10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2020 | |||
CONSOLIDATED STATEMENTS OF OPERATIONS | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| REVENUES: | |||
| Revenues | $ 8,041,500 | 7,580,300 | 7,440,100 |
| OPERATING EXPENSES: | |||
| Property | 2,189,600 | 2,173,700 | 2,128,700 |
| Depreciation, amortization and accretion | 1,882,300 | 1,778,400 | 2,110,800 |
| Selling, general, administrative and development expense | 778,700 | 730,400 | 733,200 |
| Other operating expenses | 265,800 | 166,300 | 513,300 |
| Total operating expenses | 5,154,000 | 4,891,900 | 5,535,100 |
| OPERATING INCOME | 2,887,500 | 2,688,400 | 1,905,000 |
| OTHER INCOME (EXPENSE): | |||
| Interest expense, TV Azteca, net | 0 | 0 | (100) |
| Interest income | 39,700 | 46,800 | 54,700 |
| Interest expense | (793,500) | (814,200) | (825,500) |
| Loss on retirement of long-term obligations | (71,800) | (22,200) | (3,300) |
| Other (expense) income (including foreign currency (losses) gains of $(216.4), $6.1, and $(4.5), respectively) | (240,800) | 17,600 | 23,800 |
| Total other expense | (1,066,400) | (772,000) | (750,400) |
| INCOME FROM CONTINUING OPERATIONS BEFORE INCOME TAXES | 1,821,100 | 1,916,400 | 1,154,600 |
| Income tax (provision) benefit | (129,600) | 200 | 110,100 |
| NET INCOME | 1,691,500 | 1,916,600 | 1,264,700 |
| Net income attributable to noncontrolling interests | (900) | (28,800) | (28,300) |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION STOCKHOLDERS | 1,690,600 | 1,887,800 | 1,236,400 |
| Dividends on preferred stock | 0 | 0 | (9,400) |
| NET INCOME ATTRIBUTABLE TO AMERICAN TOWER CORPORATION COMMON STOCKHOLDERS | 1,690,600 | 1,887,800 | 1,227,000 |
| NET INCOME PER COMMON SHARE AMOUNTS: | |||
| Basic net income attributable to American Tower Corporation common stockholders (in dollars per share) | 3.81 | 4.27 | 2.79 |
| Diluted net income attributable to American Tower Corporation common stockholders (in dollars per share) | 3.79 | 4.24 | 2.77 |
| WEIGHTED AVERAGE COMMON SHARES OUTSTANDING (in thousands): | |||
| BASIC (in shares) | 443,640 | 442,319 | 439,606 |
| DILUTED (in shares) | 446,104 | 445,520 | 442,960 |
| Product and Service | |||
| Property | |||
| Revenues | 7,953,600 | 7,464,900 | 7,314,700 |
| Services | |||
| Revenues | 87,900 | 115,400 | 125,400 |
| Services | 37,600 | 43,100 | 49,100 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2020 | |||
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net income | $ 1,691,500 | 1,916,600 | 1,264,700 |
| Other comprehensive (loss) income: | |||
| Changes in fair value of cash flow hedges, each net of tax expense of $0 | (200) | (100) | (100) |
| Reclassification of unrealized losses on cash flow hedges to net income, each net of tax expense of $0 | 300 | 200 | 300 |
| Adjustment to redeemable noncontrolling interest | 0 | 0 | 78,800 |
| Purchase of noncontrolling interest | 0 | 0 | 500 |
| Foreign currency translation adjustments, net of tax expense (benefit) of $0.0, $0.5, and $(2.6), respectively. | (701,500) | (157,900) | (869,300) |
| Other comprehensive loss | (701,400) | (157,800) | (789,800) |
| Comprehensive income | 990,100 | 1,758,800 | 474,900 |
| Comprehensive (income) loss attributable to noncontrolling interests | (26,100) | 3,800 | 96,900 |
| Allocation of accumulated other comprehensive income resulting from purchases of noncontrolling interests and redeemable noncontrolling interest | (209,200) | (55,500) | 0 |
