Document and Entity Information
Document and Entity Information - USD ($) $ in Billions | 12 Months Ended | ||
Dec. 31, 2017 | Feb. 26, 2018 | Jun. 30, 2017 | |
Entity Information [Line Items] | |||
Entity Registrant Name | CC Holdings GS V LLC | ||
Entity Central Index Key | 1,574,291 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2017 | ||
Document Fiscal Year Focus | 2,017 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Entity Common Stock, Shares Outstanding | 0 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | Yes | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $ 0 |
Consolidated Balance Sheet
Consolidated Balance Sheet - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
ASSETS | ||
Cash and cash equivalents | $ 30,771 | $ 19,550 |
Receivables, net of allowance of $1,300 and $1,810, respectively | 2,581 | 3,527 |
Prepaid expenses | 24,300 | 24,051 |
Deferred site rental receivables, current | 24,638 | 19,833 |
Other current assets | 467 | 480 |
Total current assets | 82,757 | 67,441 |
Deferred site rental receivables | 333,164 | 346,507 |
Property and equipment, net | 1,041,157 | 1,088,883 |
Goodwill | 1,338,730 | 1,338,730 |
Site rental contracts and customer relationships, net | 902,667 | 1,016,200 |
Other intangible assets, net | 19,859 | 21,807 |
Long-term prepaid rent and other assets, net | 38,154 | 35,490 |
Total Assets | 3,756,488 | 3,915,058 |
LIABILITIES AND EQUITY | ||
Accounts payable | 1,801 | 3,387 |
Accrued interest | 8,126 | 8,126 |
Deferred revenues | 11,586 | 11,930 |
Other accrued liabilities | 8,828 | 9,856 |
Total current liabilities | 30,341 | 33,299 |
Debt | 992,663 | 991,279 |
Deferred ground lease payable | 107,673 | 102,519 |
Above-market leases and other liabilities | 49,340 | 48,716 |
Total liabilities | 1,180,017 | 1,175,813 |
Commitments and contingencies (note 9) | ||
Member's equity: | ||
Member's equity | 2,576,471 | 2,739,245 |
Accumulated earnings (deficit) | 0 | 0 |
Total member's equity | 2,576,471 | 2,739,245 |
Total liabilities and equity | $ 3,756,488 | $ 3,915,058 |
Consolidated Balance Sheet (Par
Consolidated Balance Sheet (Parenthetical) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Allowance for doubtful accounts receivable, current | $ 1,300 | $ 1,810 |
Consolidated Statement of Opera
Consolidated Statement of Operations and Comprehensive Income (Loss) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Net revenues: | ||||
Site rental revenues | $ 616,897 | $ 611,639 | $ 607,276 | |
Operating expenses: | ||||
Site rental cost of operations—third parties(a) | [1] | 149,764 | 151,812 | 150,225 |
Site rental cost of operations—related parties(a) | [1] | 36,655 | 33,901 | 31,859 |
Site rental cost of operations—total(a) | [1] | 186,419 | 185,713 | 182,084 |
Management fee—related party | 46,946 | 45,433 | 43,709 | |
Asset write-down charges | 181 | 4,851 | 6,021 | |
Depreciation, amortization, and accretion | 210,607 | 209,361 | 207,825 | |
Total operating expenses | 444,153 | 445,358 | 439,639 | |
Operating income (loss) | 172,744 | 166,281 | 167,637 | |
Interest expense and amortization of deferred financing costs | (39,874) | (49,515) | (53,223) | |
Gains (losses) on retirement of debt | 0 | (10,273) | 0 | |
Other income (expense) | 287 | (242) | (244) | |
Income (loss) before income taxes | 133,157 | 106,251 | 114,170 | |
Benefit (provision) for income taxes | 614 | 668 | 733 | |
Net income (loss) | $ 133,771 | $ 106,919 | $ 114,903 | |
[1] | Exclusive of depreciation, amortization and accretion shown separately and certain indirect costs included in the management fee. |
Consolidated Statement of Cash
Consolidated Statement of Cash Flows - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Cash flows from operating activities: | |||
Net income (loss) | $ 133,771 | $ 106,919 | $ 114,903 |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Depreciation, amortization and accretion | 210,607 | 209,361 | 207,825 |
Amortization of deferred financing costs | 1,384 | 2,427 | 2,828 |
Asset write-down charges | 181 | 4,851 | 6,021 |
(Gains) losses on retirement of debt | 0 | 10,273 | 0 |
Changes in assets and liabilities: | |||
Increase (decrease) in accrued interest | 0 | (529) | 0 |
Increase (decrease) in accounts payable | (1,110) | 257 | 113 |
Increase (decrease) in deferred revenues, deferred ground lease payable, and other liabilities | 1,964 | 3,678 | 1,734 |
Decrease (increase) in receivables | 946 | 458 | 1,050 |
Decrease (increase) in other current assets, deferred site rental receivable, long-term prepaid rent, restricted cash, and other assets | 9,574 | (4,643) | (23,488) |
Net cash provided by (used for) operating activities | 357,317 | 333,052 | 310,986 |
Cash flows from investing activities: | |||
Capital expenditures | (49,551) | (53,409) | (85,216) |
Net cash provided by (used for) investing activities | (49,551) | (53,409) | (85,216) |
Cash flows from financing activities: | |||
Purchases and redemptions of debt | 0 | (508,472) | 0 |
Contribution (Distribution) from/to Member | (296,545) | (280,494) | (231,600) |
Net cash provided by (used for) financing activities | (296,545) | (280,494) | (231,600) |
Net increase (decrease) in cash and cash equivalents | 11,221 | (851) | (5,830) |
Cash and cash equivalents at beginning of year | 19,550 | 20,401 | 26,231 |
Cash and cash equivalents at end of year | 30,771 | 19,550 | $ 20,401 |
Equity contribution related to debt repayment [Member] | |||
Cash flows from financing activities: | |||
Contribution (Distribution) from/to Member | $ 0 | $ 508,472 |
Consolidated Statement of Chang
Consolidated Statement of Changes in Member's Equity - USD ($) $ in Thousands | Total | Members' Capital [Member] | Accumulated Earnings (Deficit) [Member] |
Balance, beginning at Dec. 31, 2014 | $ 2,521,045 | $ 2,327,938 | $ 193,107 |
Equity [Roll Forward] | |||
Contribution (Distribution) from/to Member | (231,600) | 0 | (231,600) |
Net income (loss) | 114,903 | 0 | 114,903 |
Balance, ending at Dec. 31, 2015 | 2,404,348 | 2,327,938 | 76,410 |
Equity [Roll Forward] | |||
Contribution (Distribution) from/to Member | Equity contribution related to debt repayment [Member] | 508,472 | 508,472 | 0 |
Contribution (Distribution) from/to Member | (280,494) | (97,165) | (183,329) |
Net income (loss) | 106,919 | 0 | 106,919 |
Balance, ending at Dec. 31, 2016 | 2,739,245 | 2,739,245 | 0 |
Equity [Roll Forward] | |||
Contribution (Distribution) from/to Member | Equity contribution related to debt repayment [Member] | 0 | ||
Contribution (Distribution) from/to Member | (296,545) | (162,774) | (133,771) |
Net income (loss) | 133,771 | 0 | 133,771 |
Balance, ending at Dec. 31, 2017 | $ 2,576,471 | $ 2,576,471 | $ 0 |
Basis of Presentation
Basis of Presentation | 12 Months Ended |
Dec. 31, 2017 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying consolidated financial statements reflect the consolidated financial position, results of operations, and cash flows of CC Holdings GS V LLC ("CCL") and its consolidated wholly-owned subsidiaries (collectively, "Company"). The Company is a wholly-owned subsidiary of Global Signal Operating Partnership, L.P. ("GSOP"), which is an indirect subsidiary of Crown Castle International Corp., a Delaware corporation ("CCIC" or "Crown Castle"). CCL is a Delaware limited liability company ("LLC") that is a holding company and an issuer of the Company's debt. Intercompany accounts, transactions, and profits have been eliminated. As used herein, the term "including," and any variation thereof means "including without limitations." The use of the word "or" herein is not exclusive. The Company is organized specifically to own, lease, and manage approximately 7,600 towers and other structures (collectively, "towers"), and to a lesser extent, interests in land under third party and related party towers in various forms, ("land interests") (collectively, "communications infrastructure" or "sites") that are geographically dispersed across the United States ("U.S"). The Company's customers on its communications infrastructure are referred to herein as "tenants." The Company's core business is providing access, including space or capacity, to its sites via long-term contracts in various forms, including licenses, subleases, and lease agreements (collectively, "contracts"). Management services related to the Company's sites are performed by Crown Castle USA Inc. ("CCUSA"), an affiliate of the Company, under the Management Agreement (as defined below), as the Company has no employees. Approximately 68% of the Company's sites are leased or subleased or operated and managed for an initial period of 32 years (through May 2037) under master lease or other agreements with Sprint ("Sprint Sites"). CCIC, through its subsidiaries (including the Company), has the option to purchase in 2037 all (but not less than all) of the Sprint Sites from Sprint for approximately $2.3 billion . CCIC has no obligation to exercise the purchase option. For U.S. federal income tax purposes, CCIC operates as a real estate investment trust ("REIT"), and as its indirect subsidiary, the Company's assets and operations are included in the CCIC REIT. See notes 2 and 8 . The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and use assumptions that affect the reported amounts of assets and liabilities and the disclosure for contingent assets and liabilities at the date of the financial statements as well as the reported amounts of revenues and expenses during the reporting period. Actual results could differ from these estimates. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2017 | |
Summary of Significant Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Receivables Allowance An allowance for doubtful accounts is recorded as an offset to accounts receivable. The Company uses judgment in estimating this allowance and considers historical collections, current credit status, or contractual provisions. Additions to the allowance for doubtful accounts are charged to “site rental cost of operations,” and deductions from the allowance are recorded when specific accounts receivable are written off as uncollectible. Lease Accounting General. The Company classifies its leases at inception as either operating leases or capital leases. A lease is classified as a capital lease if at least one of the following criteria are met, subject to certain exceptions noted below: (1) the lease transfers ownership of the leased assets to the lessee, (2) there is a bargain purchase option, (3) the lease term is equal to 75% or more of the economic life of the leased assets or (4) the present value of the minimum lease payments equals or exceeds 90% of the fair value of the leased assets. Lessee. Leases for land are evaluated for capital lease treatment if at least one of the first two criteria mentioned in the immediately preceding paragraph is present relating to the leased assets. When the Company, as lessee, classifies a lease as a capital lease, it records an asset in an amount equal to the present value of the minimum lease payments under the lease at the beginning of the lease term. Applicable operating leases are recognized on a straight-line basis as discussed under " Costs of Operations " below. Lessor. If the Company is the lessor of leased property that is part of a larger whole (including a portion of space on a tower) and for which fair value is not objectively determinable, then such lease is accounted for as an operating lease. As applicable, operating leases are recognized on a straight-line basis as discussed under " Revenue Recognition ." See also "Recent Accounting Pronouncements Not Yet Adopted" below for further discussion. Property and Equipment Property and equipment is stated at cost, net of accumulated depreciation. Property and equipment includes land owned in fee and perpetual easements for land, which have no definite life. When the Company purchases fee ownership or perpetual easements for the land previously subject to ground lease, the Company reduces the value recorded as land by the amount of any associated deferred ground lease payable or unamortized above-market leases. Depreciation is computed utilizing the straight-line method at rates based upon the estimated useful lives of the various classes