts incurred primarily for the construction of new sites. | |||
[4] | Includes amounts incurred to purchase or otherwise secure the land under communications sites. | |||
[5] | Includes amounts incurred to increase the capacity of existing sites, which results in new incremental tenant revenue. | |||
[6] | Includes amounts incurred to maintain existing sites. | |||
[7] | Includes amounts incurred for acquisitions and new market launches and costs that are contemplated in the business cases for these investments. | |||
[8] | Primarily includes regional improvements and other additions. | |||
[9] | Primarily includes foreign currency exchange rate fluctuations. |