| Comprehensive income attributable to American Tower Corporation stockholders | 754,800 | 1,707,100 | 571,800 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
AMERICAN TOWER CORP /MA/ | |||
Ticker: AMT Fiscal Year: 2020 | |||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | |||
| (In Thousands, except shares in actual) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| CASH FLOWS FROM OPERATING ACTIVITIES | |||
| Net income | $ 1,691,500 | 1,916,600 | 1,264,700 |
| Adjustments to reconcile net income to cash provided by operating activities: | |||
| Depreciation, amortization and accretion | 1,882,300 | 1,778,400 | 2,110,800 |
| Stock-based compensation expense | 120,800 | 111,400 | 137,500 |
| Loss on investments, unrealized foreign currency loss and other non-cash expense | 299,600 | 46,200 | 47,300 |
| Impairments, net loss on sale of long-lived assets, non-cash restructuring and merger related expenses | 239,500 | 140,000 | 479,600 |
| Loss on early retirement of long-term obligations | 71,800 | 22,200 | 3,300 |
| Amortization of deferred financing costs, debt discounts and premiums and other non-cash interest | 32,900 | 25,900 | 22,100 |
| Deferred income taxes | (22,500) | (55,100) | (303,000) |
| Changes in assets and liabilities, net of acquisitions: | |||
| Accounts receivable | (175,500) | 12,500 | (32,100) |
| Prepaid and other assets | 84,400 | (67,600) | (101,700) |
| Deferred rent asset | (322,000) | (183,500) | (87,600) |
| Right-of-use asset and Operating lease liability, net | (10,900) | 17,400 | 0 |
| Accounts payable and accrued expenses | (69,200) | (46,800) | 69,300 |
| Accrued interest | (1,800) | 32,400 | 8,400 |
| Unearned revenue | 60,700 | 2,500 | 85,800 |
| Deferred rent liability | 0 | 0 | 57,900 |
| Other non-current liabilities | (200) | 100 | (14,000) |
| Cash provided by operating activities | 3,881,400 | 3,752,600 | 3,748,300 |
| CASH FLOWS FROM INVESTING ACTIVITIES | |||
| Payments for purchase of property and equipment and construction activities | (1,031,700) | (991,300) | (913,200) |
| Payments for acquisitions, net of cash acquired | (3,799,100) | (2,959,600) | (1,881,400) |
| Proceeds from sales of short-term investments and other non-current assets | 19,600 | 383,500 | 1,252,200 |
| Payments for short-term investments | 0 | (355,900) | (1,154,300) |
| Deposits and other | 26,600 | (64,200) | (52,800) |
| Cash used for investing activities | (4,784,600) | (3,987,500) | (2,749,500) |
| CASH FLOWS FROM FINANCING ACTIVITIES | |||
| Borrowings under credit facilities | 8,230,400 | 5,750,000 | 3,263,300 |
| Proceeds from issuance of senior notes, net | 7,925,100 | 4,876,700 | 584,900 |
| Proceeds from term loans | 1,940,000 | 1,300,000 | 1,500,000 |
| Proceeds from issuance of securities in securitization transaction | 0 | 0 | 500,000 |
| Repayments of notes payable, credit facilities, term loans, senior notes, secured debt, finance leases and capital leases | (13,875,400) | (9,225,300) | (4,884,800) |
| Distributions to noncontrolling interest holders, net | (12,300) | (11,800) | (14,400) |
| Purchases of common stock | (56,000) | (19,600) | (232,800) |
| Proceeds from stock options and employee stock purchase plan | 98,100 | 105,500 | 98,900 |
| Distributions paid on common stock | (1,928,200) | (1,603,000) | (1,323,500) |
| Distributions paid on preferred stock | 0 | 0 | (18,900) |
| Payment for early retirement of long-term obligations | (68,200) | (21,000) | (3,300) |