of assets. Depreciation of communications infrastructure is generally computed with a useful life equal to the shorter of 20 years or the term of the underlying ground lease (including optional renewal periods). Additions, renewals, or improvements are capitalized, while maintenance and repairs are expensed. The carrying value of property and equipment will be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Abandonments and write-offs of property and equipment are recorded to "asset write-down charges" on the Company's consolidated statement of operations and were $0.2 million , $4.9 million , and $5.4 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Asset Retirement Obligations Pursuant to its ground lease and easement agreements, the Company records obligations to perform asset retirement activities, including requirements to remove communications infrastructure or remediate the land upon which the Company's communications infrastructure resides. With respect to the Sprint Sites, the Company does not have retirement obligations to the extent such retirement would occur beyond the period for which it has a contract term. Asset retirement obligations are included in "above-market leases and other liabilities" on the Company's consolidated balance sheet. The liability accretes as a result of the passage of time and the related accretion expense is included in "depreciation, amortization, and accretion" expense on the Company's consolidated statement of operations. The associated asset retirement costs are capitalized as an additional carrying amount of the related long-lived asset and depreciated over the useful life of such asset. Goodwill Goodwill represents the excess of the purchase price for an acquired business over the allocated value of the related net assets. The Company tests goodwill for impairment on an annual basis, regardless of whether adverse events or changes in circumstances have occurred. The annual test begins with goodwill and all intangible assets being allocated to applicable reporting units. The Company then performs a qualitative assessment to determine whether it is "more likely than not" that the fair value of the reporting units is less than its carrying amount. If it is concluded that it is "more likely than not" that the fair value of a reporting unit is less than its carrying amount, it is necessary to perform the two-step goodwill impairment test. The two-step goodwill impairment test begins with a comparison of the estimated fair value of the reporting unit and the carrying value of the reporting unit. The first step, commonly referred to as a “step-one impairment test,” is a screen for potential impairment while the second step measures the amount of any impairment if there is an indication from the first step that one exists. The Company's measurement of the fair value for goodwill is based on an estimate of discounted expected future cash flows of the reporting unit. The Company has one reporting unit for goodwill impairment testing. The Company performed its most recent annual goodwill impairment test as of October 1, 2017, which resulted in no impairments. Other Intangible Assets Intangible assets are included in "site rental contracts and customer relationship, net" and "other intangible assets, net" on the Company's consolidated balance sheet and predominately consist of the estimated fair value of the following items recorded in conjunction with acquisitions: (1) site rental contracts and customer relationships or (2) below-market leases for land interests under the acquired towers classified as "other intangible assets, net." The site rental contracts and customer relationships intangible assets are comprised of (1) the current term of the existing contracts, (2) the expected exercise of the renewal provisions contained within the existing contracts, which automatically occur under contractual provisions, or (3) any associated relationships that are expected to generate value following the expiration of all renewal periods under existing contracts. The useful lives of intangible assets are estimated based on the period over which the intangible asset is expected to benefit the Company, which is calculated on an individual tenant basis, considering, among other things, the contractual provisions with the tenant and gives consideration to the expected useful life of other assets to which the useful life may relate. Amortization expense for intangible assets is computed using the straight-line method over the estimated useful life of each of the intangible assets. The useful life of the site rental contracts and customer relationships intangible asset is limited by the maximum depreciable life of the tower ( 20 years ), as a result of the interdependency of the tower and site rental contracts and customer relationships. In contrast, the site rental contracts and customer relationships are estimated to provide economic benefits for several decades because of the low rate of tenant cancellations and high rate of renewals experienced to date. Thus, while site rental contracts and customer relationships are valued based upon the fair value, which includes assumptions regarding both (1) tenants' exercise of optional renewals contained in the acquired contracts and (2) renewals of the acquired contracts past the contractual term including exercisable options, the site rental contracts and customer relationships are amortized over a period not to exceed 20 years as a result of the useful life being limited by the depreciable life of the sites. The carrying value of other intangible assets with finite useful lives will be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The Company has a dual grouping policy for purposes of determining the unit of account for testing impairment of the site rental contracts and customer relationships intangible assets. First, the Company pools the site rental contracts and customer relationships with the related tower assets into portfolio groups for purposes of determining the unit of account for impairment testing. Second and separately, the Company evaluates the site rental contracts and customer relationships by significant tenant or by tenant grouping for individually insignificant tenants, as appropriate. If the sum of the estimated future cash flows (undiscounted) expected to result from the use or eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset. Above-market Leases Above-market leases consist of the estimated fair value of above-market leases for land interests under the Company's towers. Above-market leases for land interests are amortized to costs of operations over their respective estimated remaining contract term at the acquisition date. Deferred Financing Costs Third-party costs incurred to obtain financing are deferred and are included as a direct deduction from the carrying amount of the related debt liability in "debt" on the Company's consolidated balance sheet. Revenue Recognition Site rental revenues are recognized on a monthly basis over the fixed, non-cancelable term of the relevant contract (generally ranging from five to 15 years), regardless of whether the payments from the tenant are received in equal monthly amounts. The Company's contracts contain fixed escalation clauses (such as fixed dollar or fixed percentage increases) or inflation-based escalation clauses (such as those tied to the consumer price index ("CPI")). If the payment terms call for fixed escalations, upfront payments, or rent-free periods, the revenue is recognized on a straight-line basis over the fixed, non-cancelable term of the agreement. When calculating straight-line rental revenues, the Company considers all fixed elements of tenant contractual escalation provisions, even if such escalation provisions contain a variable element in addition to a minimum. The Company's assets related to straight-line site rental revenues are included in "deferred site rental receivables." Amounts billed or received prior to being earned are deferred and reflected in "deferred revenues" on the Company's consolidated balance sheet. Costs of Operations In excess of three-fourths of the Company's site rental cost of operations consists of ground lease expenses, and the remainder includes repairs and maintenance expenses, utilities, property taxes, or insurance. Generally, the ground lease agreements are specific to each site, are for an initial term of five years and are renewable for pre-determined periods. The Company also enters into term easements and ground leases in which it prepays the entire term in advance. Ground lease expense is recognized on a monthly basis, regardless of whether the contract agreement payment terms require the Company to make payments annually, quarterly, monthly, or for the entire term in advance. The Company's ground leases contain fixed escalation clauses (such as fixed dollar or fixed percentage increases) or inflation-based escalation clauses (such as those tied to the CPI). If the payment terms include fixed escalation provisions, the effect of such increases is recognized on a straight-line basis. The Company calculates the straight-line ground lease expense using a time period that equals or exceeds the remaining depreciable life of the communications infrastructure asset. Further, when a tenant has exercisable renewal options that would compel the Company to exercise existing ground lease renewal options, the Company has straight-lined the ground lease expense over a sufficient portion of such ground lease renewals to coincide with the final termination of the tenant's renewal options. The Company's policy is to record ground lease agreements with affiliates under the same or similar economic terms as the contract agreement for the land that existed prior to the purchase of such land by the affiliate. The Company's current liability related to straight-line ground lease expense is included in "other accrued liabilities" on the Company's consolidated balance sheet and was $1.9 million and $1.6 million for the years ended December 31, 2017 and 2016 , respectively. The Company's non-current liability related to straight-line ground lease expense is included in "deferred ground lease payable" on the Company's consolidated balance sheet. The Company's assets related to prepaid ground leases is included in "prepaid expenses" and "long-term prepaid rent and other assets, net" on the Company's consolidated balance sheet. The Company's current liability related to accrued property taxes is included in "other accrued liabilities" on the Company's consolidated balance sheet and was $5.7 million and $5.8 million for the years ended December 31, 2017 and 2016 , respectively. Management Fee The Company is charged a management fee by CCUSA, a wholly-owned indirect subsidiary of CCIC, relating to management services, which include those functions reasonably necessary to maintain, market, operate, manage, and administer the sites. The management fee is equal to 7.5% of the Company's revenues, excluding the revenues related to the accounting for leases with fixed escalators as required by the applicable accounting standards. See note 6 . Income Taxes CCIC operates as a REIT for U.S. federal income tax purposes. The Company is an indirect subsidiary of CCIC and for U.S. federal income taxes purposes the Company's assets and operations are part of the CCIC REIT. As a REIT, CCIC is generally entitled to a deduction for dividends that it pays and therefore is not subject to U.S. federal corporate income tax on its taxable income that is currently distributed to its stockholders. CCIC also may be subject to certain federal, state, local, and foreign taxes on its income and assets, including (1) alternative minimum taxes (repealed effective January 1, 2018), (2) taxes on any undistributed income, (3) taxes related to the CCIC's taxable REIT subsidiaries, (4) franchise taxes, (5) property taxes, and (6) transfer taxes. In addition, CCIC could in certain circumstances be required to pay an excise or penalty tax, which could be significant in amount, in order to utilize one or more relief provisions under the Internal Revenue Code of 1986, as amended ("Code") to maintain qualification for taxation as a REIT. The Company does not expect the Tax Cuts and Jobs Act, which was signed into law in December 2017, to have a significant impact on its consolidated financial statements. Fair Values The Company's assets and liabilities recorded at fair value are categorized based upon a fair value hierarchy that ranks the quality and reliability of the information used to determine fair value. The three levels of the fair value hierarchy are (1) Level 1 - quoted prices (unadjusted) in active and accessible markets, (2) Level 2 - observable prices that are based on inputs not quoted in active markets but corroborated by market data, and (3) Level 3 - unobservable inputs and are not corroborated by market data. The Company evaluates fair value hierarchy level classifications quarterly, and transfers between levels are effective at the end of the quarterly period. The fair value of cash equivalents and restricted cash approximates the carrying value. The Company determines fair value of its debt securities based on indicative quotes (that is non-binding quotes) from brokers that require judgment to interpret market information including implied credit spreads for similar borrowings on recent trades or bid/ask prices or quotes from active markets if applicable. There were no changes since December 31, 2016 in the Company's valuation techniques used to measure fair values. See note 7 . Reporting Segments The Company has one operating segment. Recently Adopted Accounting Pronouncements No new accounting pronouncements adopted during the year ended December 31, 2017 had a material impact on the Company's consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued new guidance on the recognition, measurement, presentation and disclosure of leases. The new guidance requires lessees to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments for all leases with a term greater than 12 months. The accounting for lessors remains largely unchanged from existing guidance. This guidance is effective for the Company as of January 1, 2019 and is required to be applied using a modified retrospective approach for all leases existing at, or entered into after, the beginning of the earliest comparative period presented. Although early adoption is permitted, the Company does not expect to early adopt the new guidance prior to January 1, 2019. The Company expects that (1) lessee arrangements will continue to be classified as operating leases under the new guidance; (2) this guidance to have a material impact on its consolidated balance sheet due to the addition of right-of-use assets and lease liabilities for all lessee arrangements with a term greater than 12 months; and (3) there will not be a material impact to its consolidated statement of operations and consolidated statement of cash flows. In January 2017, the FASB issued new guidance to simplify the accounting for goodwill impairment by removing the second step of the existing goodwill impairment test. As a result of the guidance, goodwill impairment, if any, will be measured during the step-one impairment test as the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Additionally, the guidance does not change the option to complete a qualitative assessment prior to performing a step-one impairment test. The guidance is effective for the Company as of January 1, 2020. Early adoption is permitted. The Company is currently evaluating the impact of the guidance, including the impact on its consolidated financial statements. In January 2017, the FASB issued new guidance which clarifies the definition of a business in order to assist companies in evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The guidance is effective for the Company as of January 1, 2018, and is required to be applied prospectively. Early adoption is permitted. The Company will adopt this guidance effective January 1, 2018 and will apply the new guidance to prospective transactions. The adoption of this guidance will not have a material impact on the Company's consolidated financial statements. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | Property and Equipment The major classes of property and equipment are as follows: Estimated Useful Lives December 31, 2017 2016 Land (a) — $ 73,214 $ 73,872 Towers 1-20 years 1,872,975 1,827,805 Construction in progress — 14,514 15,876 Total gross property and equipment 1,960,703 1,917,553 Less accumulated depreciation (919,546 ) (828,670 ) Total property and equipment, net $ 1,041,157 $ 1,088,883 (a) Includes land owned in fee and perpetual easements. Depreciation expense for the years ended December 31, 2017 , 2016 , and 2015 was $94.3 million , $93.5 million , and $92.2 million , respectively. As discussed in notes 1 and 2 , the Company has certain prepaid capital leases and associated leasehold improvements, which have related gross property and equipment and accumulated depreciation of $1.0 billion and $559.7 million , respectively, as of December 31, 2017 . |
Intangible Assets and Above-mar
Intangible Assets and Above-market Leases | 12 Months Ended |
Dec. 31, 2017 | |
Goodwill and Intangible Assets | |
Intangible Assets and Above-market Leases | Intangible Assets and Above-market Leases The following is a summary of the Company's intangible assets. As of December 31, 2017 As of December 31, 2016 Gross Carrying Value Accumulated Amortization Net Book Value Gross Carrying Value Accumulated Amortization Net Book Value Site rental contracts and customer relationships $ 2,102,005 $ (1,199,338 ) $ 902,667 $ 2,102,005 $ (1,085,805 ) $ 1,016,200 Other intangible assets 50,999 (31,140 ) 19,859 51,595 (29,788 ) 21,807 Total $ 2,153,004 $ (1,230,478 ) $ 922,526 $ 2,153,600 $ (1,115,593 ) $ 1,038,007 Amortization expense related to intangible assets is classified as follows on the Company's consolidated statement of operations: For Years Ended December 31, 2017 2016 2015 Depreciation, amortization and accretion $ 113,635 $ 113,621 $ 113,570 Site rental costs of operations 1,591 1,677 1,788 Total amortization expense $ 115,226 $ 115,298 $ 115,358 The estimated annual amortization expense related to intangible assets (inclusive of those recorded as an increase to "site rental cost of operations") for the years ending December 31, 2018 to 2022 is as follows: Years Ending December 31, 2018 2019 2020 2021 2022 Estimated annual amortization $ 115,164 $ 115,136 $ 115,105 $ 114,998 $ 114,933 See note 2 for a further discussion of above-market leases for land interests under the Company's towers recorded in connection with acquisitions. For the years ended December 31, 2017 , 2016 and 2015 , the Company recorded $1.7 million , $1.8 million and $1.9 million , respectively, as a decrease to "site rental cost of operations." The following is a summary of the Company's above-market leases. As of December 31, 2017 As of December 31, 2016 Gross Carrying Value Accumulated Amortization Net Book Value Gross Carrying Value Accumulated Amortization Net Book Value Above-market leases $ 41,538 $ (23,263 ) $ 18,275 $ 41,538 $ (21,544 ) $ 19,994 The estimated annual amortization expense related to above-market leases for land interests under the Company's towers for the years ending December 31, 2018 to 2022 is as follows: Years Ending December 31, 2018 2019 2020 2021 2022 Estimated annual amortization $ 1,698 $ 1,674 $ 1,645 $ 1,512 $ 1,422 |
Debt and Other Obligations
Debt and Other Obligations | 12 Months Ended |
Dec. 31, 2017 | |
Debt and Other Obligations [Abstract] | |
Debt and Other Obligations | Debt 2012 Secured Notes On December 24, 2012, CCL and Crown Castle GS III Corp. ("Co-Issuer" and, together with CCL, "Issuers") issued (1) $500.0 million aggregate principal amount of 2.381% senior secured notes due December 2017 ("2.381% Secured Notes") and (2) $1.0 billion aggregate principal amount of 3.849% senior secured notes due April 2023 ("3.849% Secured Notes" and together with the 2.381% Secured Notes, "2012 Secured Notes"). The 2012 Secured Notes were issued pursuant to an indenture dated as of December 24, 2012 ("Indenture"), by and among the Issuers, the Guarantors (as defined below) and The Bank of New York Mellon Trust Company, N.A., as trustee ("Trustee"). The Issuers and the Guarantors are indirect wholly-owned subsidiaries of CCIC. The Company used the net proceeds from the issuance of the 2012 Secured Notes to (1) repurchase and redeem a portion of the previously outstanding 7.75% senior secured notes due 2017 ("7.75% Secured Notes") and (2) distribute cash to CCIC to fund the repurchase and redemption of a portion of CCIC's senior notes. The outstanding balance of the 2012 Secured Notes as of December 31, 2017 and December 31, 2016 was $1.0 billion . See below for discussion related to the repayment of the previously outstanding 2.381% Secured Notes. The stated interest rate of the 2012 Secured Notes as of December 31, 2017 was 3.849% per annum. The 3.849% Secured Notes are payable semi-annually in cash in arrears on April 15 and October 15 of each year, beginning on April 15, 2013. CCL, at its option, may redeem the 3.849% Secured Notes in whole or in part at any time by paying 100% of the principal amount of such 3.849% Secured Notes, together with accrued and unpaid interest, if any, plus a "make-whole" premium (as defined in the Indenture). The 3.849% Secured Notes are guaranteed by the direct and indirect wholly-owned subsidiaries of CCL, other than the Co-Issuer (collectively, "Guarantors"). The 3.849% Secured Notes will be paid solely from the cash flows generated from operation of the towers held directly or indirectly by CCL and the Guarantors. Concurrently with the issuance of the 2012 Secured Notes, CCL and certain of its subsidiaries entered into a pledge and security agreement with the Trustee. Pursuant to the terms of such pledge and security agreement, the 3.849% Secured Notes are secured on a first-priority basis by a pledge of the equity interests of the Guarantors. The Indenture limits, among other things, the ability of CCL and its subsidiaries to incur indebtedness, incur liens, enter into certain mergers or certain change of control transactions and enter into related party transactions, in each case subject to a number of exceptions and qualifications set forth in the Indenture. Management Agreement. On December 24, 2012, CCL and the Guarantors entered into a management agreement ("Management Agreement") with CCUSA, an indirect wholly-owned subsidiary of CCIC ("Manager"). The Management Agreement replaced the previous management agreement that existed among the parties. Pursuant to the Management Agreement, the Manager will continue to perform, on behalf of CCL and the Guarantors, those functions reasonably necessary to maintain, market, operate, manage, and administer their respective sites. The Management Agreement requires that the Company maintain cash sufficient to operate the business, including sufficient cash to pay expenses for the following month (including any interest payment due during the next month pursuant to the Indenture.) Debt Restrictions. The Indenture does not contain financial maintenance covenants but it does contain restrictive negative covenants, subject to certain exceptions, related to the Company's ability to incur indebtedness, incur liens, enter into certain mergers or change of control transactions, sell or issue equity interests and enter into related party transactions. With respect to the restriction regarding the issuance of debt, the Company may not issue debt other than (1) certain permitted refinancings of the 3.849% Secured Notes, (2) unsecured trade payables in the ordinary course of business and financing of equipment, land or other property up to an aggregate of $100.0 million , or (3) unsecured debt or additional notes under the Indenture provided that the Debt to Adjusted Consolidated Cash Flow Ratio (as defined in the Indenture) at the time of incurrence, and after giving effect to such incurrence, would have been no greater than 3.5 to 1. As of December 31, 2017 , the Company's Debt to Adjusted Consolidated Cash Flow Ratio is 2.5 to 1, and, as a result, the Company is not restricted in its ability to incur additional indebtedness. Further, the Company is not restricted in its ability to distribute cash to affiliates or issue dividends to its member. Contractual Maturities The following are the scheduled contractual maturities of total debt outstanding at December 31, 2017 . Years Ending December 31, 2018 2019 2020 2021 2022 Thereafter Total Cash Obligations Unamortized Deferred Financing Costs Total Debt Outstanding Scheduled contractual maturities $ — $ — $ — $ — $ — $ 1,000,000 $ 1,000,000 $ (7,337 ) $ 992,663 Previously Outstanding Debt In September 2016, CCIC issued $700 million aggregate principal amount of 2.250% senior unsecured notes ("September 2016 Senior Notes"). CCIC used a portion of the net proceeds from the September 2016 Senior Notes offering to repay in full the previously outstanding 2.381% Secured Notes. The Company recorded an equity contribution related to the repayment of the previously outstanding 2.381% Secured Notes for the year ended December 31, 2016. As a result of the repayment of the previously outstanding 2.381% Secured Notes, the Company recorded a loss on retirement of debt of $10.3 million , which was inclusive of $1.8 million related to the write off of deferred financing costs. Interest Expense and Amortization of Deferred Financing Costs The components of "interest expense and amortization of deferred financing costs" are as follows: Years Ended December 31, 2017 2016 2015 Interest expense on debt obligations $ 38,490 $ 47,088 $ 50,395 Amortization of deferred financing costs 1,384 2,427 2,828 Total $ 39,874 $ 49,515 $ 53,223 |
Related Party Transactions
Related Party Transactions | 12 Months Ended |
Dec. 31, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure | Related Party Transactions As discussed in note 5 , the Company and the Guarantors entered into a Management Agreement with CCUSA, which replaced a previous management agreement among the same parties. Pursuant to the Management Agreement, CCUSA has agreed to employ, supervise, and pay at all times a sufficient number of capable employees as may be necessary to perform services in accordance with the operation standards defined in the Management Agreement. CCUSA currently acts as the Manager of the majority of the sites held by subsidiaries of CCIC. The management fee is equal to 7.5% of the Company's "Operating Revenues," as defined in the Management Agreement, which is based on the Company’s reported revenues adjusted to exclude certain items including revenues related to the accounting for leases with fixed escalators. The fee is compensation for those functions reasonably necessary to maintain, market, operate, manage, and administer the sites, other than the operating expenses, which includes but is not limited to real estate and personal property taxes, ground lease and easement payments, and insurance premiums. In addition, in connection with its role as Manager, CCUSA may make certain modifications to the Company's sites. The management fee charged by CCUSA for the years ended December 31, 2017 , 2016 , and 2015 totaled $46.9 million , $45.4 million , and $43.7 million , respectively. In addition, CCUSA may perform installation services on the Company's towers for which the Company is not a party to any agreement and for which no operating results are reflected herein. As part of the CCIC strategy to obtain long-term control of the land under its towers, affiliates of the Company have acquired rights to land interests under the Company's towers. These affiliates then lease the land to the Company. Under such circumstances, the Company's obligation typically continues with the same or similar economic terms as the contract agreement for the land that existed prior to the purchase of such land by the affiliate. As of December 31, 2017 , there are nearly 30% of the Company's sites where the land under the tower is owned by an affiliate. Rent expense to affiliates totaled $36.7 million , $33.9 million , and $31.9 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. Also, the Company receives rent revenue from affiliates for land owned by the Company that affiliates have towers on and pays ground rent expense to affiliates for land owned by affiliates that the Company has towers on. For the years ended December 31, 2017 , 2016 , and 2015 , rent revenue from affiliates totaled $1.0 million , $1.0 million , and $0.9 million , respectively. For the year ended December 31, 2017 , the Company recorded an equity distribution of $296.5 million , reflecting distributions to its member. For the year ended December 31, 2016, the company recorded a net equity contribution of $228.0 million , which was inclusive of (1) an equity contribution from CCIC of $508.5 million related to the repayment of the previously outstanding 2.381% Secured Notes (see note 5 ) and (2) an equity distribution of $280.5 million , reflecting distributions to its member. For the year ended December 31, 2015, the Company recorded an equity distribution of $231.6 million , reflecting distributions to its member. Cash on-hand above the amount that is required by the Management Agreement has been, and is expected to continue to be, distributed to the Company's parent company. As of As of December 31, 2017 and 2016 , the Company had no material related party assets or liabilities on its consolidated balance sheet. |
Fair Value Disclosures
Fair Value Disclosures | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures | |
Fair Value Disclosures | Fair Values The fair value of cash and cash equivalents approximates the carrying value. The Company determines the fair value of its debt securities based on indicative quotes (that are non-binding quotes) from brokers that require judgment to interpret market information, including implied credit spreads for similar borrowings on recent trades or bid/ask prices or quotes from active markets if applicable. The estimated fair values of the Company's financial instruments, along with the carrying amounts of the related assets and liabilities, are as follows: Level in Fair Value Hierarchy December 31, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents 1 $ 30,771 $ 30,771 $ 19,550 $ 19,550 Liabilities: Debt 2 992,663 1,032,530 991,279 1,013,300 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2017 | |
Income Taxes [Abstract] | |
Income Taxes | Income Taxes For the years ended December 31, 2017 , 2016 and 2015 the Company had benefits for income taxes of $0.6 million , $0.7 million , and $0.7 million , respectively, which consisted of the reduction of unrecognized tax benefits as a result of the lapse of the statute of limitations partially offset by state taxes. The Company's effective tax rate for the years ended December 31, 2017 , 2016 and 2015 differed from the federal statutory rate predominately due to CCIC's REIT status, including the dividends paid deduction (see notes 1 and 2 ), and the aforementioned impacts described above . As of December 31, 2017 , there were no unrecognized tax benefits that would impact the effective tax rate, if recognized. From time to time, the Company is subject to examinations by various tax authorities in jurisdictions in which the Company has business operations. The Company regularly assesses the likelihood of additional assessments in each of the tax jurisdictions resulting from these examinations. At this time, CCIC is not subject to an Internal Revenue Service examination. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2017 | |
Commitments and Contingencies [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies The Company is involved in various claims, lawsuits, or proceedings arising in the ordinary course of business. While there are uncertainties inherent in the ultimate outcome of such matters, and it is impossible to presently determine the ultimate costs or losses that may be incurred, if any, management believes the resolution of such uncertainties and the incurrence of such costs should not have a material adverse effect on the Company's consolidated financial position or results of operations. See note 10 for a discussion of the operating lease commitments. In addition, see note 1 for a discussion of the CCIC's option to purchase approximately 68% of the Company's towers at the end of their respective contract terms. CCIC has no obligation to exercise the purchase option. Asset Retirement Obligations Pursuant to its ground lease and easement agreements, the Company has the obligation to perform certain asset retirement activities, including requirements upon contract or easement termination to remove communications infrastructure or remediate the land upon which communications infrastructure resides. Accretion expense related to liabilities for retirement obligations amounted to $2.6 million , $2.3 million , and $2.1 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. As of December 31, 2017 and 2016 , liabilities for retirement obligations amounted to $30.9 million and $28.5 million , respectively, representing the net present value of the estimated expected future cash outlay. As of December 31, 2017 , the estimated undiscounted future cash outlay for asset retirement obligations was approximately $132 million . See note 2 . |
Leases
Leases | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Leases | Leases Tenant Leases The following table is a summary of the rental cash payments owed to the Company, as a lessor, by tenants pursuant to contractual agreements in effect as of December 31, 2017 . Generally, the Company's leases with its tenants provide for (1) annual escalations, (2) multiple renewal periods at the tenant's option, and (3) only limited termination rights at the applicable tenant's option through the current term. As of December 31, 2017 , the weighted-average remaining term (calculated by weighting the remaining term for each lease by the related site rental revenue) of tenant leases is approximately six years , exclusive of renewals at the tenant's option. The tenants' rental payments included in the table below are through the current terms with a maximum current term of 20 years and do not assume exercise of tenant renewal options. Years Ending December 31, 2018 2019 2020 2021 2022 Thereafter Total Tenant leases $ 631,239 $ 618,134 $ 611,719 $ 593,410 $ 550,235 $ 1,203,114 $ 4,207,851 Operating Leases The following table is a summary of rental cash payments owed by the Company, as lessee, to landlords pursuant to contractual agreements in effect as of December 31, 2017 . The Company is obligated under non-cancelable operating leases for land interests under approximately 90% of its sites. The majority of these lease agreements have (1) certain termination rights that provide for cancellation after a notice period, (2) multiple renewal options at the Company's option, and (3) annual escalations. Lease agreements may also contain provisions for a contingent payment based on revenues or the gross margin derived from the tower located on the leased land interest. More than 80% and more than 50% of the Company's sites are under the Company's control for greater than ten and 20 years , respectively, including renewals at the Company's option. The operating lease payments included in the table below include payments for certain renewal periods at the Company's option up to the estimated tower useful life of 20 years and an estimate of contingent payments based on revenues and gross margins derived from existing tenant leases. See also note 6 . Years Ending December 31, 2018 2019 2020 2021 2022 Thereafter Total Operating leases $ 138,940 $ 140,350 $ 141,363 $ 141,078 $ 138,026 $ 1,726,965 $ 2,426,722 Rental expense from operating leases was $148.6 million , $144.6 million , and $142.9 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. The rental expense was inclusive of contingent payments based on revenues or gross margin derived from the tower located on the leased land of $29.6 million , $29.0 million , and $28.0 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. |
Concentration of Credit Risk
Concentration of Credit Risk | 12 Months Ended |
Dec. 31, 2017 | |
Risks and Uncertainties [Abstract] | |
Concentration of Credit Risk | Concentration of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk are primarily cash and cash equivalents and trade receivables. The Company mitigates its risk with respect to cash and cash equivalents by maintaining such deposits at high credit quality financial institutions and monitoring the credit ratings of those institutions. See note 2 . The Company derives the largest portion of its revenues from customers in the wireless industry. The Company also has a concentration in its volume of business with Sprint, AT&T, T-Mobile, and Verizon Wireless that accounts for a significant portion of the Company's revenues, receivables, and deferred site rental receivables. The Company mitigates its concentrations of credit risk with respect to trade receivables by actively monitoring the creditworthiness of its tenants, the use of tenant contracts with contractually determinable payment terms and proactive management of past due balances. Major Customers The following table summarizes the percentage of the Company's revenues for those tenants accounting for more than 10% of the Company's revenues. Years Ended December 31, 2017 2016 2015 Sprint 37 % 38 % 38 % AT&T 19 % 20 % 21 % T-Mobile 19 % 18 % 18 % Verizon Wireless 13 % 13 % 12 % Total 88 % 89 % 89 % |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 12 Months Ended |
Dec. 31, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information | Supplemental Cash Flow Information The following table is a summary of the supplemental cash flow information during the years ended December 31, 2017 , 2016 , and 2015 . For Years Ended December 31, 2017 2016 2015 Supplemental disclosure of cash flow information: Interest paid $ 38,490 $ 47,617 $ 50,395 |
Guarantor Subsidiaries (Notes)
Guarantor Subsidiaries (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Guarantees [Abstract] | |
Guarantor Subsidiaries | Guarantor Subsidiaries CCL has no independent assets or operations. The 3.849% Secured Notes are guaranteed by all subsidiaries of CCL, each of which is a wholly-owned subsidiary of CCL, other than Crown Castle GS III Corp., which is a co-issuer of the 2012 Secured Notes and a wholly-owned finance subsidiary. Such guarantees are full and unconditional and joint and several. Subject to the provisions of the Indenture, a guarantor may be released and relieved of its obligations under its guarantee under certain circumstances including: (1) in the event of any sale or other disposition of all or substantially all of the assets of any guarantor, by way of merger, consolidation or otherwise to a person that is not (either before or after giving effect to such transaction) CCL or a subsidiary of CCL, (2) in the event of any sale or other disposition of all of the capital stock of any guarantor, to a person that is not (either before or after giving effect to such transaction) CCL or a subsidiary of CCL, (3) upon CCL's exercise of legal defeasance in accordance with the relevant provisions of the Indenture, or (4) upon the discharge of the Indenture in accordance with its terms. |
Schedule III - Real Estate and
Schedule III - Real Estate and Accumulated Depreciation (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Text Block] | Description Encumbrances Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount Carried at Close of Current Period Accumulated Depreciation at Close of Current Period Date of Construction Date Acquired Life on Which Depreciation in Latest Income Statement is Computed 7,603 sites (1) $ 992,663 (2) (3) (3) $ 1,960,703 (4) $ (919,546 ) 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) As of December 31, 2017 , all of the Company's debt is secured by a pledge of the equity interests in each applicable Guarantor. (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. 2017 2016 Gross amount at beginning $ 1,917,553 $ 1,875,940 Additions during period: Acquisitions through foreclosure — — Other acquisitions — — Communications infrastructure construction and improvements 40,051 43,721 Purchase of land interests — — Sustaining capital expenditures 9,500 9,688 Other — — Total additions 49,551 53,409 Deductions during period: Cost of real estate sold or disposed (6,401 ) (11,796 ) Other — — Total deductions: (6,401 ) (11,796 ) Balance at end $ 1,960,703 $ 1,917,553 2017 2016 Gross amount of accumulated depreciation at beginning $ (828,670 ) $ (740,236 ) Additions during period: Depreciation (94,348 ) (93,455 ) Total additions (94,348 ) (93,455 ) Deductions during period: Amount for assets sold or disposed 3,472 5,021 Other — — Total deductions 3,472 5,021 Balance at end $ (919,546 ) $ (828,670 ) |
Schedule II - Valuation and Qua
Schedule II - Valuation and Qualifying Accounts (Notes) | 12 Months Ended |
Dec. 31, 2017 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | |
Schedule of Valuation and Qualifying Accounts Disclosure [Text Block] | CC HOLDINGS GS V LLC SCHEDULE II — VALUATION AND QUALIFYING ACCOUNTS YEARS ENDED DECEMBER 31, 2017 , 2016 AND 2015 (In thousands of dollars) Additions Deletions Balance at Beginning of Year Charged to Operations Credited to Operations Written Off Balance at End of Year Allowance for Doubtful Accounts Receivable: 2017 $ 1,810 $ 662 $ — $ (1,172 ) $ 1,300 2016 $ 882 $ 1,697 $ — $ (769 ) $ 1,810 2015 $ 1,099 $ 284 $ — $ (501 ) $ 882 |
Summary of Significant Accoun22
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2017 | |
Lessor, Lease, Description [Line Items] | |
Receivables Allowance | Receivables Allowance An allowance for doubtful accounts is recorded as an offset to accounts receivable. The Company uses judgment in estimating this allowance and considers historical collections, current credit status, or contractual provisions. Additions to the allowance for doubtful accounts are charged to “site rental cost of operations,” and deductions from the allowance are recorded when specific accounts receivable are written off as uncollectible. |
Lessee, Leases [Policy Text Block] | Lessee. Leases for land are evaluated for capital lease treatment if at least one of the first two criteria mentioned in the immediately preceding paragraph is present relating to the leased assets. When the Company, as lessee, classifies a lease as a capital lease, it records an asset in an amount equal to the present value of the minimum lease payments under the lease at the beginning of the lease term. Applicable operating leases are recognized on a straight-line basis as discussed under " Costs of Operations " below. |
Lessor, Leases [Policy Text Block] | Lessor. If the Company is the lessor of leased property that is part of a larger whole (including a portion of space on a tower) and for which fair value is not objectively determinable, then such lease is accounted for as an operating lease. As applicable, operating leases are recognized on a straight-line basis as discussed under " Revenue Recognition ." See also "Recent Accounting Pronouncements Not Yet Adopted" below for further discussion. |
Property and Equipment | Property and Equipment Property and equipment is stated at cost, net of accumulated depreciation. Property and equipment includes land owned in fee and perpetual easements for land, which have no definite life. When the Company purchases fee ownership or perpetual easements for the land previously subject to ground lease, the Company reduces the value recorded as land by the amount of any associated deferred ground lease payable or unamortized above-market leases. Depreciation is computed utilizing the straight-line method at rates based upon the estimated useful lives of the various classes of assets. Depreciation of communications infrastructure is generally computed with a useful life equal to the shorter of 20 years or the term of the underlying ground lease (including optional renewal periods). Additions, renewals, or improvements are capitalized, while maintenance and repairs are expensed. The carrying value of property and equipment will be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Abandonments and write-offs of property and equipment are recorded to "asset write-down charges" on the Company's consolidated statement of operations and were $0.2 million , $4.9 million , and $5.4 million for the years ended December 31, 2017 , 2016 , and 2015 , respectively. |
Asset Retirement Obligations | Asset Retirement Obligations Pursuant to its ground lease and easement agreements, the Company records obligations to perform asset retirement activities, including requirements to remove communications infrastructure or remediate the land upon which the Company's communications infrastructure resides. With respect to the Sprint Sites, the Company does not have retirement obligations to the extent such retirement would occur beyond the period for which it has a contract term. Asset retirement obligations are included in "above-market leases and other liabilities" on the Company's consolidated balance sheet. The liability accretes as a result of the passage of time and the related accretion expense is included in "depreciation, amortization, and accretion" expense on the Company's consolidated statement of operations. The associated asset retirement costs are capitalized as an additional carrying amount of the related long-lived asset and depreciated over the useful life of such asset. |
Goodwill | Goodwill Goodwill represents the excess of the purchase price for an acquired business over the allocated value of the related net assets. The Company tests goodwill for impairment on an annual basis, regardless of whether adverse events or changes in circumstances have occurred. The annual test begins with goodwill and all intangible assets being allocated to applicable reporting units. The Company then performs a qualitative assessment to determine whether it is "more likely than not" that the fair value of the reporting units is less than its carrying amount. If it is concluded that it is "more likely than not" that the fair value of a reporting unit is less than its carrying amount, it is necessary to perform the two-step goodwill impairment test. The two-step goodwill impairment test begins with a comparison of the estimated fair value of the reporting unit and the carrying value of the reporting unit. The first step, commonly referred to as a “step-one impairment test,” is a screen for potential impairment while the second step measures the amount of any impairment if there is an indication from the first step that one exists. The Company's measurement of the fair value for goodwill is based on an estimate of discounted expected future cash flows of the reporting unit. The Company has one reporting unit for goodwill impairment testing. The Company performed its most recent annual goodwill impairment test as of October 1, 2017, which resulted in no impairments. |
Other Intangible Assets | Other Intangible Assets Intangible assets are included in "site rental contracts and customer relationship, net" and "other intangible assets, net" on the Company's consolidated balance sheet and predominately consist of the estimated fair value of the following items recorded in conjunction with acquisitions: (1) site rental contracts and customer relationships or (2) below-market leases for land interests under the acquired towers classified as "other intangible assets, net." The site rental contracts and customer relationships intangible assets are comprised of (1) the current term of the existing contracts, (2) the expected exercise of the renewal provisions contained within the existing contracts, which automatically occur under contractual provisions, or (3) any associated relationships that are expected to generate value following the expiration of all renewal periods under existing contracts. The useful lives of intangible assets are estimated based on the period over which the intangible asset is expected to benefit the Company, which is calculated on an individual tenant basis, considering, among other things, the contractual provisions with the tenant and gives consideration to the expected useful life of other assets to which the useful life may relate. Amortization expense for intangible assets is computed using the straight-line method over the estimated useful life of each of the intangible assets. The useful life of the site rental contracts and customer relationships intangible asset is limited by the maximum depreciable life of the tower ( 20 years ), as a result of the interdependency of the tower and site rental contracts and customer relationships. In contrast, the site rental contracts and customer relationships are estimated to provide economic benefits for several decades because of the low rate of tenant cancellations and high rate of renewals experienced to date. Thus, while site rental contracts and customer relationships are valued based upon the fair value, which includes assumptions regarding both (1) tenants' exercise of optional renewals contained in the acquired contracts and (2) renewals of the acquired contracts past the contractual term including exercisable options, the site rental contracts and customer relationships are amortized over a period not to exceed 20 years as a result of the useful life being limited by the depreciable life of the sites. The carrying value of other intangible assets with finite useful lives will be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. The Company has a dual grouping policy for purposes of determining the unit of account for testing impairment of the site rental contracts and customer relationships intangible assets. First, the Company pools the site rental contracts and customer relationships with the related tower assets into portfolio groups for purposes of determining the unit of account for impairment testing. Second and separately, the Company evaluates the site rental contracts and customer relationships by significant tenant or by tenant grouping for individually insignificant tenants, as appropriate. If the sum of the estimated future cash flows (undiscounted) expected to result from the use or eventual disposition of an asset is less than the carrying amount of the asset, an impairment loss is recognized. Measurement of an impairment loss is based on the fair value of the asset. |
Deferred Credits | Above-market Leases Above-market leases consist of the estimated fair value of above-market leases for land interests under the Company's towers. Above-market leases for land interests are amortized to costs of operations over their respective estimated remaining contract term at the acquisition date. |
Deferred Financing Costs | Deferred Financing Costs Third-party costs incurred to obtain financing are deferred and are included as a direct deduction from the carrying amount of the related debt liability in "debt" on the Company's consolidated balance sheet. |
Revenue Recognition | Revenue Recognition Site rental revenues are recognized on a monthly basis over the fixed, non-cancelable term of the relevant contract (generally ranging from five to 15 years), regardless of whether the payments from the tenant are received in equal monthly amounts. The Company's contracts contain fixed escalation clauses (such as fixed dollar or fixed percentage increases) or inflation-based escalation clauses (such as those tied to the consumer price index ("CPI")). If the payment terms call for fixed escalations, upfront payments, or rent-free periods, the revenue is recognized on a straight-line basis over the fixed, non-cancelable term of the agreement. When calculating straight-line rental revenues, the Company considers all fixed elements of tenant contractual escalation provisions, even if such escalation provisions contain a variable element in addition to a minimum. The Company's assets related to straight-line site rental revenues are included in "deferred site rental receivables." Amounts billed or received prior to being earned are deferred and reflected in "deferred revenues" on the Company's consolidated balance sheet. |
Cost of Operations | Costs of Operations In excess of three-fourths of the Company's site rental cost of operations consists of ground lease expenses, and the remainder includes repairs and maintenance expenses, utilities, property taxes, or insurance. Generally, the ground lease agreements are specific to each site, are for an initial term of five years and are renewable for pre-determined periods. The Company also enters into term easements and ground leases in which it prepays the entire term in advance. Ground lease expense is recognized on a monthly basis, regardless of whether the contract agreement payment terms require the Company to make payments annually, quarterly, monthly, or for the entire term in advance. The Company's ground leases contain fixed escalation clauses (such as fixed dollar or fixed percentage increases) or inflation-based escalation clauses (such as those tied to the CPI). If the payment terms include fixed escalation provisions, the effect of such increases is recognized on a straight-line basis. The Company calculates the straight-line ground lease expense using a time period that equals or exceeds the remaining depreciable life of the communications infrastructure asset. Further, when a tenant has exercisable renewal options that would compel the Company to exercise existing ground lease renewal options, the Company has straight-lined the ground lease expense over a sufficient portion of such ground lease renewals to coincide with the final termination of the tenant's renewal options. The Company's policy is to record ground lease agreements with affiliates under the same or similar economic terms as the contract agreement for the land that existed prior to the purchase of such land by the affiliate. The Company's current liability related to straight-line ground lease expense is included in "other accrued liabilities" on the Company's consolidated balance sheet and was $1.9 million and $1.6 million for the years ended December 31, 2017 and 2016 , respectively. The Company's non-current liability related to straight-line ground lease expense is included in "deferred ground lease payable" on the Company's consolidated balance sheet. The Company's assets related to prepaid ground leases is included in "prepaid expenses" and "long-term prepaid rent and other assets, net" on the Company's consolidated balance sheet. The Company's current liability related to accrued property taxes is included in "other accrued liabilities" on the Company's consolidated balance sheet and was $5.7 million and $5.8 million for the years ended December 31, 2017 and 2016 , respectively. |
Management Fee | Management Fee The Company is charged a management fee by CCUSA, a wholly-owned indirect subsidiary of CCIC, relating to management services, which include those functions reasonably necessary to maintain, market, operate, manage, and administer the sites. The management fee is equal to 7.5% of the Company's revenues, excluding the revenues related to the accounting for leases with fixed escalators as required by the applicable accounting standards. See note 6 . |
Income Taxes | Income Taxes CCIC operates as a REIT for U.S. federal income tax purposes. The Company is an indirect subsidiary of CCIC and for U.S. federal income taxes purposes the Company's assets and operations are part of the CCIC REIT. As a REIT, CCIC is generally entitled to a deduction for dividends that it pays and therefore is not subject to U.S. federal corporate income tax on its taxable income that is currently distributed to its stockholders. CCIC also may be subject to certain federal, state, local, and foreign taxes on its income and assets, including (1) alternative minimum taxes (repealed effective January 1, 2018), (2) taxes on any undistributed income, (3) taxes related to the CCIC's taxable REIT subsidiaries, (4) franchise taxes, (5) property taxes, and (6) transfer taxes. In addition, CCIC could in certain circumstances be required to pay an excise or penalty tax, which could be significant in amount, in order to utilize one or more relief provisions under the Internal Revenue Code of 1986, as amended ("Code") to maintain qualification for taxation as a REIT. |
Fair Values | Fair Values The Company's assets and liabilities recorded at fair value are categorized based upon a fair value hierarchy that ranks the quality and reliability of the information used to determine fair value. The three levels of the fair value hierarchy are (1) Level 1 - quoted prices (unadjusted) in active and accessible markets, (2) Level 2 - observable prices that are based on inputs not quoted in active markets but corroborated by market data, and (3) Level 3 - unobservable inputs and are not corroborated by market data. The Company evaluates fair value hierarchy level classifications quarterly, and transfers between levels are effective at the end of the quarterly period. The fair value of cash equivalents and restricted cash approximates the carrying value. The Company determines fair value of its debt securities based on indicative quotes (that is non-binding quotes) from brokers that require judgment to interpret market information including implied credit spreads for similar borrowings on recent trades or bid/ask prices or quotes from active markets if applicable. There were no changes since December 31, 2016 in the Company's valuation techniques used to measure fair values. See note 7 . |
Reporting Segments | Reporting Segments The Company has one operating segment. |
Recent Accounting Pronouncements | Recently Adopted Accounting Pronouncements No new accounting pronouncements adopted during the year ended December 31, 2017 had a material impact on the Company's consolidated financial statements. Recent Accounting Pronouncements Not Yet Adopted In February 2016, the FASB issued new guidance on the recognition, measurement, presentation and disclosure of leases. The new guidance requires lessees to recognize a right-of-use asset and a lease liability, initially measured at the present value of the lease payments for all leases with a term greater than 12 months. The accounting for lessors remains largely unchanged from existing guidance. This guidance is effective for the Company as of January 1, 2019 and is required to be applied using a modified retrospective approach for all leases existing at, or entered into after, the beginning of the earliest comparative period presented. Although early adoption is permitted, the Company does not expect to early adopt the new guidance prior to January 1, 2019. The Company expects that (1) lessee arrangements will continue to be classified as operating leases under the new guidance; (2) this guidance to have a material impact on its consolidated balance sheet due to the addition of right-of-use assets and lease liabilities for all lessee arrangements with a term greater than 12 months; and (3) there will not be a material impact to its consolidated statement of operations and consolidated statement of cash flows. In January 2017, the FASB issued new guidance to simplify the accounting for goodwill impairment by removing the second step of the existing goodwill impairment test. As a result of the guidance, goodwill impairment, if any, will be measured during the step-one impairment test as the amount by which a reporting unit's carrying value exceeds its fair value, not to exceed the carrying amount of goodwill. Additionally, the guidance does not change the option to complete a qualitative assessment prior to performing a step-one impairment test. The guidance is effective for the Company as of January 1, 2020. Early adoption is permitted. The Company is currently evaluating the impact of the guidance, including the impact on its consolidated financial statements. In January 2017, the FASB issued new guidance which clarifies the definition of a business in order to assist companies in evaluating whether transactions should be accounted for as acquisitions or disposals of assets or businesses. The guidance is effective for the Company as of January 1, 2018, and is required to be applied prospectively. Early adoption is permitted. The Company will adopt this guidance effective January 1, 2018 and will apply the new guidance to prospective transactions. The adoption of this guidance will not have a material impact on the Company's consolidated financial statements. |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Property, Plant and Equipment [Abstract] | |
Major Classes of Property and Equipment | The major classes of property and equipment are as follows: Estimated Useful Lives December 31, 2017 2016 Land (a) — $ 73,214 $ 73,872 Towers 1-20 years 1,872,975 1,827,805 Construction in progress — 14,514 15,876 Total gross property and equipment 1,960,703 1,917,553 Less accumulated depreciation (919,546 ) (828,670 ) Total property and equipment, net $ 1,041,157 $ 1,088,883 (a) Includes land owned in fee and perpetual easements. |
Intangible Assets and Above-m24
Intangible Assets and Above-market Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible Assets | The following is a summary of the Company's intangible assets. As of December 31, 2017 As of December 31, 2016 Gross Carrying Value Accumulated Amortization Net Book Value Gross Carrying Value Accumulated Amortization Net Book Value Site rental contracts and customer relationships $ 2,102,005 $ (1,199,338 ) $ 902,667 $ 2,102,005 $ (1,085,805 ) $ 1,016,200 Other intangible assets 50,999 (31,140 ) 19,859 51,595 (29,788 ) 21,807 Total $ 2,153,004 $ (1,230,478 ) $ 922,526 $ 2,153,600 $ (1,115,593 ) $ 1,038,007 |
Schedule of Estimated Annual Amortization Expense | Amortization expense related to intangible assets is classified as follows on the Company's consolidated statement of operations: For Years Ended December 31, 2017 2016 2015 Depreciation, amortization and accretion $ 113,635 $ 113,621 $ 113,570 Site rental costs of operations 1,591 1,677 1,788 Total amortization expense $ 115,226 $ 115,298 $ 115,358 |
Site Rental Contracts and Customer Relationships [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Schedule of Estimated Annual Amortization Expense | The estimated annual amortization expense related to intangible assets (inclusive of those recorded as an increase to "site rental cost of operations") for the years ending December 31, 2018 to 2022 is as follows: Years Ending December 31, 2018 2019 2020 2021 2022 Estimated annual amortization $ 115,164 $ 115,136 $ 115,105 $ 114,998 $ 114,933 |
Above Market Leases [Member] | |
Finite-Lived Intangible Assets [Line Items] | |
Intangible Assets | The following is a summary of the Company's above-market leases. As of December 31, 2017 As of December 31, 2016 Gross Carrying Value Accumulated Amortization Net Book Value Gross Carrying Value Accumulated Amortization Net Book Value Above-market leases $ 41,538 $ (23,263 ) $ 18,275 $ 41,538 $ (21,544 ) $ 19,994 |
Schedule of Estimated Annual Amortization Expense | The estimated annual amortization expense related to above-market leases for land interests under the Company's towers for the years ending December 31, 2018 to 2022 is as follows: Years Ending December 31, 2018 2019 2020 2021 2022 Estimated annual amortization $ 1,698 $ 1,674 $ 1,645 $ 1,512 $ 1,422 |
Debt and Other Obligations (Tab
Debt and Other Obligations (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Debt and Other Obligations [Abstract] | |
Schedule of Maturities of Long-term Debt | Contractual Maturities The following are the scheduled contractual maturities of total debt outstanding at December 31, 2017 . Years Ending December 31, 2018 2019 2020 2021 2022 Thereafter Total Cash Obligations Unamortized Deferred Financing Costs Total Debt Outstanding Scheduled contractual maturities $ — $ — $ — $ — $ — $ 1,000,000 $ 1,000,000 $ (7,337 ) $ 992,663 |
Schedule of Extinguishment of Debt | . |
Schedule Of Interest Expense And Amortization Of Deferred Financing Costs [Text Block] | The components of "interest expense and amortization of deferred financing costs" are as follows: Years Ended December 31, 2017 2016 2015 Interest expense on debt obligations $ 38,490 $ 47,088 $ 50,395 Amortization of deferred financing costs 1,384 2,427 2,828 Total $ 39,874 $ 49,515 $ 53,223 |
Fair Value Disclosures (Tables)
Fair Value Disclosures (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Fair Value Disclosures | |
Estimated Fair Values and Carrying Amounts of Assets and Liabilities | Level in Fair Value Hierarchy December 31, 2017 December 31, 2016 Carrying Amount Fair Value Carrying Amount Fair Value Assets: Cash and cash equivalents 1 $ 30,771 $ 30,771 $ 19,550 $ 19,550 Liabilities: Debt 2 992,663 1,032,530 991,279 1,013,300 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Leases [Abstract] | |
Tenant Leases | The following table is a summary of the rental cash payments owed to the Company, as a lessor, by tenants pursuant to contractual agreements in effect as of December 31, 2017 . Generally, the Company's leases with its tenants provide for (1) annual escalations, (2) multiple renewal periods at the tenant's option, and (3) only limited termination rights at the applicable tenant's option through the current term. As of December 31, 2017 , the weighted-average remaining term (calculated by weighting the remaining term for each lease by the related site rental revenue) of tenant leases is approximately six years , exclusive of renewals at the tenant's option. The tenants' rental payments included in the table below are through the current terms with a maximum current term of 20 years and do not assume exercise of tenant renewal options. Years Ending December 31, 2018 2019 2020 2021 2022 Thereafter Total Tenant leases $ 631,239 $ 618,134 $ 611,719 $ 593,410 $ 550,235 $ 1,203,114 $ 4,207,851 |
Operating Leases | The following table is a summary of rental cash payments owed by the Company, as lessee, to landlords pursuant to contractual agreements in effect as of December 31, 2017 . The Company is obligated under non-cancelable operating leases for land interests under approximately 90% of its sites. The majority of these lease agreements have (1) certain termination rights that provide for cancellation after a notice period, (2) multiple renewal options at the Company's option, and (3) annual escalations. Lease agreements may also contain provisions for a contingent payment based on revenues or the gross margin derived from the tower located on the leased land interest. More than 80% and more than 50% of the Company's sites are under the Company's control for greater than ten and 20 years , respectively, including renewals at the Company's option. The operating lease payments included in the table below include payments for certain renewal periods at the Company's option up to the estimated tower useful life of 20 years and an estimate of contingent payments based on revenues and gross margins derived from existing tenant leases. See also note 6 . Years Ending December 31, 2018 2019 2020 2021 2022 Thereafter Total Operating leases $ 138,940 $ 140,350 $ 141,363 $ 141,078 $ 138,026 $ 1,726,965 $ 2,426,722 |
Concentration of Credit Risk (T
Concentration of Credit Risk (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Risks and Uncertainties [Abstract] | |
A Summary of the Percentage of the Consolidated Revenues for Those Customers Accounting for More than 10% of the Consolidated Revenues | The following table summarizes the percentage of the Company's revenues for those tenants accounting for more than 10% of the Company's revenues. Years Ended December 31, 2017 2016 2015 Sprint 37 % 38 % 38 % AT&T 19 % 20 % 21 % T-Mobile 19 % 18 % 18 % Verizon Wireless 13 % 13 % 12 % Total 88 % 89 % 89 % |
Supplemental Cash Flow Inform29
Supplemental Cash Flow Information (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Disclosure of Cash Flow Information and Non-cash Investing and Financing Activities | The following table is a summary of the supplemental cash flow information during the years ended December 31, 2017 , 2016 , and 2015 . For Years Ended December 31, 2017 2016 2015 Supplemental disclosure of cash flow information: Interest paid $ 38,490 $ 47,617 $ 50,395 |
Schedule III - Real Estate an30
Schedule III - Real Estate and Accumulated Depreciation (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Text Block] | Description Encumbrances Initial Cost to Company Cost Capitalized Subsequent to Acquisition Gross Amount Carried at Close of Current Period Accumulated Depreciation at Close of Current Period Date of Construction Date Acquired Life on Which Depreciation in Latest Income Statement is Computed 7,603 sites (1) $ 992,663 (2) (3) (3) $ 1,960,703 (4) $ (919,546 ) 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) As of December 31, 2017 , all of the Company's debt is secured by a pledge of the equity interests in each applicable Guarantor. (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. 2017 2016 Gross amount at beginning $ 1,917,553 $ 1,875,940 Additions during period: Acquisitions through foreclosure — — Other acquisitions — — Communications infrastructure construction and improvements 40,051 43,721 Purchase of land interests — — Sustaining capital expenditures 9,500 9,688 Other — — Total additions 49,551 53,409 Deductions during period: Cost of real estate sold or disposed (6,401 ) (11,796 ) Other — — Total deductions: (6,401 ) (11,796 ) Balance at end $ 1,960,703 $ 1,917,553 2017 2016 Gross amount of accumulated depreciation at beginning $ (828,670 ) $ (740,236 ) Additions during period: Depreciation (94,348 ) (93,455 ) Total additions (94,348 ) (93,455 ) Deductions during period: Amount for assets sold or disposed 3,472 5,021 Other — — Total deductions 3,472 5,021 Balance at end $ (919,546 ) $ (828,670 ) |
Schedule II - Valuation and Q31
Schedule II - Valuation and Qualifying Accounts (Tables) | 12 Months Ended |
Dec. 31, 2017 | |
Valuation and Qualifying Accounts [Abstract] | |
Movement in Valuation Allowances and Reserves | Additions Deletions Balance at Beginning of Year Charged to Operations Credited to Operations Written Off Balance at End of Year Allowance for Doubtful Accounts Receivable: 2017 $ 1,810 $ 662 $ — $ (1,172 ) $ 1,300 2016 $ 882 $ 1,697 $ — $ (769 ) $ 1,810 2015 $ 1,099 $ 284 $ — $ (501 ) $ 882 |
Basis of Presentation (Details)
Basis of Presentation (Details) $ in Billions | 12 Months Ended |
Dec. 31, 2017USD ($) | |
Tower Count | 7,600 |
Leased or Operated Under Sprint Master Lease Agreements [Member] | |
Tower count as a percentage of total towers | 68.00% |
Ground Lease Agreement Initial Term | 32 years |
Purchase Option Price | $ 2.3 |
Summary of Significant Accoun33
Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Current Liability for Deferred Ground Lease Payable | $ 1,900 | $ 1,600 | |
Current Liability for Accrued Property Taxes | 5,700 | 5,800 | |
Asset write-down charges | $ 181 | 4,851 | $ 6,021 |
Property management fee, percent fee | 7.50% | ||
Site Rental Contracts and Customer Relationships [Member] | |||
Site rental customer contract estimated useful life, maximum (years) | 20 years | ||
Minimum [Member] | |||
Revenue Recognition Non-cancelable Lease Term Range, Minimum | 5 years | ||
Maximum [Member] | |||
Revenue Recognition Non-cancelable Lease Term Range, Minimum | 15 years | ||
Tower Write-Down Charges [Member] | |||
Asset write-down charges | $ 181 | $ 4,851 | $ 5,400 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Property, Plant and Equipment [Line Items] | ||||
Total gross property and equipment | $ 1,960,703 | $ 1,917,553 | $ 1,875,940 | |
Less accumulated depreciation | (919,546) | (828,670) | (740,236) | |
Total property and equipment, net | 1,041,157 | 1,088,883 | ||
Depreciation expense | 94,300 | 93,500 | $ 92,200 | |
Capital Leased Assets, Gross | 1,000,000 | |||
Accumulated Depreciation on Capital Lease Assets | (559,700) | |||
Land [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Total gross property and equipment | [1] | 73,214 | 73,872 | |
Wireless Infrastructure [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Total gross property and equipment | $ 1,872,975 | 1,827,805 | ||
Wireless Infrastructure [Member] | Minimum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment, useful life | 1 year | |||
Wireless Infrastructure [Member] | Maximum [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Property, plant and equipment, useful life | 20 years | |||
Construction in Process [Member] | ||||
Property, Plant and Equipment [Line Items] | ||||
Total gross property and equipment | $ 14,514 | $ 15,876 | ||
[1] | Includes land owned in fee and perpetual easements. |
Intangible Assets and Above-m35
Intangible Assets and Above-market Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | $ 2,153,004 | $ 2,153,600 | |
2,018 | 115,164 | ||
2,019 | 115,136 | ||
2,020 | 115,105 | ||
2,021 | 114,998 | ||
2,022 | 114,933 | ||
Amortization of Intangible Assets | 115,226 | 115,298 | $ 115,358 |
Finite-Lived Intangible Assets, Accumulated Amortization | 1,230,478 | 1,115,593 | |
Other Intangible Assets, net | 19,859 | 21,807 | |
Finite-Lived Intangible Assets, Net | 922,526 | 1,038,007 | |
Depreciation, Amortization and Accretion [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | 113,635 | 113,621 | 113,570 |
Site Rental Costs of Operations [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of Intangible Assets | 1,591 | 1,677 | 1,788 |
Above Market Leases [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 41,538 | 41,538 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 23,263 | 21,544 | |
Finite-Lived Intangible Assets, Net | 18,275 | 19,994 | |
Above Market Leases [Member] | Site Rental Costs of Operations [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Amortization of Above Market Leases | 1,700 | 1,800 | $ 1,900 |
Site Rental Contracts and Customer Relationships [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 2,102,005 | 2,102,005 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 1,199,338 | 1,085,805 | |
Finite-Lived Intangible Assets, Net | 902,667 | 1,016,200 | |
Other Intangible Assets [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Finite-Lived Intangible Assets, Gross | 50,999 | 51,595 | |
Finite-Lived Intangible Assets, Accumulated Amortization | 31,140 | 29,788 | |
Other Intangible Assets, net | 19,859 | $ 21,807 | |
Amortization expense, 2018 [Member] | Above Market Leases [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Expected Above-Market Lease Amortization Expense | 1,698 | ||
Amortization expense, 2019 [Member] | Above Market Leases [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Expected Above-Market Lease Amortization Expense | 1,674 | ||
Amortization expense, 2020 [Member] | Above Market Leases [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Expected Above-Market Lease Amortization Expense | 1,645 | ||
Amortization expense, 2021 [Member] [Domain] | Above Market Leases [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Expected Above-Market Lease Amortization Expense | 1,512 | ||
Amortization expense, 2022 [Member] | Above Market Leases [Member] | |||
Finite-Lived Intangible Assets [Line Items] | |||
Expected Above-Market Lease Amortization Expense | $ 1,422 |
Debt and Other Obligations (Ind
Debt and Other Obligations (Indebtedness) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 |
Debt Instrument [Line Items] | ||
Total debt and other obligations | $ 992,663 | $ 991,279 |
Debt and Other Obligations (Tex
Debt and Other Obligations (Textuals) (Details) | 12 Months Ended | ||
Dec. 31, 2017USD ($) | Dec. 31, 2016USD ($) | Dec. 31, 2015USD ($) | |
Debt Instrument [Line Items] | |||
(Gains) losses on retirement of debt | $ 0 | $ 10,273,000 | $ 0 |
Write-off of deferred financing costs and discounts | 1,800,000 | ||
Total debt and other obligations | 992,663,000 | 991,279,000 | |
Face value of debt | 992,663,000 | $ 991,279,000 | |
2012 Secured Notes [Member] | |||
Debt Instrument [Line Items] | |||
Face value of debt | 1,000,000,000 | ||
2016 Senior Unsecured Notes issued by parent [Domain] | |||
Debt Instrument [Line Items] | |||
Total debt and other obligations | $ 700,000,000 | ||
Stated interest rate | 2.25% | ||
High Yield Bonds [Member] | 2012 Secured Notes [Member] | |||
Debt Instrument [Line Items] | |||
Stated interest rate | 2.381% | ||
Debt covenant, trade payable restriction of equipment, land or other property, amount | $ 100,000,000 | ||
Debt covenant, debt to adjusted consolidated cash flow | 3.5 | ||
Debt to adjusted cash flow ratio | 2.5 | ||
Previously outstanding 2012 secured notes tranche A [Member] | 2012 Secured Notes [Member] | |||
Debt Instrument [Line Items] | |||
Total debt and other obligations | $ 500,000,000 | ||
Stated interest rate | 2.381% | ||
2012 secured notes tranche B [Member] | 2012 Secured Notes [Member] | |||
Debt Instrument [Line Items] | |||
Total debt and other obligations | $ 1,000,000,000 | ||
Stated interest rate | 3.849% |
Debt and Other Obligations (Sch
Debt and Other Obligations (Scheduled Contractual Maturities) (Details) $ in Thousands | Dec. 31, 2017USD ($) |
Debt and Other Obligations [Abstract] | |
2,018 | $ 0 |
2,019 | 0 |
2,020 | 0 |
2,021 | 0 |
2,022 | 0 |
Thereafter | 1,000,000 |
Total Cash Obligations | 1,000,000 |
Total Debt Outstanding | 992,663 |
Debt Instrument, Unamortized Discount | $ (7,337) |
Debt and Other Obligations Debt
Debt and Other Obligations Debt and Other Obligations (Interest Expense and Amortization of Deferred Financing Costs) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Debt and Other Obligations [Abstract] | |||
Interest expense on debt obligations | $ 38,490 | $ 47,088 | $ 50,395 |
Amortization of deferred financing costs | 1,384 | 2,427 | 2,828 |
Total | $ 39,874 | $ 49,515 | $ 53,223 |
Related Party Transactions (Det
Related Party Transactions (Details) - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | ||
Related Party Transaction [Line Items] | ||||
Property management fee, percent fee | 7.50% | |||
Management Fee | $ 46,946 | $ 45,433 | $ 43,709 | |
Direct Costs of Leased and Rented Property or Equipment, Related Party | [1] | 36,655 | 33,901 | 31,859 |
Rent Revenue of Leased and Rented Property or Equipment, Related Party | 1,000 | 1,000 | 900 | |
Contribution (Distribution) from/to Member | $ (296,545) | (280,494) | (231,600) | |
High Yield Bonds [Member] | 2012 Secured Notes [Member] | ||||
Related Party Transaction [Line Items] | ||||
Previously outstanding Debt Instrument, Interest Rate, Stated Percentage | 2.381% | |||
Affiliated Entity [Member] | ||||
Related Party Transaction [Line Items] | ||||
Related Party Transaction, Percentage of Towers Where Land is Owned by Related Party | 30.00% | |||
Equity contribution related to debt repayment [Member] | ||||
Related Party Transaction [Line Items] | ||||
Contribution (Distribution) from/to Member | $ 0 | 508,472 | ||
Members' Capital [Member] | ||||
Related Party Transaction [Line Items] | ||||
Contribution (Distribution) from/to Member | $ (162,774) | (97,165) | $ 0 | |
Members' Capital [Member] | Equity contribution related to debt repayment [Member] | ||||
Related Party Transaction [Line Items] | ||||
Contribution (Distribution) from/to Member | 508,472 | |||
Members' Capital [Member] | Net Equity contribution from parent [Member] | ||||
Related Party Transaction [Line Items] | ||||
Contribution (Distribution) from/to Member | $ 228,000 | |||
[1] | Exclusive of depreciation, amortization and accretion shown separately and certain indirect costs included in the management fee. |
Fair Value Disclosures (Estimat
Fair Value Disclosures (Estimated Fair Values and Carrying Amounts of Assets and Liabilities) (Details) - USD ($) $ in Thousands | Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents, carrying value | $ 30,771 | $ 19,550 | $ 20,401 | $ 26,231 |
Long-term debt and other obligations, carrying amount | 992,663 | 991,279 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Cash and cash equivalents, carrying value | 1 | |||
Cash and cash equivalents, fair value | 30,771 | 19,550 | ||
Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||||
Long-term debt and other obligations, carrying amount | 2 | |||
Long-term debt and other obligations, fair value | $ 1,032,530 | $ 1,013,300 |
Income Taxes (Benefit (Provisio
Income Taxes (Benefit (Provision) for Income Taxes) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Income Taxes [Abstract] | |||
Income Tax Expense (Benefit) | $ (614) | $ (668) | $ (733) |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Accretion expense related to liabilities for contingent retirement obligations | $ 2.6 | $ 2.3 | $ 2.1 |
Asset retirement obligation | 30.9 | $ 28.5 | |
Asset retirement obligation future outlay | $ 132 | ||
Leased or Operated Under Sprint Master Lease Agreements [Member] | |||
Tower count as a percentage of total towers | 68.00% |
Leases (Details)
Leases (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Property Subject to or Available for Operating Lease [Line Items] | |||
Weighted average remaining term of tenant leases | 6 years | ||
Maximum Current Term | 20 years | ||
Tenant Leases 2018 | $ 631,239 | ||
Tenant Leases 2019 | 618,134 | ||
Tenant Leases 2020 | 611,719 | ||
Tenant Leases 2021 | 593,410 | ||
Tenant Leases 2022 | 550,235 | ||
Tenant Leases thereafter | 1,203,114 | ||
Total tenant leases | $ 4,207,851 | ||
Percentage of wireless infrastructure, office space and equipment that is on land that has non-cancelable operating leases | 90.00% | ||
Operating leases, owned land under tower, expiration term | 10 years | ||
Operating leases, leased land under tower, expiration term | 20 years | ||
Operating leases 2018 | $ 138,940 | ||
Operating leases 2019 | 140,350 | ||
Operating leases 2020 | 141,363 | ||
Operating leases 2021 | 141,078 | ||
Operating leases 2022 | 138,026 | ||
Operating leases thereafter | 1,726,965 | ||
Total operating leases | 2,426,722 | ||
Rental expense from operating leases | 148,600 | $ 144,600 | $ 142,900 |
Contingent rental payments | $ 29,600 | $ 29,000 | $ 28,000 |
Greater than 10 Years, Inclusive of Renewals at the Company's Option [Member] | |||
Property Subject to or Available for Operating Lease [Line Items] | |||
Percentage of site rental gross margin that is derived from wireless infrastructure where the lease for the land has a final expiration date | 80.00% | ||
Greater than 20 Years, Inclusive of Renewals at the Company's Option [Member] | |||
Property Subject to or Available for Operating Lease [Line Items] | |||
Percentage of site rental gross margin that is derived from wireless infrastructure where the lease for the land has a final expiration date | 50.00% | ||
Wireless Infrastructure [Member] | |||
Property Subject to or Available for Operating Lease [Line Items] | |||
Estimated useful life, maximum, in years | 20 years |
Concentration of Credit Risk (M
Concentration of Credit Risk (Major Customers) (Details) | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Percentage of the consolidated revenues | 88.00% | 89.00% | 89.00% |
Sprint [Member] | |||
Percentage of the consolidated revenues | 37.00% | 38.00% | 38.00% |
AT&T [Member] | |||
Percentage of the consolidated revenues | 19.00% | 20.00% | 21.00% |
T-Mobile [Member] | |||
Percentage of the consolidated revenues | 19.00% | 18.00% | 18.00% |
Verizon Wireless [Member] | |||
Percentage of the consolidated revenues | 13.00% | 13.00% | 12.00% |
Supplemental Cash Flow Inform46
Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
Supplemental disclosure of cash flow information: | |||
Interest paid | $ 38,490 | $ 47,617 | $ 50,395 |
Schedule III - Real Estate an47
Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | |
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items] | |||
Property, Plant and Equipment, Gross | $ 1,960,703 | $ 1,917,553 | $ 1,875,940 |
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | (919,546) | (828,670) | $ (740,236) |
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances | 992,663 | ||
SEC Schedule III, Real Estate Accumulated Depreciation | (919,546) | (828,670) | |
SEC Schedule III, Real Estate, Gross | 1,960,703 | 1,917,553 | |
Wireless Infrastructure Construction | 40,051 | 43,721 | |
SEC Schedule III, Real Estate, Improvements | 9,500 | 9,688 | |
Real Estate Period Additions to Cost | 49,551 | 53,409 | |
SEC Schedule III, Real Estate, Cost of Real Estate Sold | (6,401) | (11,796) | |
SEC Schedule III, Real Estate Accumulated Depreciation, Depreciation Expense | (94,348) | (93,455) | |
SEC Schedule III, Real Estate Accumulated Depreciation, Real Estate Sold | 3,472 | 5,021 | |
Real Estate Period Deductions to Accumulated Depreciation | $ 3,472 | $ 5,021 |
Schedule II - Valuation and Q48
Schedule II - Valuation and Qualifying Accounts (Details) - Allowance for Doubtful Accounts [Member] - USD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2017 | Dec. 31, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Valuation and Qualifying Accounts Disclosure [Line Items] | ||||
End of year balance | $ 1,300 | $ 1,810 | $ 882 | $ 1,099 |
Charged to operations | 662 | 1,697 | 284 | |
Credited to operations | 0 | 0 | 0 | |
Written off | $ (1,172) | $ (769) | $ (501) |