| Deferred financing costs and other financing activities | (176,500) | (135,600) | (56,600) |
| Purchases of redeemable noncontrolling interests | (861,700) | (425,700) | 0 |
| Purchase of noncontrolling interest | 0 | (68,500) | (20,500) |
| Cash provided by (used for) financing activities | 1,215,300 | 521,700 | (607,700) |
| Net effect of changes in foreign currency exchange rates on cash and cash equivalents, and restricted cash | (28,700) | (13,700) | (41,100) |
| NET INCREASE IN CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH | 283,400 | 273,100 | 350,000 |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, BEGINNING OF YEAR | 1,578,000 | 1,304,900 | |
| CASH AND CASH EQUIVALENTS, AND RESTRICTED CASH, END OF YEAR | 1,861,400 | 1,578,000 | 1,304,900 |
10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||
AMERICAN TOWER CORP /MA/ | ||
Ticker: AMT Fiscal Year: 2020 | ||
CONSOLIDATED BALANCE SHEETS | ||
Period Ending Dec 31, 2020 10-K (Filed: Feb 25, 2021) | ||
| (In Thousands, except shares in actual) | ||
| As of | As of | |
| Dec 31, 2020 | Dec 31, 2019 | |
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and cash equivalents | $ 1,746,300 | 1,501,200 |
| Restricted cash | 115,100 | 76,800 |
| Accounts receivable, net | 511,600 | 462,200 |
| Prepaid and other current assets | 532,600 | 513,600 |
| Total current assets | 2,905,600 | 2,553,800 |
| PROPERTY AND EQUIPMENT, net | 12,808,700 | 12,084,400 |
| GOODWILL | 7,282,700 | 6,178,300 |
| OTHER INTANGIBLE ASSETS, net | 13,839,800 | 12,318,400 |
| DEFERRED TAX ASSET | 123,100 | 131,800 |
| DEFERRED RENT ASSET | 2,084,300 | 1,771,100 |
| RIGHT-OF-USE ASSET | 7,789,200 | 7,357,400 |
| NOTES RECEIVABLE AND OTHER NON-CURRENT ASSETS | 400,100 | 406,400 |
| TOTAL | 47,233,500 | 42,801,600 |
| LIABILITIES | ||
| CURRENT LIABILITIES: | ||
| Accounts payable | 139,100 | 148,100 |
| Accrued expenses | 1,043,700 | 958,200 |
| Distributions payable | 544,600 | 455,000 |
| Accrued interest | 207,800 | 209,400 |
| Current portion of operating lease liability | 539,900 | 494,500 |
| Current portion of long-term obligations | 789,800 | 2,928,200 |
| Unearned revenue | 390,600 | 294,300 |
| Total current liabilities | 3,655,500 | 5,487,700 |
| LONG-TERM OBLIGATIONS | 28,497,700 | 21,127,200 |
| OPERATING LEASE LIABILITY | 6,884,400 | 6,510,400 |
| ASSET RETIREMENT OBLIGATIONS | 1,571,300 | 1,384,100 |
| DEFERRED TAX LIABILITY | 859,500 | 768,300 |
| OTHER NON-CURRENT LIABILITIES | 984,600 | 937,000 |
| Total liabilities | 42,453,000 | 36,214,700 |
| COMMITMENTS AND CONTINGENCIES | ||
| REDEEMABLE NONCONTROLLING INTERESTS | 212,100 | 1,096,500 |
| EQUITY (shares in thousands): | ||
| Common stock: $0.01 par value; 1,000,000 shares authorized; 455,245 and 453,541 shares issued; and 444,330 and 442,890 shares outstanding, respectively | 4,600 | 4,500 |
| Additional paid-in capital | 10,473,700 | 10,117,700 |
| Distributions in excess of earnings | (1,343,000) | (1,016,800) |
| Accumulated other comprehensive loss | (3,759,400) | (2,823,600) |
| Treasury stock (10,915 and 10,651 shares at cost, respectively) | (1,282,400) | (1,226,400) |
| Total American Tower Corporation equity | 4,093,500 | 5,055,400 |
| Noncontrolling interests | 474,900 | 435,000 |
| Total equity | 4,568,400 | 5,490,400 |
| TOTAL | 47,233,500 | 42,801,600 |
| External Links | |
| AMERICAN TOWER CORP /MA/ (AMT) Fiscal Year 2020 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |